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

Albertsons Companies (NYSE:ACI) had its price objective reduced by analysts at Royal Bank of Canada from $23.00 to $22.00 in a report issued on Tuesday, Marketbeat reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank of Canada’s target price suggests a potential upside of 9.70% from the company’s current price.

Other equities analysts have also recently issued research reports about the company. Roth Mkm boosted their price objective on Albertsons Companies from $23.00 to $24.00 and gave the company a “neutral” rating in a report on Wednesday, January 10th. Tigress Financial restated a “buy” rating and set a $27.00 price objective on shares of Albertsons Companies in a report on Friday, January 12th. Telsey Advisory Group restated a “market perform” rating and set a $27.25 price objective on shares of Albertsons Companies in a report on Wednesday, April 17th. Finally, Evercore ISI dropped their price objective on Albertsons Companies from $23.00 to $22.00 and set an “in-line” rating for the company in a report on Tuesday, April 16th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $24.45.

Albertsons Companies Stock Performance

NYSE ACI opened at $20.06 on Tuesday. The company has a market cap of $11.55 billion, a P/E ratio of 8.99, a P/E/G ratio of 0.95 and a beta of 0.50. The company has a debt-to-equity ratio of 2.83, a quick ratio of 0.19 and a current ratio of 0.84. The business’s 50 day moving average price is $20.88 and its 200-day moving average price is $21.62. Albertsons Companies has a fifty-two week low of $19.84 and a fifty-two week high of $23.88.

Institutional Investors Weigh In On Albertsons Companies

A number of hedge funds have recently made changes to their positions in the stock. NBC Securities Inc. acquired a new position in Albertsons Companies during the 3rd quarter valued at about $28,000. Blue Trust Inc. boosted its position in Albertsons Companies by 255.1% during the fourth quarter. Blue Trust Inc. now owns 1,463 shares of the company’s stock worth $34,000 after purchasing an additional 1,051 shares in the last quarter. Van ECK Associates Corp purchased a new position in shares of Albertsons Companies in the third quarter valued at approximately $52,000. Principal Securities Inc. purchased a new position in shares of Albertsons Companies in the fourth quarter valued at approximately $62,000. Finally, CI Investments Inc. lifted its position in shares of Albertsons Companies by 21.8% in the third quarter. CI Investments Inc. now owns 4,373 shares of the company’s stock valued at $99,000 after acquiring an additional 783 shares in the last quarter. 71.35% of the stock is currently owned by hedge funds and other 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.