Royal Bank of Canada Issues Positive Forecast for Albertsons Companies (NYSE:ACI) Stock Price

Albertsons Companies (NYSE:ACI - Free Report) had its price objective increased by Royal Bank of Canada from $21.00 to $22.00 in a report published on Tuesday morning,Benzinga reports. They currently have an outperform rating on the stock.

Several other equities analysts have also recently issued reports on ACI. Evercore ISI boosted their price target on shares of Albertsons Companies from $18.00 to $19.00 and gave the company an "in-line" rating in a research report on Tuesday, December 3rd. Wells Fargo & Company reiterated a "market perform" rating on shares of Albertsons Companies in a report on Friday, October 18th. Morgan Stanley lowered their target price on Albertsons Companies from $24.00 to $19.00 and set an "equal weight" rating for the company in a research note on Wednesday, December 11th. BMO Capital Markets reduced their price target 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. Finally, Bank of America assumed coverage on Albertsons Companies in a research report on Friday. They set a "neutral" rating and a $22.00 price objective for the company. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $22.75.

Albertsons Companies Trading Down 2.7 %

ACI traded down $0.54 during trading on Tuesday, hitting $19.32. 8,205,747 shares of the stock traded hands, compared to its average volume of 3,285,694. The firm has a 50-day moving average of $18.92 and a 200 day moving average of $19.36. Albertsons Companies has a 12-month low of $17.00 and a 12-month high of $23.47. The firm has a market capitalization of $11.19 billion, a P/E ratio of 11.30, a price-to-earnings-growth ratio of 1.07 and a beta of 0.51. The company has a debt-to-equity ratio of 2.58, a current ratio of 0.90 and a quick ratio of 0.22.

Albertsons Companies (NYSE:ACI - Get Free Report) last released its quarterly earnings data on Tuesday, October 15th. The company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.03. The business had revenue of $18.55 billion during the quarter, compared to analysts' expectations of $18.47 billion. Albertsons Companies had a return on equity of 49.50% and a net margin of 1.25%. The business's revenue was up 1.4% on a year-over-year basis. During the same quarter last year, the business posted $0.60 EPS. Equities research analysts anticipate that Albertsons Companies will post 2.13 EPS for the current year.

Albertsons Companies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Monday, October 28th were issued a $0.12 dividend. The ex-dividend date was Monday, October 28th. This represents a $0.48 dividend on an annualized basis and a yield of 2.49%. Albertsons Companies's payout ratio is currently 28.07%.

Hedge Funds Weigh In On Albertsons Companies

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Signaturefd LLC lifted its holdings in Albertsons Companies by 108.4% in the second quarter. Signaturefd LLC now owns 2,365 shares of the company's stock valued at $47,000 after acquiring an additional 1,230 shares during the period. Blue Trust Inc. boosted its holdings in shares of Albertsons Companies by 2,948.4% in the second quarter. Blue Trust Inc. now owns 2,896 shares of the company's stock worth $62,000 after buying an additional 2,801 shares during the last quarter. Intact Investment Management Inc. purchased a new stake in Albertsons Companies during the second quarter valued at approximately $126,000. Acadian Asset Management LLC bought a new position in Albertsons Companies in the second quarter worth approximately $150,000. Finally, Headlands Technologies LLC boosted its stake 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 worth $177,000 after acquiring an additional 8,594 shares during 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.