Albertsons Companies (NYSE:ACI) Given Buy Rating at Roth Capital

Albertsons Companies (NYSE:ACI - Get Free Report)'s stock had its "buy" rating reissued by equities researchers at Roth Capital in a research report issued to clients and investors on Wednesday,Benzinga reports. They currently have a $24.00 target price on the stock, up from their previous target price of $23.00. Roth Capital's price target would indicate a potential upside of 17.24% from the stock's previous close.

A number of other brokerages have also recently commented on ACI. BMO Capital Markets upgraded shares of Albertsons Companies from a "market perform" rating to an "outperform" rating and increased their price target for the company from $19.00 to $25.00 in a research note on Wednesday, May 7th. Tigress Financial restated a "buy" rating and set a $28.00 target price on shares of Albertsons Companies in a research note on Tuesday, July 8th. Telsey Advisory Group restated an "outperform" rating and set a $24.00 target price on shares of Albertsons Companies in a research note on Wednesday. Evercore ISI cut their target price on shares of Albertsons Companies from $23.00 to $22.00 and set an "in-line" rating for the company in a research note on Thursday, April 17th. Finally, Royal Bank Of Canada restated an "outperform" rating and set a $23.00 target price on shares of Albertsons Companies in a research note on Wednesday, April 16th. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $24.20.

Albertsons Companies Stock Up 1.1%

Shares of ACI stock traded up $0.23 during trading hours on Wednesday, hitting $20.47. 7,587,961 shares of the company were exchanged, compared to its average volume of 5,118,534. The business has a 50 day moving average of $21.67 and a two-hundred day moving average of $21.22. The company has a current ratio of 0.82, a quick ratio of 0.22 and a debt-to-equity ratio of 2.17. Albertsons Companies has a 52 week low of $17.00 and a 52 week high of $23.20. The company has a market capitalization of $11.79 billion, a PE ratio of 12.48, a PEG ratio of 2.05 and a beta of 0.44.

Albertsons Companies (NYSE:ACI - Get Free Report) last announced its earnings results on Tuesday, July 15th. The company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.54 by $0.01. Albertsons Companies had a net margin of 1.18% and a return on equity of 37.92%. The business had revenue of $24.88 billion during the quarter, compared to analysts' expectations of $24.68 billion. During the same quarter in the prior year, the company posted $0.66 earnings per share. The firm's revenue was up 2.5% on a year-over-year basis. Analysts anticipate that Albertsons Companies will post 2.14 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP Omer Gajial sold 47,303 shares of the firm's stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $21.46, for a total value of $1,015,122.38. Following the sale, the executive vice president directly owned 162,569 shares in the company, valued at approximately $3,488,730.74. This trade represents a 22.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.35% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Albertsons Companies

A number of hedge funds have recently made changes to their positions in the stock. Proficio Capital Partners LLC acquired a new stake in Albertsons Companies during the 4th quarter worth approximately $243,000. Raymond James Financial Inc. acquired a new stake in Albertsons Companies during the 4th quarter worth approximately $15,544,000. EverSource Wealth Advisors LLC boosted its position in Albertsons Companies by 316.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,787 shares of the company's stock worth $35,000 after buying an additional 1,358 shares during the period. Farther Finance Advisors LLC boosted its position in Albertsons Companies by 13,314.5% during the 4th quarter. Farther Finance Advisors LLC now owns 9,256 shares of the company's stock worth $182,000 after buying an additional 9,187 shares during the period. Finally, Commonwealth Equity Services LLC boosted its position in Albertsons Companies by 913.8% during the 4th quarter. Commonwealth Equity Services LLC now owns 340,710 shares of the company's stock worth $6,692,000 after buying an additional 307,102 shares during the period. 71.35% of the stock is currently owned by institutional investors and hedge funds.

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.