Albertsons Companies (NYSE:ACI) Price Target Lowered to $19.00 at Morgan Stanley

Albertsons Companies (NYSE:ACI) had its price objective reduced by equities research analysts at Morgan Stanley from $24.00 to $19.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s price objective suggests a potential upside of 2.81% from the company’s current price.

ACI has been the subject of several other research reports. Melius Research raised Albertsons Companies from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research report on Monday, October 21st. Wells Fargo & Company reiterated a “market perform” rating on shares of Albertsons Companies in a research note on Friday, October 18th. Telsey Advisory Group reiterated a “market perform” rating and issued a $27.25 price objective on shares of Albertsons Companies in a research report on Friday, October 11th. Royal Bank of Canada cut their price target on Albertsons Companies from $22.00 to $21.00 and set an “outperform” rating on the stock in a research note on Wednesday. Finally, Tigress Financial reaffirmed a “buy” rating and set a $27.00 price objective on shares of Albertsons Companies in a research note on Monday, October 21st. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Albertsons Companies presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.73.

Albertsons Companies Trading Down 0.2 %

Shares of Albertsons Companies stock traded down $0.03 on Wednesday, reaching $18.48. 16,713,764 shares of the company were exchanged, compared to its average volume of 3,106,508. Albertsons Companies has a fifty-two week low of $17.00 and a fifty-two week high of $23.47. The company has a current ratio of 0.90, a quick ratio of 0.22 and a debt-to-equity ratio of 2.58. The firm has a market capitalization of $10.71 billion, a price-to-earnings ratio of 10.81, a price-to-earnings-growth ratio of 1.12 and a beta of 0.51. The stock has a fifty day moving average price of $18.85 and a 200-day moving average price of $19.40.

Albertsons Companies (NYSE:ACI) last announced its quarterly earnings results on Tuesday, October 15th. The company reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.03. Albertsons Companies had a return on equity of 49.50% and a net margin of 1.25%. The company had revenue of $18.55 billion during the quarter, compared to analysts’ expectations of $18.47 billion. During the same quarter in the previous year, the firm earned $0.60 earnings per share. The business’s quarterly revenue was up 1.4% compared to the same quarter last year. On average, analysts expect that Albertsons Companies will post 2.13 EPS for the current year.

Hedge Funds Weigh In On Albertsons Companies

Several large investors have recently added to or reduced their stakes in the business. FMR LLC increased its stake in Albertsons Companies by 88.1% in the 3rd quarter. FMR LLC now owns 16,841,582 shares of the company’s stock valued at $311,232,000 after buying an additional 7,887,688 shares during the last quarter. Geode Capital Management LLC increased its stake in Albertsons Companies by 7.0% in the 3rd quarter. Geode Capital Management LLC now owns 9,063,266 shares of the company’s stock valued at $167,229,000 after buying an additional 592,711 shares during the last quarter. State Street Corp increased its stake in shares of Albertsons Companies by 1.7% during the 3rd quarter. State Street Corp now owns 8,615,413 shares of the company’s stock worth $159,213,000 after purchasing an additional 141,933 shares during the last quarter. Parsifal Capital Management LP increased its stake in shares of Albertsons Companies by 22.8% during the 3rd quarter. Parsifal Capital Management LP now owns 8,546,881 shares of the company’s stock worth $157,946,000 after purchasing an additional 1,585,899 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in shares of Albertsons Companies by 25.1% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 6,170,601 shares of the company’s stock worth $114,033,000 after purchasing an additional 1,239,978 shares during the last quarter. Institutional investors own 71.35% of the company’s stock.

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.