Evercore ISI Lowers Albertsons Companies (NYSE:ACI) Price Target to $21.00

Albertsons Companies (NYSE:ACI) had its target price reduced by stock analysts at Evercore ISI from $22.00 to $21.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has an “in-line” rating on the stock. Evercore ISI’s target price would indicate a potential upside of 17.65% from the stock’s current price.

A number of other research analysts have also recently commented on the company. Barclays began coverage on Albertsons Companies in a research note on Monday, July 21st. They set an “underweight” rating and a $19.00 price objective on the stock. Roth Capital reiterated a “buy” rating and set a $24.00 target price (up from $23.00) on shares of Albertsons Companies in a report on Wednesday, July 16th. Zacks Research upgraded Albertsons Companies from a “strong sell” rating to a “hold” rating in a report on Monday, August 25th. Wells Fargo & Company lowered their price objective on shares of Albertsons Companies from $27.00 to $23.00 and set an “overweight” rating for the company in a research report on Tuesday, October 7th. Finally, Royal Bank Of Canada reduced their target price on shares of Albertsons Companies from $23.00 to $21.00 and set an “outperform” rating on the stock in a research report on Friday, October 3rd. Ten investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $23.43.

Albertsons Companies Stock Performance

NYSE:ACI opened at $17.85 on Tuesday. The company has a current ratio of 0.81, a quick ratio of 0.20 and a debt-to-equity ratio of 2.25. The firm has a market capitalization of $9.80 billion, a price-to-earnings ratio of 10.56, a PEG ratio of 2.90 and a beta of 0.52. The firm’s fifty day simple moving average is $18.14 and its 200 day simple moving average is $19.98. Albertsons Companies has a twelve month low of $16.70 and a twelve month high of $23.20.

Insider Activity at Albertsons Companies

In other Albertsons Companies news, insider Anuj Dhanda sold 230,000 shares of the business’s stock in a transaction on Thursday, October 16th. The shares were sold at an average price of $19.25, for a total transaction of $4,427,500.00. Following the completion of the sale, the insider owned 300,577 shares in the company, valued at $5,786,107.25. The trade was a 43.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Michael T. Theilmann sold 100,000 shares of the firm’s stock in a transaction dated Thursday, October 16th. The stock was sold at an average price of $19.35, for a total transaction of $1,935,000.00. Following the completion of the transaction, the executive vice president 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. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.35% of the company’s stock.

Institutional Trading of Albertsons Companies

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Albertsons Companies by 2.9% during the first quarter. Vanguard Group Inc. now owns 37,374,669 shares of the company’s stock worth $821,869,000 after buying an additional 1,064,547 shares during the period. Norges Bank bought a new stake in Albertsons Companies during the 2nd quarter valued at $320,613,000. LSV Asset Management boosted its position in Albertsons Companies by 3.5% during the 3rd quarter. LSV Asset Management now owns 10,946,507 shares of the company’s stock worth $191,673,000 after acquiring an additional 368,100 shares during the period. Massachusetts Financial Services Co. MA boosted its position in Albertsons Companies by 17.7% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 9,388,320 shares of the company’s stock worth $164,389,000 after acquiring an additional 1,410,778 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in shares of Albertsons Companies by 37.1% in the third quarter. Dimensional Fund Advisors LP now owns 8,269,879 shares of the company’s stock worth $144,803,000 after purchasing an additional 2,239,291 shares in the last quarter. 71.35% of the stock is currently 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.