Evercore ISI Forecasts Strong Price Appreciation for Albertsons Companies (NYSE:ACI) Stock

Albertsons Companies (NYSE:ACI) had its price target lifted by Evercore ISI from $21.00 to $22.00 in a report issued on Tuesday,Benzinga reports. They currently have an in-line rating on the stock.

ACI has been the subject of several other research reports. Citigroup began coverage on Albertsons Companies in a research note on Friday, January 24th. They set a “buy” rating and a $26.00 target price for the company. Morgan Stanley reduced their price objective on shares of Albertsons Companies from $24.00 to $19.00 and set an “equal weight” rating for the company in a research report on Wednesday, December 11th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $22.00 price objective on shares of Albertsons Companies in a research note on Tuesday, January 7th. The Goldman Sachs Group reissued a “buy” rating and set a $26.00 target price on shares of Albertsons Companies in a research note on Tuesday, February 4th. Finally, Telsey Advisory Group restated an “outperform” rating and issued a $26.00 price target on shares of Albertsons Companies in a research report on Tuesday. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $23.43.

Albertsons Companies Price Performance

Shares of ACI opened at $21.47 on Tuesday. The firm has a market capitalization of $12.44 billion, a price-to-earnings ratio of 12.06, a price-to-earnings-growth ratio of 1.92 and a beta of 0.50. The stock’s fifty day moving average is $20.38 and its 200-day moving average is $19.48. Albertsons Companies has a one year low of $17.00 and a one year high of $21.67. The company has a debt-to-equity ratio of 2.31, a quick ratio of 0.21 and a current ratio of 0.93.

Albertsons Companies (NYSE:ACI) last posted its quarterly earnings data on Wednesday, January 8th. The company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.07. The business had revenue of $18.77 billion during the quarter, compared to analysts’ expectations of $18.82 billion. Albertsons Companies had a net margin of 1.30% and a return on equity of 44.70%. The business’s revenue was up 1.2% on a year-over-year basis. During the same period last year, the firm posted $0.79 earnings per share. Equities analysts anticipate that Albertsons Companies will post 2.14 EPS for the current year.

Albertsons Companies Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Friday, January 24th were issued a $0.15 dividend. The ex-dividend date of this dividend was Friday, January 24th. This is an increase from Albertsons Companies’s previous quarterly dividend of $0.12. This represents a $0.60 dividend on an annualized basis and a yield of 2.80%. Albertsons Companies’s dividend payout ratio is 33.71%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ACI. Eagle Bay Advisors LLC raised its stake in shares of Albertsons Companies by 108.4% in the fourth quarter. Eagle Bay Advisors LLC now owns 1,346 shares of the company’s stock valued at $26,000 after purchasing an additional 700 shares in the last quarter. Capital Advisors Ltd. LLC increased its holdings in Albertsons Companies by 225.1% in the 4th quarter. Capital Advisors Ltd. LLC now owns 1,385 shares of the company’s stock valued at $27,000 after buying an additional 959 shares during the period. EverSource Wealth Advisors LLC raised its stake in shares of Albertsons Companies by 316.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,787 shares of the company’s stock valued at $35,000 after buying an additional 1,358 shares in the last quarter. WealthCollab LLC lifted its holdings in shares of Albertsons Companies by 446.0% during the 4th quarter. WealthCollab LLC now owns 1,780 shares of the company’s stock worth $35,000 after acquiring an additional 1,454 shares during the period. Finally, Ossiam acquired a new stake in shares of Albertsons Companies during the 4th quarter valued at about $93,000. Institutional investors 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.