Albertsons Companies (NYSE:ACI) Earns Outperform Rating from Royal Bank of Canada

Albertsons Companies (NYSE:ACI - Get Free Report)'s stock had its "outperform" rating reiterated by equities research analysts at Royal Bank of Canada in a research note issued to investors on Tuesday,Benzinga reports. They currently have a $22.00 price objective on the stock. Royal Bank of Canada's price target points to a potential upside of 11.73% from the company's current price.

ACI has been the subject of several other research reports. Morgan Stanley reduced their price objective on shares of Albertsons Companies from $24.00 to $19.00 and set an "equal weight" rating for the company in a report on Wednesday, December 11th. UBS Group lowered their price objective on shares of Albertsons Companies from $27.00 to $24.00 and set a "neutral" rating on the stock in a research note on Tuesday, December 17th. Melius raised Albertsons Companies from a "hold" rating to a "buy" rating and set a $24.00 price target on the stock in a report on Monday, October 21st. Tigress Financial reissued a "buy" rating and set a $27.00 price objective on shares of Albertsons Companies in a research note on Monday, October 21st. Finally, Wells Fargo & Company reaffirmed a "market perform" rating on shares of Albertsons Companies in a research report on Friday, October 18th. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $22.75.

Albertsons Companies Stock Performance

NYSE ACI traded up $0.09 during trading hours on Tuesday, hitting $19.69. The company had a trading volume of 9,500,854 shares, compared to its average volume of 6,580,630. 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 has a fifty-two week low of $17.00 and a fifty-two week high of $23.47. The business has a fifty day simple moving average of $19.26 and a 200-day simple moving average of $19.31. The firm has a market cap of $11.41 billion, a P/E ratio of 11.51, a price-to-earnings-growth ratio of 1.07 and a beta of 0.51.

Albertsons Companies (NYSE:ACI - Get Free Report) last posted its earnings results on Tuesday, October 15th. The company reported $0.51 EPS for the quarter, topping the consensus estimate 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 net margin of 1.25% and a return on equity of 49.50%. Albertsons Companies's quarterly revenue was up 1.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.60 EPS. Equities analysts predict that Albertsons Companies will post 2.13 EPS for the current year.

Hedge Funds Weigh In On Albertsons Companies

Several institutional investors and hedge funds have recently modified their holdings of ACI. Signaturefd LLC boosted its position in Albertsons Companies by 76.8% during the third quarter. Signaturefd LLC now owns 4,181 shares of the company's stock valued at $77,000 after purchasing an additional 1,816 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Albertsons Companies during the 2nd quarter valued at about $150,000. Headlands Technologies LLC lifted its holdings in shares of Albertsons Companies by 2,243.9% during the 2nd quarter. Headlands Technologies LLC now owns 8,977 shares of the company's stock valued at $177,000 after buying an additional 8,594 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of Albertsons Companies in the 3rd quarter valued at approximately $185,000. Finally, DGS Capital Management LLC acquired a new position in Albertsons Companies in the third quarter worth approximately $199,000. 71.35% of the stock is currently owned by hedge funds and other institutional investors.

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.