Royal Bank of Canada Reiterates "Outperform" Rating for Albertsons Companies (NYSE:ACI)

Albertsons Companies (NYSE:ACI - Get Free Report)'s stock had its "outperform" rating reaffirmed by research analysts at Royal Bank of Canada in a report released on Wednesday,Benzinga reports. They presently have a $23.00 target price on the stock. Royal Bank of Canada's target price indicates a potential upside of 6.17% from the company's current price.

ACI has been the topic of several other reports. Telsey Advisory Group restated an "outperform" rating and set a $26.00 price target on shares of Albertsons Companies in a report on Friday, April 11th. Evercore ISI boosted their target price on shares of Albertsons Companies from $21.00 to $22.00 and gave the stock an "in-line" rating in a report on Tuesday, March 11th. Citigroup assumed coverage on shares of Albertsons Companies in a research note on Friday, January 24th. They set a "buy" rating and a $26.00 price target for the company. The Goldman Sachs Group reissued a "buy" rating and issued a $26.00 price objective on shares of Albertsons Companies in a research note on Tuesday, February 4th. Finally, UBS Group cut their target price on Albertsons Companies from $24.00 to $22.00 and set a "neutral" rating on the stock in a report on Wednesday. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $23.36.

Albertsons Companies Price Performance

Shares of ACI stock traded up $0.51 during trading hours on Wednesday, reaching $21.66. The company's stock had a trading volume of 10,042,907 shares, compared to its average volume of 4,307,437. Albertsons Companies has a fifty-two week low of $17.00 and a fifty-two week high of $23.20. The firm's 50 day simple moving average is $21.19 and its 200-day simple moving average is $19.97. The company has a quick ratio of 0.21, a current ratio of 0.93 and a debt-to-equity ratio of 2.31. The company has a market capitalization of $12.55 billion, a price-to-earnings ratio of 12.17, a PEG ratio of 1.92 and a beta of 0.47.

Albertsons Companies (NYSE:ACI - Get Free Report) last released its quarterly earnings data on Tuesday, April 15th. The company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.06. The business had revenue of $18.80 billion for the quarter, compared to analyst estimates of $18.78 billion. Albertsons Companies had a return on equity of 44.70% and a net margin of 1.30%. During the same period last year, the firm posted $0.54 earnings per share. Sell-side analysts forecast that Albertsons Companies will post 2.14 earnings per share for the current year.

Hedge Funds Weigh In On Albertsons Companies

A number of large investors have recently modified their holdings of ACI. Te Ahumairangi Investment Management Ltd lifted its stake in shares of Albertsons Companies by 8.7% in the third quarter. Te Ahumairangi Investment Management Ltd now owns 322,672 shares of the company's stock valued at $5,929,000 after buying an additional 25,868 shares in the last quarter. Synovus Financial Corp boosted its stake in Albertsons Companies by 10.0% during the 3rd 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 during the last quarter. DGS Capital Management LLC purchased a new stake in shares of Albertsons Companies in the third quarter worth approximately $199,000. Everence Capital Management Inc. purchased a new position in shares of Albertsons Companies during the fourth quarter valued at approximately $242,000. Finally, Winthrop Advisory Group LLC bought a new stake in Albertsons Companies during the fourth quarter worth $1,011,000. 71.35% of the stock is currently owned by institutional investors.

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.