Albertsons Companies (NYSE:ACI) Price Target Raised to $19.00

Albertsons Companies (NYSE:ACI) had its target price boosted by equities researchers at Evercore ISI from $18.00 to $19.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has an “in-line” rating on the stock. Evercore ISI’s target price would suggest a potential downside of 1.96% from the company’s previous close.

A number of other analysts have also issued reports on ACI. BMO Capital Markets lowered their target price on shares of Albertsons Companies from $21.00 to $19.00 and set a “market perform” rating for the company in a research note on Wednesday, October 16th. Telsey Advisory Group restated a “market perform” rating and issued a $27.25 price objective on shares of Albertsons Companies in a research report on Friday, October 11th. Melius raised shares of Albertsons Companies from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a research note on Monday, October 21st. Tigress Financial reissued a “buy” rating and set a $27.00 target price on shares of Albertsons Companies in a research note on Monday, October 21st. Finally, Melius Research upgraded Albertsons Companies from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research note on Monday, October 21st. Four analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Albertsons Companies has a consensus rating of “Moderate Buy” and an average target price of $23.25.

Albertsons Companies Trading Down 0.4 %

ACI traded down $0.07 during trading on Tuesday, hitting $19.38. 804,996 shares of the stock traded hands, compared to its average volume of 3,010,614. The firm has a 50-day moving average of $18.78 and a 200 day moving average of $19.47. The firm has a market capitalization of $11.23 billion, a P/E ratio of 11.33, a price-to-earnings-growth ratio of 1.16 and a beta of 0.51. The company has a debt-to-equity ratio of 2.58, a current ratio of 0.90 and a quick ratio of 0.22. Albertsons Companies has a 12-month low of $17.80 and a 12-month high of $23.47.

Albertsons Companies (NYSE:ACI) last posted its quarterly earnings data on Tuesday, October 15th. The company reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.03. Albertsons Companies had a return on equity of 49.50% and a net margin of 1.25%. The company had revenue of $18.55 billion during the quarter, compared to analyst estimates of $18.47 billion. During the same quarter last year, the company earned $0.60 EPS. The firm’s revenue for the quarter was up 1.4% on a year-over-year basis. Equities research analysts anticipate that Albertsons Companies will post 2.13 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FMR LLC grew its stake in shares of Albertsons Companies by 88.1% in the third quarter. FMR LLC now owns 16,841,582 shares of the company’s stock valued at $311,232,000 after buying an additional 7,887,688 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Albertsons Companies by 7.0% in the third quarter. Geode Capital Management LLC now owns 9,063,266 shares of the company’s stock worth $167,229,000 after acquiring an additional 592,711 shares during the last quarter. State Street Corp lifted its stake in Albertsons Companies by 1.7% in the third quarter. State Street Corp now owns 8,615,413 shares of the company’s stock valued at $159,213,000 after buying an additional 141,933 shares during the last quarter. Parsifal Capital Management LP grew its holdings in Albertsons Companies by 22.8% in the 3rd quarter. Parsifal Capital Management LP now owns 8,546,881 shares of the company’s stock worth $157,946,000 after buying an additional 1,585,899 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings in Albertsons Companies by 25.1% in the third quarter. Massachusetts Financial Services Co. MA now owns 6,170,601 shares of the company’s stock worth $114,033,000 after purchasing an additional 1,239,978 shares during the period. Institutional investors and hedge funds 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.