Albertsons Companies (NYSE:ACI) Reaches New 52-Week High - Should You Buy?

Albertsons Companies, Inc. (NYSE:ACI - Get Free Report) hit a new 52-week high on Monday . The stock traded as high as $21.88 and last traded at $21.70, with a volume of 916621 shares traded. The stock had previously closed at $21.08.

Analyst Upgrades and Downgrades

ACI has been the subject of a number of research analyst reports. Royal Bank of Canada upped their price target on Albertsons Companies from $22.00 to $23.00 and gave the company an "outperform" rating in a report on Thursday, March 13th. Telsey Advisory Group restated an "outperform" rating and issued a $26.00 target price on shares of Albertsons Companies in a report on Tuesday, March 11th. Evercore ISI lifted their price target on shares of Albertsons Companies from $21.00 to $22.00 and gave the stock an "in-line" rating in a research note on Tuesday, March 11th. Morgan Stanley reduced their price target on shares of Albertsons Companies from $24.00 to $19.00 and set an "equal weight" rating for the company in a research report on Wednesday, December 11th. Finally, The Goldman Sachs Group reaffirmed a "buy" rating and set a $26.00 price objective on shares of Albertsons Companies in a report on Tuesday, February 4th. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat, Albertsons Companies has an average rating of "Moderate Buy" and an average target price of $23.50.

Albertsons Companies Trading Down 0.5 %

The company has a debt-to-equity ratio of 2.31, a quick ratio of 0.21 and a current ratio of 0.93. The stock has a market capitalization of $12.26 billion, a PE ratio of 11.89, a price-to-earnings-growth ratio of 1.92 and a beta of 0.50. The business's 50-day moving average is $20.62 and its two-hundred day moving average is $19.54.

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Albertsons Companies (NYSE:ACI - Get Free Report) last issued its quarterly earnings results on Wednesday, January 8th. The company reported $0.71 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.64 by $0.07. The business had revenue of $18.77 billion for the quarter, compared to analyst estimates of $18.82 billion. Albertsons Companies had a net margin of 1.30% and a return on equity of 44.70%. The business's revenue was up 1.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.79 earnings per share. As a group, equities research analysts anticipate that Albertsons Companies, Inc. will post 2.14 earnings per share for the current year.

Albertsons Companies Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Friday, January 24th were paid a $0.15 dividend. The ex-dividend date was Friday, January 24th. This is an increase from Albertsons Companies's previous quarterly dividend of $0.12. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.83%. Albertsons Companies's payout ratio is 33.71%.

Institutional Investors Weigh In On Albertsons Companies

Hedge funds and other institutional investors have recently bought and sold shares of the business. Private Management Group Inc. increased its holdings in shares of Albertsons Companies by 2.0% in the 4th quarter. Private Management Group Inc. now owns 2,196,484 shares of the company's stock valued at $43,138,000 after purchasing an additional 43,532 shares in the last quarter. Swiss National Bank grew its position in Albertsons Companies by 9.2% during the third quarter. Swiss National Bank now owns 1,117,200 shares of the company's stock worth $20,646,000 after buying an additional 94,300 shares during the period. NINE MASTS CAPITAL Ltd purchased a new position in Albertsons Companies in the fourth quarter valued at about $746,000. K2 Principal Fund L.P. lifted its position in shares of Albertsons Companies by 68.4% during the 3rd quarter. K2 Principal Fund L.P. now owns 270,501 shares of the company's stock valued at $4,999,000 after acquiring an additional 109,901 shares during the period. Finally, ORBA Wealth Advisors L.L.C. purchased a new stake in shares of Albertsons Companies during the 4th quarter worth approximately $433,000. Institutional investors and hedge funds 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.