Albertsons Companies (NYSE:ACI) Receives “Outperform” Rating from Royal Bank of Canada

Albertsons Companies (NYSE:ACI)‘s stock had its “outperform” rating reiterated by investment analysts at Royal Bank of Canada in a note issued to investors on Tuesday,Benzinga reports. They presently have a $22.00 price target on the stock. Royal Bank of Canada’s target price would indicate a potential upside of 12.53% from the company’s previous close.

ACI has been the subject of a number of other reports. Wells Fargo & Company reiterated a “market perform” rating on shares of Albertsons Companies in a research report on Friday, October 18th. Evercore ISI raised their target price on shares of Albertsons Companies from $18.00 to $19.00 and gave the company an “in-line” rating in a research note on Tuesday, December 3rd. Melius Research raised shares of Albertsons Companies from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a research note on Monday, October 21st. Tigress Financial reaffirmed a “buy” rating and set a $27.00 target price on shares of Albertsons Companies in a research note on Monday, October 21st. Finally, Bank of America initiated coverage on shares of Albertsons Companies in a research note on Friday, December 13th. They set a “neutral” rating and a $22.00 target price for the company. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $22.75.

Albertsons Companies Stock Down 1.3 %

ACI opened at $19.55 on Tuesday. The company has a quick ratio of 0.22, a current ratio of 0.90 and a debt-to-equity ratio of 2.58. The firm has a 50 day moving average price of $19.23 and a 200-day moving average price of $19.31. Albertsons Companies has a twelve month low of $17.00 and a twelve month high of $23.47. The stock has a market capitalization of $11.33 billion, a price-to-earnings ratio of 11.43, a PEG ratio of 1.07 and a beta of 0.51.

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

Institutional Investors Weigh In On Albertsons Companies

Several institutional investors have recently made changes to their positions in the company. FMR LLC lifted its holdings in shares of Albertsons Companies by 88.1% in the 3rd quarter. FMR LLC now owns 16,841,582 shares of the company’s stock worth $311,232,000 after acquiring an additional 7,887,688 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Albertsons Companies by 7.0% in the 3rd 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 holdings in Albertsons Companies by 1.7% during the 3rd 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 in the last quarter. Parsifal Capital Management LP lifted its holdings in Albertsons Companies by 22.8% during the 3rd quarter. Parsifal Capital Management LP now owns 8,546,881 shares of the company’s stock valued at $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% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 6,170,601 shares of the company’s stock valued at $114,033,000 after buying an additional 1,239,978 shares in the last quarter. 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.