#4 - Albertson's (NYSE:ACI)
Turning our attention to grocery chains, one of the food stocks for you to consider is Albertson’s (NYSE:ACI). As if we didn’t know already, we all realized how essential grocery chains are to our way of life. It remains to be seen if the timing was right for Albertson’s to go public through an initial public offering (IPO) in June. The stock is basically flat since it started publicly trading.
However, the long-term outlook for Albertson’s looks very strong. First of all, the company has a strong national footprint. Through a merger with Safeway, while concentrated in the western United States, the company also has a presence in the northeast and Chicago. And in 68% of the markets in which it operates, Albertson’s has either the most or second-most market share. Plus, the company is on a strong growth trajectory. The company forecasts that 60% of its local markets will outgrow the U.S. population by at least 60%.
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.
Read More - Current Price
- $19.52
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 7 Buy Ratings, 6 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $22.75 (16.5% Upside)
