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

Albertsons Companies (NYSE:ACI) had its price target increased by analysts at Royal Bank of Canada from $21.00 to $22.00 in a report released on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank of Canada’s target price would indicate a potential upside of 13.87% from the stock’s previous close.

Several other equities analysts also recently commented on the stock. Evercore ISI boosted their price target on shares of Albertsons Companies from $18.00 to $19.00 and gave the stock an “in-line” rating in a research note on Tuesday, December 3rd. BMO Capital Markets reduced their price target on Albertsons Companies from $21.00 to $19.00 and set a “market perform” rating on the stock in a research report on Wednesday, October 16th. Tigress Financial reissued a “buy” rating and set a $27.00 price objective on shares of Albertsons Companies in a research report on Monday, October 21st. Wells Fargo & Company reiterated a “market perform” rating on shares of Albertsons Companies in a research note on Friday, October 18th. Finally, Melius Research upgraded shares of Albertsons Companies from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a report on Monday, October 21st. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $22.64.

Albertsons Companies Trading Down 2.7 %

Shares of ACI stock traded down $0.53 on Tuesday, hitting $19.32. The stock had a trading volume of 1,488,668 shares, compared to its average volume of 3,255,860. The company’s 50 day moving average price is $18.90 and its 200-day moving average price is $19.37. Albertsons Companies has a 1 year low of $17.00 and a 1 year high of $23.47. The company has a debt-to-equity ratio of 2.58, a current ratio of 0.90 and a quick ratio of 0.22. The firm has a market capitalization of $11.19 billion, a P/E ratio of 11.27, a P/E/G ratio of 1.07 and a beta of 0.51.

Albertsons Companies (NYSE:ACI) last issued its quarterly earnings results on Tuesday, October 15th. The company reported $0.51 earnings per share (EPS) 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 analyst estimates of $18.47 billion. Albertsons Companies had a net margin of 1.25% and a return on equity of 49.50%. The business’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.60 earnings per share. Analysts anticipate that Albertsons Companies will post 2.13 earnings per share for the current year.

Institutional Investors Weigh In On Albertsons Companies

A number of institutional investors and hedge funds have recently modified their holdings of ACI. Swiss National Bank increased its holdings in Albertsons Companies by 9.2% during the 3rd quarter. Swiss National Bank now owns 1,117,200 shares of the company’s stock valued at $20,646,000 after acquiring an additional 94,300 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its position in Albertsons Companies by 5.7% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 670,722 shares of the company’s stock worth $12,395,000 after purchasing an additional 36,154 shares during the last quarter. K2 Principal Fund L.P. raised its stake in Albertsons Companies by 68.4% during the third quarter. K2 Principal Fund L.P. now owns 270,501 shares of the company’s stock worth $4,999,000 after purchasing an additional 109,901 shares during the period. Kovitz Investment Group Partners LLC acquired a new position in shares of Albertsons Companies in the 3rd quarter valued at $1,906,000. Finally, Lubert Adler Management Company LP grew its stake in shares of Albertsons Companies by 47.1% during the 2nd quarter. Lubert Adler Management Company LP now owns 2,664,735 shares of the company’s stock valued at $52,629,000 after buying an additional 852,857 shares during the period. Institutional investors and hedge funds own 71.35% of the company’s stock.

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.