Albertsons Companies (NYSE:ACI) Price Target Raised to $22.00 at Royal Bank of Canada

Albertsons Companies (NYSE:ACI) had its target price hoisted by equities research analysts at Royal Bank of Canada from $21.00 to $22.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank of Canada’s price target suggests a potential upside of 13.87% from the stock’s current price.

ACI has been the topic of a number of other reports. Wells Fargo & Company reiterated a “market perform” rating on shares of Albertsons Companies in a research note on Friday, October 18th. Bank of America began coverage on shares of Albertsons Companies in a research report on Friday. They set a “neutral” rating and a $22.00 price target on the stock. Tigress Financial reissued a “buy” rating and issued a $27.00 price objective on shares of Albertsons Companies in a report on Monday, October 21st. Melius raised Albertsons Companies from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a report on Monday, October 21st. Finally, Evercore ISI lifted their target price on Albertsons Companies from $18.00 to $19.00 and gave the company an “in-line” rating in a research note on Tuesday, December 3rd. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Albertsons Companies has an average rating of “Moderate Buy” and a consensus price target of $22.64.

Albertsons Companies Stock Down 2.7 %

NYSE:ACI traded down $0.53 during trading hours on Tuesday, hitting $19.32. The stock had a trading volume of 1,488,668 shares, compared to its average volume of 3,255,860. The business has a 50 day simple moving average of $18.90 and a two-hundred day simple moving average of $19.37. Albertsons Companies has a 1-year low of $17.00 and a 1-year high of $23.47. The company has a current ratio of 0.90, a quick ratio of 0.22 and a debt-to-equity ratio of 2.58. The company has a market cap of $11.19 billion, a PE ratio of 11.27, a price-to-earnings-growth ratio of 1.07 and a beta of 0.51.

Albertsons Companies (NYSE:ACI) last released its quarterly earnings results on Tuesday, October 15th. The company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.03. The firm had revenue of $18.55 billion for the quarter, compared to the consensus estimate of $18.47 billion. Albertsons Companies had a net margin of 1.25% and a return on equity of 49.50%. The firm’s quarterly revenue was up 1.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.60 EPS. Analysts predict that Albertsons Companies will post 2.13 EPS for the current year.

Institutional Investors Weigh In On Albertsons Companies

Large investors have recently made changes to their positions in the company. Private Advisor Group LLC raised its position in Albertsons Companies by 4.4% during the third quarter. Private Advisor Group LLC now owns 13,010 shares of the company’s stock valued at $240,000 after acquiring an additional 544 shares in the last quarter. Verus Capital Partners LLC increased its stake in shares of Albertsons Companies by 3.6% during the 2nd quarter. Verus Capital Partners LLC now owns 16,288 shares of the company’s stock worth $322,000 after purchasing an additional 565 shares during the last quarter. CIBC Asset Management Inc raised its holdings in shares of Albertsons Companies by 4.9% during the 3rd quarter. CIBC Asset Management Inc now owns 19,324 shares of the company’s stock valued at $357,000 after purchasing an additional 895 shares in the last quarter. AQR Capital Management LLC lifted its stake in shares of Albertsons Companies by 1.6% in the 2nd quarter. AQR Capital Management LLC now owns 60,655 shares of the company’s stock valued at $1,198,000 after purchasing an additional 933 shares during the last quarter. Finally, MRP Capital Investments LLC boosted its holdings in Albertsons Companies by 2.7% in the second quarter. MRP Capital Investments LLC now owns 45,055 shares of the company’s stock worth $890,000 after purchasing an additional 1,185 shares in the last quarter. Institutional investors own 71.35% of the company’s stock.

Albertsons Companies Company Profile

Albertsons Companies, Inc, through its subsidiaries, engages in the operation of food and drug stores in the United States. The company’s food and drug retail stores offer grocery products, general merchandise, health and beauty care products, pharmacy, fuel, and other items and services. It also manufactures and processes food products for sale in stores.