Royal Bank of Canada Reiterates “Outperform” Rating for Albertsons Companies (NYSE:ACI)

Albertsons Companies (NYSE:ACI)‘s stock had its “outperform” rating reaffirmed by equities researchers at Royal Bank of Canada in a research note issued on Thursday,Benzinga reports. They currently have a $23.00 target price on the stock. Royal Bank of Canada’s price target points to a potential upside of 0.52% from the stock’s current price.

A number of other analysts have also recently weighed in on the company. Bank of America started coverage on Albertsons Companies in a research report on Friday, December 13th. They set a “neutral” rating and a $22.00 price objective for the company. Morgan Stanley cut 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 report on Wednesday, December 11th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $26.00 price objective on shares of Albertsons Companies in a report on Tuesday, March 11th. The Goldman Sachs Group reissued a “buy” rating and set a $26.00 target price on shares of Albertsons Companies in a research note on Tuesday, February 4th. Finally, UBS Group decreased their price target on Albertsons Companies from $27.00 to $24.00 and set a “neutral” rating on the stock in a research note on Tuesday, December 17th. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $23.50.

Albertsons Companies Stock Up 2.0 %

Shares of Albertsons Companies stock traded up $0.45 during trading hours on Thursday, hitting $22.88. The company had a trading volume of 2,493,302 shares, compared to its average volume of 4,056,819. The company’s 50-day moving average is $20.88 and its two-hundred day moving average is $19.72. Albertsons Companies has a twelve month low of $17.00 and a twelve month high of $23.16. The company has a debt-to-equity ratio of 2.31, a current ratio of 0.93 and a quick ratio of 0.21. The company has a market cap of $13.26 billion, a P/E ratio of 12.85, a price-to-earnings-growth ratio of 1.92 and a beta of 0.50.

Albertsons Companies (NYSE:ACI) last released its quarterly earnings data on Wednesday, January 8th. The company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.07. Albertsons Companies had a net margin of 1.30% and a return on equity of 44.70%. The company had revenue of $18.77 billion during the quarter, compared to the consensus estimate of $18.82 billion. During the same quarter in the prior year, the firm posted $0.79 earnings per share. Albertsons Companies’s revenue for the quarter was up 1.2% on a year-over-year basis. Analysts anticipate that Albertsons Companies will post 2.14 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Albertsons Companies

Several hedge funds have recently added to or reduced their stakes in ACI. Norges Bank acquired a new stake in shares of Albertsons Companies in the fourth quarter valued at approximately $298,302,000. FMR LLC lifted its stake in Albertsons Companies by 55.3% in the 4th quarter. FMR LLC now owns 26,150,522 shares of the company’s stock valued at $513,596,000 after buying an additional 9,308,940 shares in the last quarter. Southeastern Asset Management Inc. TN grew its holdings in Albertsons Companies by 108.0% during the 4th quarter. Southeastern Asset Management Inc. TN now owns 5,766,719 shares of the company’s stock valued at $113,258,000 after buying an additional 2,993,988 shares during the last quarter. Dendur Capital LP acquired a new stake in Albertsons Companies during the 4th quarter valued at $49,100,000. Finally, Vanguard Group Inc. increased its position in Albertsons Companies by 6.9% during the fourth quarter. Vanguard Group Inc. now owns 36,310,122 shares of the company’s stock worth $713,131,000 after buying an additional 2,347,875 shares in the last quarter. 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.