Telsey Advisory Group Reaffirms Outperform Rating for Albertsons Companies (NYSE:ACI)

Key Points

• Telsey Advisory Group has reaffirmed an "outperform" rating for Albertsons Companies (NYSE:ACI), with a price target of $24.00, indicating a potential upside of 24.77% from its previous close.
• Albertsons reported a quarterly earnings per share (EPS) of $0.55, beating analyst expectations, with revenue of $24.88 billion, up 2.5% compared to the same quarter last year.
• Despite the positive outlook from Telsey Advisory Group, other analysts have varied targets, with JPMorgan reducing its target from $27 to $24, and Wells Fargo lowering theirs from $27 to $23.

Albertsons Companies (NYSE:ACI - Get Free Report)'s stock had its "outperform" rating reiterated by analysts at Telsey Advisory Group in a research report issued to clients and investors on Wednesday,Benzinga reports. They presently have a $24.00 price target on the stock. Telsey Advisory Group's price target indicates a potential upside of 24.77% from the company's previous close.

A number of other equities analysts also recently issued reports on the company. JPMorgan Chase & Co. reduced their price target on Albertsons Companies from $27.00 to $24.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 8th. Wells Fargo & Company lowered their target price on shares of Albertsons Companies from $27.00 to $23.00 and set an "overweight" rating on the stock in a research note on Tuesday, October 7th. Royal Bank Of Canada reduced their price target on shares of Albertsons Companies from $23.00 to $21.00 and set an "outperform" rating for the company in a research report on Friday, October 3rd. Wall Street Zen downgraded shares of Albertsons Companies from a "buy" rating to a "hold" rating in a research report on Monday, September 15th. Finally, Roth Capital reiterated a "buy" rating and issued a $24.00 price objective (up previously from $23.00) on shares of Albertsons Companies in a report on Wednesday, July 16th. Twelve analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Albertsons Companies currently has an average rating of "Moderate Buy" and a consensus target price of $23.63.

Albertsons Companies Trading Up 13.5%

Shares of Albertsons Companies stock opened at $19.24 on Wednesday. The firm has a market cap of $10.77 billion, a price-to-earnings ratio of 11.73, a PEG ratio of 1.73 and a beta of 0.49. Albertsons Companies has a twelve month low of $16.70 and a twelve month high of $23.20. The company has a quick ratio of 0.18, a current ratio of 0.82 and a debt-to-equity ratio of 2.17. The business has a 50-day moving average price of $18.57 and a 200-day moving average price of $20.47.

Albertsons Companies (NYSE:ACI - Get Free Report) last announced its earnings results on Tuesday, July 15th. The company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $24.68 billion. During the same quarter in the previous year, the business earned $0.66 earnings per share. The company's revenue for the quarter was up 2.5% compared to the same quarter last year. Equities research analysts anticipate that Albertsons Companies will post 2.14 EPS for the current fiscal year.

Institutional Trading of Albertsons Companies

A number of institutional investors have recently added to or reduced their stakes in ACI. West Oak Capital LLC acquired a new position in Albertsons Companies during the second quarter worth about $30,000. SVB Wealth LLC acquired a new position in Albertsons Companies during the first quarter worth approximately $32,000. Allworth Financial LP lifted its holdings 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 acquiring an additional 844 shares in the last quarter. Bessemer Group Inc. purchased a new stake in shares of Albertsons Companies during the 1st quarter valued at about $40,000. Finally, GAMMA Investing LLC boosted its position in Albertsons Companies by 340.1% in 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 last quarter. Hedge funds and other institutional investors own 71.35% of the company's stock.

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.

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