JPMorgan Chase & Co. Cuts Albertsons Companies (NYSE:ACI) Price Target to $24.00

Key Points

• JPMorgan Chase & Co. has lowered its price target for Albertsons Companies from $27.00 to $24.00, maintaining an "overweight" rating on the stock, which still indicates a potential upside of 38.29% from its previous close.
• Analyst opinions on Albertsons Companies vary, with some downgrading the stock to "hold" while others maintain it as "buy" or "outperform," reflecting mixed sentiment in the market.
• Albertsons Companies recently reported earnings that exceeded expectations with a net margin of 1.18% and revenue of $24.88 billion for the quarter, signaling steady financial performance despite the adjusted price targets.

Albertsons Companies (NYSE:ACI - Get Free Report) had its price objective reduced by analysts at JPMorgan Chase & Co. from $27.00 to $24.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s target price indicates a potential upside of 38.29% from the stock's previous close.

A number of other research analysts have also recently commented on ACI. Wall Street Zen cut Albertsons Companies from a "buy" rating to a "hold" rating in a research note on Monday, September 15th. Zacks Research upgraded Albertsons Companies from a "strong sell" rating to a "hold" rating in a report on Monday, August 25th. Weiss Ratings reiterated a "hold (c)" rating on shares of Albertsons Companies in a report on Wednesday. Telsey Advisory Group restated an "outperform" rating and issued a $24.00 target price on shares of Albertsons Companies in a research note on Thursday, October 2nd. Finally, Wells Fargo & Company cut their price target on Albertsons Companies from $27.00 to $23.00 and set an "overweight" rating on the stock in a research report on Tuesday. Twelve equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $23.63.

Albertsons Companies Price Performance

Shares of NYSE:ACI traded up $0.17 during mid-day trading on Wednesday, reaching $17.36. The stock had a trading volume of 5,233,092 shares, compared to its average volume of 6,079,134. The company has a market cap of $9.72 billion, a P/E ratio of 10.58, a price-to-earnings-growth ratio of 1.72 and a beta of 0.49. The business's 50 day moving average price is $18.75 and its 200 day moving average price is $20.60. The company has a current ratio of 0.82, a quick ratio of 0.18 and a debt-to-equity ratio of 2.17. Albertsons Companies has a 1 year low of $16.70 and a 1 year high of $23.20.

Albertsons Companies (NYSE:ACI - Get Free Report) last released its quarterly earnings data on Tuesday, July 15th. The company reported $0.55 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.54 by $0.01. Albertsons Companies had a return on equity of 37.92% and a net margin of 1.18%.The business had revenue of $24.88 billion for the quarter, compared to the consensus estimate of $24.68 billion. During the same quarter in the previous year, the company posted $0.66 EPS. The company's revenue was up 2.5% compared to the same quarter last year. Albertsons Companies has set its FY 2025 guidance at 2.030-2.160 EPS. Research analysts expect that Albertsons Companies will post 2.14 EPS for the current fiscal year.

Institutional Trading of Albertsons Companies

Institutional investors have recently made changes to their positions in the company. West Oak Capital LLC purchased a new stake in shares of Albertsons Companies during the 2nd quarter valued at approximately $30,000. SVB Wealth LLC purchased a new stake in shares of Albertsons Companies during the 1st quarter valued at approximately $32,000. Allworth Financial LP raised its position in shares of Albertsons Companies by 98.4% during the 2nd quarter. Allworth Financial LP now owns 1,702 shares of the company's stock valued at $37,000 after buying an additional 844 shares during the period. Bessemer Group Inc. purchased a new stake in shares of Albertsons Companies during the 1st quarter valued at approximately $40,000. Finally, GAMMA Investing LLC raised its position in shares of Albertsons Companies by 340.1% during the 1st quarter. GAMMA Investing LLC now owns 1,919 shares of the company's stock valued at $42,000 after buying an additional 1,483 shares during the period. Hedge funds and other institutional investors own 71.35% of the company's stock.

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.

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