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

Albertsons Companies (NYSE:ACI - Get Free Report)'s stock had its "outperform" rating reissued by stock analysts at Royal Bank of Canada in a report issued on Wednesday,Benzinga reports. They presently have a $23.00 price target on the stock. Royal Bank of Canada's price target would suggest a potential upside of 3.32% from the stock's previous close.

Several other research analysts also recently weighed in on ACI. The Goldman Sachs Group reiterated a "buy" rating and issued a $26.00 price target on shares of Albertsons Companies in a report on Tuesday, February 4th. Evercore ISI boosted their price objective on shares of Albertsons Companies from $21.00 to $22.00 and gave the company an "in-line" rating in a research note on Tuesday, March 11th. UBS Group cut their target price on Albertsons Companies from $24.00 to $22.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 16th. Citigroup started coverage on Albertsons Companies in a research note on Friday, January 24th. They set a "buy" rating and a $26.00 price target for the company. Finally, Telsey Advisory Group reissued an "outperform" rating and set a $26.00 target price on shares of Albertsons Companies in a research report on Friday, April 11th. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Albertsons Companies currently has a consensus rating of "Moderate Buy" and an average price target of $23.36.

Albertsons Companies Price Performance

ACI traded up $0.55 during trading on Wednesday, reaching $22.26. 7,900,514 shares of the stock were exchanged, compared to its average volume of 4,331,656. The company has a market capitalization of $12.90 billion, a price-to-earnings ratio of 12.51, a P/E/G ratio of 1.92 and a beta of 0.47. Albertsons Companies has a 1 year low of $17.00 and a 1 year high of $23.20. The business's 50 day moving average price is $21.19 and its two-hundred day moving average price is $19.99. The company has a debt-to-equity ratio of 2.31, a current ratio of 0.93 and a quick ratio of 0.21.

Albertsons Companies (NYSE:ACI - Get Free Report) last issued its quarterly earnings data on Tuesday, April 15th. The company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.06. The firm had revenue of $18.80 billion during the quarter, compared to the consensus estimate of $18.78 billion. Albertsons Companies had a return on equity of 44.70% and a net margin of 1.30%. During the same period in the previous year, the firm posted $0.54 EPS. As a group, equities research analysts anticipate that Albertsons Companies will post 2.14 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Te Ahumairangi Investment Management Ltd grew its holdings in Albertsons Companies by 8.7% in the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 322,672 shares of the company's stock worth $5,929,000 after buying an additional 25,868 shares in the last quarter. Synovus Financial Corp grew its position in Albertsons Companies by 10.0% in the 3rd quarter. Synovus Financial Corp now owns 13,192 shares of the company's stock valued at $244,000 after buying an additional 1,197 shares in the last quarter. DGS Capital Management LLC acquired a new position in Albertsons Companies during the 3rd quarter valued at about $199,000. Everence Capital Management Inc. bought a new stake in shares of Albertsons Companies during the 4th quarter worth about $242,000. Finally, Winthrop Advisory Group LLC acquired a new stake in shares of Albertsons Companies in the 4th quarter worth approximately $1,011,000. 71.35% of the stock is owned by institutional investors and hedge funds.

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.