Royal Bank of Canada Reiterates Outperform Rating for Albertsons Companies (NYSE:ACI)

Albertsons Companies (NYSE:ACI)‘s stock had its “outperform” rating reiterated by equities researchers at Royal Bank of Canada in a report issued on Wednesday,Benzinga reports. They presently have a $23.00 price objective on the stock. Royal Bank of Canada’s price objective suggests a potential upside of 6.17% from the stock’s current price.

ACI has been the topic of a number of other reports. The Goldman Sachs Group reiterated a “buy” rating and set a $26.00 price objective on shares of Albertsons Companies in a research note on Tuesday, February 4th. Telsey Advisory Group reiterated an “outperform” rating and issued a $26.00 price objective on shares of Albertsons Companies in a research report on Friday, April 11th. UBS Group reduced their target price on Albertsons Companies from $24.00 to $22.00 and set a “neutral” rating on the stock in a report on Wednesday. Evercore ISI lifted their price objective on Albertsons Companies from $21.00 to $22.00 and gave the company an “in-line” rating in a research note on Tuesday, March 11th. Finally, Citigroup began coverage on Albertsons Companies in a report on Friday, January 24th. They issued a “buy” rating and a $26.00 price objective for the company. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $23.36.

Albertsons Companies Trading Up 2.4 %

NYSE ACI opened at $21.66 on Wednesday. The stock has a market capitalization of $12.55 billion, a P/E ratio of 12.17, a P/E/G ratio of 1.92 and a beta of 0.47. Albertsons Companies has a one year low of $17.00 and a one year high of $23.20. The business has a 50 day simple moving average of $21.18 and a 200 day simple moving average of $19.95. The company has a debt-to-equity ratio of 2.31, a current ratio of 0.93 and a quick ratio of 0.21.

Albertsons Companies (NYSE:ACI) last posted its earnings results on Tuesday, April 15th. The company reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.06. The company had revenue of $18.80 billion for the quarter, compared to analyst estimates of $18.78 billion. Albertsons Companies had a net margin of 1.30% and a return on equity of 44.70%. During the same quarter in the prior year, the business posted $0.54 EPS. Research analysts expect that Albertsons Companies will post 2.14 earnings per share for the current year.

Hedge Funds Weigh In On Albertsons Companies

Large investors have recently made changes to their positions in the business. Eagle Bay Advisors LLC grew its stake in Albertsons Companies by 108.4% during the 4th quarter. Eagle Bay Advisors LLC now owns 1,346 shares of the company’s stock worth $26,000 after buying an additional 700 shares during the last quarter. Capital Advisors Ltd. LLC increased its stake in Albertsons Companies by 225.1% during the 4th quarter. Capital Advisors Ltd. LLC now owns 1,385 shares of the company’s stock valued at $27,000 after purchasing an additional 959 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in Albertsons Companies by 316.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,787 shares of the company’s stock worth $35,000 after acquiring an additional 1,358 shares during the last quarter. WealthCollab LLC grew its stake in Albertsons Companies by 446.0% during the 4th quarter. WealthCollab LLC now owns 1,780 shares of the company’s stock valued at $35,000 after purchasing an additional 1,454 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of Albertsons Companies by 340.1% in the first quarter. GAMMA Investing LLC now owns 1,919 shares of the company’s stock valued at $42,000 after purchasing an additional 1,483 shares during the period. 71.35% of the stock is owned by institutional investors and hedge funds.

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.