Albertsons Companies’ (ACI) “Outperform” Rating Reiterated at Royal Bank of Canada

Albertsons Companies (NYSE:ACI)‘s stock had its “outperform” rating reaffirmed by analysts at Royal Bank of Canada in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $23.00 price objective on the stock. Royal Bank of Canada’s price objective would suggest a potential upside of 6.17% from the stock’s previous close.

Several other research firms have also commented on ACI. The Goldman Sachs Group reiterated a “buy” rating and set a $26.00 price objective on shares of Albertsons Companies in a research note on Tuesday, February 4th. Citigroup began coverage on shares of Albertsons Companies in a research note on Friday, January 24th. They set a “buy” rating and a $26.00 price objective for the company. Telsey Advisory Group restated an “outperform” rating and set a $26.00 target price on shares of Albertsons Companies in a report on Friday, April 11th. Evercore ISI increased their price target on Albertsons Companies from $21.00 to $22.00 and gave the company an “in-line” rating in a report on Tuesday, March 11th. Finally, UBS Group reduced their price target on Albertsons Companies from $24.00 to $22.00 and set a “neutral” rating on the stock in a report on Wednesday. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, Albertsons Companies currently has an average rating of “Moderate Buy” and an average target price of $23.36.

Albertsons Companies Price Performance

NYSE:ACI opened at $21.66 on Wednesday. The stock has a market capitalization of $12.55 billion, a PE ratio of 12.17, a price-to-earnings-growth ratio of 1.92 and a beta of 0.47. The stock’s 50-day moving average price is $21.18 and its 200-day moving average price is $19.95. The company has a quick ratio of 0.21, a current ratio of 0.93 and a debt-to-equity ratio of 2.31. Albertsons Companies has a 52 week low of $17.00 and a 52 week high of $23.20.

Albertsons Companies (NYSE:ACI) last released its quarterly earnings results on Tuesday, April 15th. The company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.06. The firm had revenue of $18.80 billion for the quarter, compared to analysts’ expectations of $18.78 billion. Albertsons Companies had a net margin of 1.30% and a return on equity of 44.70%. During the same quarter last year, the company earned $0.54 EPS. As a group, equities analysts expect that Albertsons Companies will post 2.14 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Eagle Bay Advisors LLC increased its holdings in 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 buying an additional 700 shares during the last quarter. Capital Advisors Ltd. LLC lifted its stake in Albertsons Companies by 225.1% during the fourth quarter. Capital Advisors Ltd. LLC now owns 1,385 shares of the company’s stock worth $27,000 after purchasing an additional 959 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Albertsons Companies by 316.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,787 shares of the company’s stock valued at $35,000 after purchasing an additional 1,358 shares in the last quarter. WealthCollab LLC increased its stake in Albertsons Companies by 446.0% in the fourth quarter. WealthCollab LLC now owns 1,780 shares of the company’s stock valued at $35,000 after purchasing an additional 1,454 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of Albertsons Companies by 340.1% in the 1st quarter. GAMMA Investing LLC now owns 1,919 shares of the company’s stock valued at $42,000 after buying an additional 1,483 shares in the last quarter. 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.