Albertsons Companies (NYSE:ACI) Price Target Cut to $21.00 by Analysts at Royal Bank of Canada

Albertsons Companies (NYSE:ACI) had its price objective decreased by research analysts at Royal Bank of Canada from $22.00 to $21.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Royal Bank of Canada’s target price would suggest a potential upside of 12.96% from the company’s previous close.

A number of other analysts have also recently commented on the company. Melius raised 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. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $27.25 target price on shares of Albertsons Companies in a research note on Friday, October 11th. Evercore ISI lifted their price target on shares of Albertsons Companies from $18.00 to $19.00 and gave the stock an “in-line” rating in a research report on Tuesday, December 3rd. Tigress Financial restated a “buy” rating and issued a $27.00 price objective on shares of Albertsons Companies in a research report on Monday, October 21st. Finally, BMO Capital Markets dropped their price objective on Albertsons Companies from $21.00 to $19.00 and set a “market perform” rating on the stock in a research note on Wednesday, October 16th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Albertsons Companies presently has an average rating of “Moderate Buy” and a consensus price target of $23.14.

Albertsons Companies Trading Up 0.4 %

ACI stock traded up $0.08 during midday trading on Wednesday, reaching $18.59. The company’s stock had a trading volume of 9,906,626 shares, compared to its average volume of 3,062,545. The business’s 50-day simple moving average is $18.85 and its 200-day simple moving average is $19.40. The stock has a market cap of $10.77 billion, a PE ratio of 10.88, a price-to-earnings-growth ratio of 1.12 and a beta of 0.51. Albertsons Companies has a 52 week low of $17.00 and a 52 week high of $23.47. The company has a quick ratio of 0.22, a current ratio of 0.90 and a debt-to-equity ratio of 2.58.

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

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. DGS Capital Management LLC acquired a new position in shares of Albertsons Companies during the 3rd quarter worth about $199,000. Synovus Financial Corp grew its stake in Albertsons Companies by 10.0% in the third quarter. Synovus Financial Corp now owns 13,192 shares of the company’s stock valued at $244,000 after purchasing an additional 1,197 shares in the last quarter. Te Ahumairangi Investment Management Ltd increased its position in shares of Albertsons Companies by 8.7% during the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 322,672 shares of the company’s stock worth $5,929,000 after purchasing an additional 25,868 shares during the last quarter. Rehmann Capital Advisory Group raised its stake in shares of Albertsons Companies by 12.1% during the 3rd quarter. Rehmann Capital Advisory Group now owns 23,612 shares of the company’s stock worth $441,000 after purchasing an additional 2,549 shares in the last quarter. Finally, Toronto Dominion Bank boosted its holdings in shares of Albertsons Companies by 42.8% in the 3rd quarter. Toronto Dominion Bank now owns 47,561 shares of the company’s stock valued at $879,000 after buying an additional 14,266 shares during the last quarter. Institutional investors 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.