Citigroup Begins Coverage on Albertsons Companies (NYSE:ACI)

Analysts at Citigroup initiated coverage on shares of Albertsons Companies (NYSE:ACI) in a research note issued on Friday. The brokerage set a “buy” rating and a $26.00 price target on the stock. Citigroup’s price objective indicates a potential upside of 31.35% from the company’s previous close.

A number of other equities analysts have also weighed in on the company. Bank of America started coverage on Albertsons Companies in a research note on Friday, December 13th. They set a “neutral” rating and a $22.00 price objective on the stock. Telsey Advisory Group reissued an “outperform” rating and set a $26.00 price objective on shares of Albertsons Companies in a research note on Thursday, January 9th. Tigress Financial reissued a “buy” rating and set a $27.00 price objective on shares of Albertsons Companies in a research note on Monday, October 21st. UBS Group lowered their price objective on Albertsons Companies from $27.00 to $24.00 and set a “neutral” rating on the stock in a research note on Tuesday, December 17th. Finally, Wells Fargo & Company reaffirmed a “market perform” rating on shares of Albertsons Companies in a research note on Friday, October 18th. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Albertsons Companies presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.00.

Albertsons Companies Stock Performance

Shares of NYSE:ACI opened at $19.80 on Friday. The business’s 50 day moving average price is $19.53 and its 200-day moving average price is $19.33. The firm has a market capitalization of $11.47 billion, a PE ratio of 11.12, a P/E/G ratio of 1.83 and a beta of 0.51. The company has a debt-to-equity ratio of 2.31, a current ratio of 0.93 and a quick ratio of 0.21. Albertsons Companies has a 1 year low of $17.00 and a 1 year high of $21.92.

Albertsons Companies (NYSE:ACI) last released its quarterly earnings data on Wednesday, January 8th. The company reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.07. The company had revenue of $18.77 billion for the quarter, compared to analyst estimates of $18.82 billion. Albertsons Companies had a return on equity of 44.70% and a net margin of 1.30%. The firm’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.79 earnings per share. As a group, equities research analysts expect that Albertsons Companies will post 2.14 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Albertsons Companies

Several institutional investors and hedge funds have recently modified their holdings of ACI. Sei Investments Co. raised its holdings in shares of Albertsons Companies by 4.0% in the 2nd quarter. Sei Investments Co. now owns 115,659 shares of the company’s stock valued at $2,285,000 after buying an additional 4,492 shares during the period. Point72 DIFC Ltd acquired a new stake in Albertsons Companies in the 2nd quarter valued at about $415,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in Albertsons Companies by 62.0% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 66,258 shares of the company’s stock valued at $1,309,000 after purchasing an additional 25,358 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in Albertsons Companies in the 2nd quarter valued at about $687,000. Finally, AQR Capital Management LLC raised its position in Albertsons Companies by 1.6% in the 2nd quarter. AQR Capital Management LLC now owns 60,655 shares of the company’s stock valued at $1,198,000 after purchasing an additional 933 shares in the last quarter. Hedge funds and other institutional investors 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.