Evercore ISI Lowers Albertsons Companies (NYSE:ACI) Price Target to $22.00

Albertsons Companies (NYSE:ACI) had its target price reduced by analysts at Evercore ISI from $23.00 to $22.00 in a report issued on Tuesday, Benzinga reports. The firm presently has an “in-line” rating on the stock. Evercore ISI’s price target points to a potential upside of 9.13% from the company’s current price.

Several other equities research analysts have also recently weighed in on ACI. Roth Mkm upped their target price on Albertsons Companies from $23.00 to $24.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 10th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $27.25 price objective on shares of Albertsons Companies in a research note on Thursday, January 4th. Royal Bank of Canada reissued an “outperform” rating and issued a $24.00 target price on shares of Albertsons Companies in a report on Tuesday, February 13th. Finally, Tigress Financial reaffirmed a “buy” rating and set a $27.00 price target on shares of Albertsons Companies in a report on Friday, January 12th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $24.85.

Albertsons Companies Price Performance

Shares of Albertsons Companies stock traded down $0.08 on Tuesday, reaching $20.16. 333,336 shares of the stock were exchanged, compared to its average volume of 3,483,597. The company has a debt-to-equity ratio of 3.09, a quick ratio of 0.19 and a current ratio of 0.85. The firm has a market cap of $11.61 billion, a PE ratio of 8.62, a P/E/G ratio of 0.96 and a beta of 0.50. The firm’s 50 day moving average is $20.99 and its 200-day moving average is $21.73. Albertsons Companies has a one year low of $19.88 and a one year high of $23.88.

Hedge Funds Weigh In On Albertsons Companies

Several large investors have recently modified their holdings of the business. Norges Bank bought a new position in Albertsons Companies during the 4th quarter worth $312,510,000. BlackRock Inc. increased its position in Albertsons Companies by 99.6% during the 2nd quarter. BlackRock Inc. now owns 15,729,051 shares of the company’s stock valued at $343,208,000 after purchasing an additional 7,848,362 shares during the period. Vanguard Group Inc. lifted its position in shares of Albertsons Companies by 95.1% in the 3rd quarter. Vanguard Group Inc. now owns 15,614,698 shares of the company’s stock worth $388,181,000 after purchasing an additional 7,613,034 shares during the period. State Street Corp boosted its stake in shares of Albertsons Companies by 108.9% in the 2nd quarter. State Street Corp now owns 6,658,159 shares of the company’s stock valued at $145,281,000 after purchasing an additional 3,470,188 shares during the last quarter. Finally, Westchester Capital Management LLC acquired a new stake in shares of Albertsons Companies during the third quarter worth $64,739,000. 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.