Albertsons Companies Inc’s (NYSE:ACI) Quiet Period To End on August 5th

Albertsons Companies’ (NYSE:ACI) quiet period will end on Wednesday, August 5th. Albertsons Companies had issued 50,000,000 shares in its IPO on June 26th. The total size of the offering was $800,000,000 based on an initial share price of $16.00. During Albertsons Companies’ quiet period, underwriters and any insiders involved in the IPO are prevented from issuing any research reports for the company because of SEC regulations. Following the expiration of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.

A number of analysts recently commented on the company. Citigroup assumed coverage on Albertsons Companies in a research report on Tuesday, July 21st. They set a “buy” rating and a $22.00 price objective for the company. Guggenheim began coverage on Albertsons Companies in a report on Tuesday, July 21st. They set a “buy” rating and a $20.00 price target for the company. JPMorgan Chase & Co. began coverage on Albertsons Companies in a report on Tuesday, July 21st. They set an “overweight” rating and a $19.00 price target for the company. BMO Capital Markets began coverage on Albertsons Companies in a report on Tuesday, July 21st. They set an “outperform” rating and a $18.00 price target for the company. Finally, Deutsche Bank began coverage on Albertsons Companies in a report on Tuesday, July 21st. They set a “buy” rating and a $21.00 price target for the company. Three analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Albertsons Companies currently has a consensus rating of “Buy” and an average target price of $20.44.

NYSE ACI opened at $14.86 on Friday. Albertsons Companies has a twelve month low of $13.72 and a twelve month high of $16.50.

Albertsons Companies (NYSE:ACI) last announced its quarterly earnings results on Monday, July 27th. The company reported $1.35 EPS for the quarter, beating analysts’ consensus estimates of $1.32 by $0.03. The firm had revenue of $22.75 billion for the quarter, compared to the consensus estimate of $22.62 billion. Albertsons Companies’s revenue was up 21.4% compared to the same quarter last year. As a group, analysts anticipate that Albertsons Companies will post 2.18 EPS for the current fiscal year.

In related news, insider Realty Corp Kimco sold 4,675,726 shares of the stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $15.27, for a total transaction of $71,398,336.02. 1.70% of the stock is currently owned by corporate insiders.

An institutional investor recently bought a new position in Albertsons Companies stock. UBS Group AG acquired a new stake in shares of Albertsons Companies Inc (NYSE:ACI) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 150,825 shares of the company’s stock, valued at approximately $2,378,000.

Albertsons Companies Company Profile

Albertsons Companies, Inc, through its subsidiaries, operates as a food and drug retailer in the United States. Its food and drug retail stores offer grocery products, general merchandise, health and beauty care products, pharmacy, fuel, and other items and services. As of February 29, 2020, the company operated 2,252 stores under various banners, including Albertsons, Safeway, Vons, Jewel-Osco, Shaw's, Acme, Tom Thumb, Randalls, United Supermarkets, Market Street, Pavilions, Star Market, Carrs, and Haggen; and 1,726 pharmacies, 1,290 in-store branded coffee shops, and 402 adjacent fuel centers.

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