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

Albertsons Companies (NYSE:ACI) had its price target increased by research analysts at Royal Bank of Canada from $21.00 to $22.00 in a report issued on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank of Canada’s target price indicates a potential upside of 16.09% from the company’s current price.

A number of other equities research analysts have also weighed in on ACI. Morgan Stanley dropped their price target on Albertsons Companies from $24.00 to $19.00 and set an “equal weight” rating on the stock in a research note on Wednesday, December 11th. Evercore ISI lifted their target price 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. Telsey Advisory Group upgraded shares of Albertsons Companies from a “market perform” rating to an “outperform” rating and upped their price target for the company from $21.00 to $26.00 in a research note on Tuesday. Tigress Financial reaffirmed a “buy” rating and issued a $27.00 price target on shares of Albertsons Companies in a report on Monday, October 21st. Finally, Bank of America started coverage on Albertsons Companies in a research report on Friday, December 13th. They issued a “neutral” rating and a $22.00 target price on the stock. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Albertsons Companies presently has a consensus rating of “Moderate Buy” and an average target price of $22.75.

Albertsons Companies Stock Down 1.9 %

NYSE:ACI opened at $18.95 on Tuesday. The company’s 50-day simple moving average is $18.93 and its 200-day simple moving average is $19.36. The company has a debt-to-equity ratio of 2.58, a quick ratio of 0.22 and a current ratio of 0.90. Albertsons Companies has a fifty-two week low of $17.00 and a fifty-two week high of $23.47. The stock has a market capitalization of $10.98 billion, a P/E ratio of 11.08, a P/E/G ratio of 1.07 and a beta of 0.51.

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, topping analysts’ consensus estimates of $0.48 by $0.03. The firm had revenue of $18.55 billion during the quarter, compared to analysts’ expectations of $18.47 billion. Albertsons Companies had a return on equity of 49.50% and a net margin of 1.25%. The business’s quarterly revenue was up 1.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.60 EPS. On average, equities analysts anticipate that Albertsons Companies will post 2.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Albertsons Companies

Several institutional investors and hedge funds have recently modified their holdings of ACI. Private Advisor Group LLC increased its holdings in shares of Albertsons Companies by 4.4% during the 3rd quarter. Private Advisor Group LLC now owns 13,010 shares of the company’s stock valued at $240,000 after purchasing an additional 544 shares in the last quarter. Verus Capital Partners LLC increased its holdings in Albertsons Companies by 3.6% in the second quarter. Verus Capital Partners LLC now owns 16,288 shares of the company’s stock valued at $322,000 after buying an additional 565 shares in the last quarter. CIBC Asset Management Inc increased its holdings in Albertsons Companies by 4.9% in the third quarter. CIBC Asset Management Inc now owns 19,324 shares of the company’s stock valued at $357,000 after buying an additional 895 shares in the last quarter. AQR Capital Management LLC raised its position in shares of Albertsons Companies by 1.6% in the second quarter. AQR Capital Management LLC now owns 60,655 shares of the company’s stock worth $1,198,000 after acquiring an additional 933 shares during the period. Finally, MRP Capital Investments LLC boosted its stake in shares of Albertsons Companies by 2.7% during the 2nd quarter. MRP Capital Investments LLC now owns 45,055 shares of the company’s stock worth $890,000 after acquiring an additional 1,185 shares in the last quarter. 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.