Albertsons Companies (NYSE:ACI) Rating Increased to Buy at Wall Street Zen

Key Points

• Albertsons Companies has been upgraded from a "hold" to a "buy" rating by Wall Street Zen, signaling increased confidence from analysts in the company's future performance.
• Despite the positive upgrade, Albertsons' shares decreased by 2.8%, with current trading around $18.66, indicating mixed market reactions.
• Insider trading activity revealed significant sales, with two executives selling a combined total of 330,000 shares, raising concerns about insider confidence in the stock.

Albertsons Companies (NYSE:ACI - Get Free Report) was upgraded by analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a report issued on Saturday.

ACI has been the subject of several other research reports. JPMorgan Chase & Co. lowered their target price on Albertsons Companies from $27.00 to $24.00 and set an "overweight" rating for the company in a research note on Wednesday, October 8th. Telsey Advisory Group reissued an "outperform" rating and set a $24.00 target price on shares of Albertsons Companies in a research note on Wednesday, October 15th. Barclays initiated coverage on Albertsons Companies in a report on Monday, July 21st. They set an "underweight" rating and a $19.00 price target on the stock. Tigress Financial upped their price objective on Albertsons Companies from $28.00 to $29.00 and gave the company a "buy" rating in a research note on Monday, October 20th. Finally, Royal Bank Of Canada lowered their price objective on Albertsons Companies from $23.00 to $21.00 and set an "outperform" rating for the company in a research note on Friday, October 3rd. Ten research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $23.50.

Albertsons Companies Stock Down 2.8%

Shares of NYSE ACI opened at $18.66 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.20 and a debt-to-equity ratio of 2.25. The company has a market cap of $10.25 billion, a price-to-earnings ratio of 11.04, a PEG ratio of 3.13 and a beta of 0.49. Albertsons Companies has a 12 month low of $16.70 and a 12 month high of $23.20. The stock has a 50-day moving average price of $18.56 and a two-hundred day moving average price of $20.34.

Insider Activity at Albertsons Companies

In related news, EVP Michael T. Theilmann sold 100,000 shares of the company's stock in a transaction that occurred on Thursday, October 16th. The stock was sold at an average price of $19.35, for a total value of $1,935,000.00. Following the sale, the executive vice president directly owned 338,429 shares in the company, valued at $6,548,601.15. This represents a 22.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Anuj Dhanda sold 230,000 shares of the company's stock in a transaction that occurred on Thursday, October 16th. The shares were sold at an average price of $19.25, for a total value of $4,427,500.00. Following the completion of the sale, the insider owned 300,577 shares in the company, valued at $5,786,107.25. The trade was a 43.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.35% of the company's stock.

Institutional Trading of Albertsons Companies

Institutional investors have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC bought a new stake in Albertsons Companies in the first quarter valued at approximately $1,420,000. Bessemer Group Inc. bought a new stake in Albertsons Companies in the first quarter valued at approximately $40,000. Atlas Capital Advisors Inc. boosted its holdings in Albertsons Companies by 241.6% in the first quarter. Atlas Capital Advisors Inc. now owns 23,154 shares of the company's stock valued at $509,000 after acquiring an additional 16,375 shares during the last quarter. Teacher Retirement System of Texas bought a new stake in Albertsons Companies in the first quarter valued at approximately $1,329,000. Finally, Asset Management One Co. Ltd. boosted its holdings in Albertsons Companies by 9.1% in the first quarter. Asset Management One Co. Ltd. now owns 241,727 shares of the company's stock valued at $5,316,000 after acquiring an additional 20,222 shares during the last quarter. 71.35% of the stock is currently owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.