Weiss Ratings Reaffirms “Hold (C-)” Rating for Albertsons Companies (NYSE:ACI)

Albertsons Companies (NYSE:ACI)‘s stock had its “hold (c-)” rating reissued by investment analysts at Weiss Ratings in a report issued on Thursday,Weiss Ratings reports.

Several other equities research analysts also recently issued reports on ACI. Telsey Advisory Group restated an “outperform” rating and issued a $24.00 price target on shares of Albertsons Companies in a report on Wednesday, October 15th. Wall Street Zen raised shares of Albertsons Companies from a “hold” rating to a “buy” rating in a research note on Saturday, October 25th. Zacks Research raised shares of Albertsons Companies from a “strong sell” rating to a “hold” rating in a research note on Monday, August 25th. Roth Capital reaffirmed a “buy” rating and issued a $24.00 target price (up from $23.00) on shares of Albertsons Companies in a research note on Wednesday, July 16th. Finally, Bank of America reduced their target price on shares of Albertsons Companies from $24.00 to $22.00 and set a “neutral” rating for the company in a research note on Wednesday, October 15th. Ten equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Albertsons Companies has an average rating of “Moderate Buy” and a consensus price target of $23.50.

Albertsons Companies Price Performance

Shares of ACI stock opened at $17.66 on Thursday. Albertsons Companies has a 12-month low of $16.70 and a 12-month high of $23.20. The firm has a fifty day moving average of $18.44 and a 200-day moving average of $20.23. The firm has a market capitalization of $9.70 billion, a price-to-earnings ratio of 10.45, a price-to-earnings-growth ratio of 2.92 and a beta of 0.49. The company has a quick ratio of 0.20, a current ratio of 0.81 and a debt-to-equity ratio of 2.25.

Insider Transactions at Albertsons Companies

In other news, insider Anuj Dhanda sold 230,000 shares of the company’s stock in a transaction dated Thursday, October 16th. The shares were sold at an average price of $19.25, for a total value of $4,427,500.00. Following the sale, the insider directly owned 300,577 shares of the company’s stock, valued at approximately $5,786,107.25. This represents a 43.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Michael T. Theilmann sold 100,000 shares of the company’s stock in a transaction dated Thursday, October 16th. The shares were sold at an average price of $19.35, for a total transaction of $1,935,000.00. Following the completion of the sale, the executive vice president directly owned 338,429 shares in the company, valued at approximately $6,548,601.15. The trade was a 22.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.35% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Albertsons Companies

A number of institutional investors and hedge funds have recently modified their holdings of the company. Peddock Capital Advisors LLC raised its holdings in shares of Albertsons Companies by 1.9% in the 2nd quarter. Peddock Capital Advisors LLC now owns 26,567 shares of the company’s stock valued at $571,000 after purchasing an additional 504 shares during the period. Mason Investment Advisory Services Inc. raised its holdings in Albertsons Companies by 0.7% in the 2nd quarter. Mason Investment Advisory Services Inc. now owns 78,586 shares of the company’s stock valued at $1,690,000 after acquiring an additional 524 shares during the period. ProShare Advisors LLC raised its holdings in Albertsons Companies by 3.4% in the 2nd quarter. ProShare Advisors LLC now owns 17,870 shares of the company’s stock valued at $384,000 after acquiring an additional 592 shares during the period. Verdence Capital Advisors LLC raised its holdings in Albertsons Companies by 0.8% in the 2nd quarter. Verdence Capital Advisors LLC now owns 83,260 shares of the company’s stock valued at $1,791,000 after acquiring an additional 623 shares during the period. Finally, Fifth Third Bancorp raised its holdings in Albertsons Companies by 20.9% in the 2nd quarter. Fifth Third Bancorp now owns 3,624 shares of the company’s stock valued at $78,000 after acquiring an additional 627 shares during the period. 71.35% of the stock is owned by institutional investors.

About Albertsons Companies

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.