Albertsons Companies (NYSE:ACI) Rating Increased to Buy at Roth Mkm

Albertsons Companies (NYSE:ACI) was upgraded by research analysts at Roth Mkm from a “neutral” rating to a “buy” rating in a research note issued to investors on Tuesday, Briefing.com reports. The firm currently has a $24.00 target price on the stock. Roth Mkm’s target price would indicate a potential upside of 18.58% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the company. Royal Bank of Canada decreased their target price on Albertsons Companies from $23.00 to $22.00 and set an “outperform” rating for the company in a research note on Tuesday. Tigress Financial reiterated a “buy” rating and issued a $27.00 price target on shares of Albertsons Companies in a report on Friday, January 12th. Telsey Advisory Group reissued a “market perform” rating and issued a $27.25 price objective on shares of Albertsons Companies in a research note on Wednesday, April 17th. Finally, Evercore ISI reduced their price objective on Albertsons Companies from $23.00 to $22.00 and set an “in-line” rating for the company in a research note on Tuesday, April 16th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $24.45.

Albertsons Companies Trading Down 0.5 %

NYSE ACI opened at $20.24 on Tuesday. The business has a 50 day simple moving average of $20.90 and a 200 day simple moving average of $21.64. Albertsons Companies has a one year low of $19.88 and a one year high of $23.88. The stock has a market capitalization of $11.66 billion, a P/E ratio of 8.65, a P/E/G ratio of 0.96 and a beta of 0.50. The company has a debt-to-equity ratio of 3.09, a current ratio of 0.85 and a quick ratio of 0.19.

Institutional Investors Weigh In On Albertsons Companies

A number of hedge funds have recently added to or reduced their stakes in ACI. IFM Investors Pty Ltd boosted its position in shares of Albertsons Companies by 19.2% during the first quarter. IFM Investors Pty Ltd now owns 69,571 shares of the company’s stock valued at $1,492,000 after buying an additional 11,224 shares during the last quarter. Denali Advisors LLC boosted its position in shares of Albertsons Companies by 540,666.7% during the first quarter. Denali Advisors LLC now owns 32,446 shares of the company’s stock valued at $696,000 after buying an additional 32,440 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Albertsons Companies by 0.3% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 691,123 shares of the company’s stock valued at $14,818,000 after buying an additional 1,936 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of Albertsons Companies by 5.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 43,304 shares of the company’s stock valued at $928,000 after buying an additional 2,144 shares during the last quarter. Finally, TrueMark Investments LLC purchased a new position in shares of Albertsons Companies during the first quarter valued at approximately $1,147,000. Institutional investors and hedge funds 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.