Albertsons Companies (NYSE:ACI) Upgraded by Roth Capital to “Buy”

Roth Capital upgraded shares of Albertsons Companies (NYSE:ACI) from a neutral rating to a buy rating in a report issued on Tuesday, Zacks.com reports.

A number of other analysts have also issued reports on ACI. Tigress Financial reiterated a buy rating and set a $27.00 price objective on shares of Albertsons Companies in a research note on Friday, January 12th. Royal Bank of Canada dropped their price objective on shares of Albertsons Companies from $23.00 to $22.00 and set an outperform rating on the stock in a research note on Tuesday. Roth Mkm upgraded shares of Albertsons Companies from a neutral rating to a buy rating and set a $24.00 price objective on the stock in a research note on Tuesday. Telsey Advisory Group reiterated a market perform rating and set a $27.25 price objective on shares of Albertsons Companies in a research note on Tuesday. Finally, Evercore ISI dropped their price objective on shares of Albertsons Companies from $23.00 to $22.00 and set an in-line rating on the stock in a research note on Tuesday, April 16th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and an average price target of $24.45.

Albertsons Companies Trading Up 0.4 %

ACI opened at $20.32 on Tuesday. The firm has a market capitalization of $11.71 billion, a P/E ratio of 8.68, a P/E/G ratio of 0.96 and a beta of 0.50. The firm’s 50 day moving average is $20.88 and its 200-day moving average is $21.62. Albertsons Companies has a 52-week low of $19.88 and a 52-week high of $23.88. The company has a quick ratio of 0.19, a current ratio of 0.85 and a debt-to-equity ratio of 3.09.

Albertsons Companies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, April 26th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date of this dividend is Thursday, April 25th. Albertsons Companies’s payout ratio is currently 20.51%.

Hedge Funds Weigh In On Albertsons Companies

Hedge funds have recently added to or reduced their stakes in the business. Cornerstone Investment Partners LLC acquired a new position in Albertsons Companies in the fourth quarter worth $1,023,000. SG Americas Securities LLC boosted its holdings in Albertsons Companies by 1,569.5% in the fourth quarter. SG Americas Securities LLC now owns 267,443 shares of the company’s stock worth $6,151,000 after purchasing an additional 251,424 shares during the period. Schechter Investment Advisors LLC boosted its holdings in Albertsons Companies by 7.1% in the fourth quarter. Schechter Investment Advisors LLC now owns 776,966 shares of the company’s stock worth $17,870,000 after purchasing an additional 51,590 shares during the period. Alpine Associates Management Inc. boosted its holdings in Albertsons Companies by 11.9% in the third quarter. Alpine Associates Management Inc. now owns 4,267,518 shares of the company’s stock worth $97,086,000 after purchasing an additional 454,400 shares during the period. Finally, Dark Forest Capital Management LP boosted its holdings in Albertsons Companies by 466.2% in the third quarter. Dark Forest Capital Management LP now owns 96,926 shares of the company’s stock worth $2,205,000 after purchasing an additional 79,808 shares during the period. Institutional investors and hedge funds own 71.35% of the company’s stock.

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.