Albertsons Companies (NYSE:ACI) Rating Increased to Buy at Melius Research

Melius Research upgraded shares of Albertsons Companies (NYSE:ACI) from a hold rating to a buy rating in a research note released on Monday, Marketbeat.com reports. Melius Research currently has $24.00 price target on the stock.

A number of other equities analysts also recently weighed in on ACI. BMO Capital Markets cut their price target on shares of Albertsons Companies from $21.00 to $19.00 and set a “market perform” rating on the stock in a research note on Wednesday, October 16th. Melius raised shares of Albertsons Companies from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research note on Monday. Telsey Advisory Group reissued a “market perform” rating and issued a $27.25 target price on shares of Albertsons Companies in a research note on Friday, October 11th. Finally, Wells Fargo & Company reissued a “market perform” rating on shares of Albertsons Companies in a research note on Friday, October 18th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Albertsons Companies has a consensus rating of “Moderate Buy” and an average target price of $23.58.

Albertsons Companies Stock Performance

NYSE:ACI opened at $18.77 on Monday. The company has a quick ratio of 0.21, a current ratio of 0.88 and a debt-to-equity ratio of 2.67. The company has a market cap of $10.87 billion, a P/E ratio of 8.42, a P/E/G ratio of 1.02 and a beta of 0.48. Albertsons Companies has a fifty-two week low of $17.80 and a fifty-two week high of $23.47. The firm’s 50 day moving average is $19.03 and its two-hundred day moving average is $19.77.

Albertsons Companies (NYSE:ACI) last posted its quarterly earnings results on Tuesday, October 15th. The company reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.03. The company had revenue of $18.55 billion for the quarter, compared to the consensus estimate of $18.47 billion. Albertsons Companies had a net margin of 1.41% and a return on equity of 56.01%. Albertsons Companies’s revenue was up 1.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.60 earnings per share. Analysts expect that Albertsons Companies will post 2.25 EPS for the current year.

Albertsons Companies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Monday, October 28th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date of this dividend is Monday, October 28th. Albertsons Companies’s payout ratio is 21.52%.

Institutional Investors Weigh In On Albertsons Companies

A number of large investors have recently added to or reduced their stakes in ACI. PNC Financial Services Group Inc. grew its holdings in Albertsons Companies by 41.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 7,616 shares of the company’s stock valued at $175,000 after purchasing an additional 2,250 shares in the last quarter. Eagle Rock Investment Company LLC grew its holdings in Albertsons Companies by 31.8% during the 1st quarter. Eagle Rock Investment Company LLC now owns 58,148 shares of the company’s stock valued at $1,247,000 after purchasing an additional 14,013 shares in the last quarter. TrueMark Investments LLC acquired a new position in Albertsons Companies during the 1st quarter worth $1,147,000. Wealth Enhancement Advisory Services LLC grew its holdings in Albertsons Companies by 5.2% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 43,304 shares of the company’s stock worth $928,000 after acquiring an additional 2,144 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Albertsons Companies by 0.3% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 691,123 shares of the company’s stock worth $14,818,000 after acquiring an additional 1,936 shares in the last quarter. 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.