Albertsons Companies (NYSE:ACI) Receives Outperform Rating from Royal Bank of Canada

Albertsons Companies (NYSE:ACI)‘s stock had its “outperform” rating reaffirmed by equities researchers at Royal Bank of Canada in a report released on Wednesday,Benzinga reports. They currently have a $23.00 target price on the stock. Royal Bank of Canada’s price objective points to a potential upside of 9.39% from the stock’s previous close.

ACI has been the subject of several other research reports. Telsey Advisory Group reissued an “outperform” rating and set a $26.00 price target on shares of Albertsons Companies in a research report on Friday, April 11th. Citigroup started coverage on shares of Albertsons Companies in a research note on Friday, January 24th. They issued a “buy” rating and a $26.00 target price for the company. UBS Group decreased their price target on shares of Albertsons Companies from $24.00 to $22.00 and set a “neutral” rating on the stock in a research note on Wednesday. Evercore ISI boosted their price objective on shares of Albertsons Companies from $21.00 to $22.00 and gave the company an “in-line” rating in a research report on Tuesday, March 11th. Finally, The Goldman Sachs Group restated a “buy” rating and set a $26.00 target price on shares of Albertsons Companies in a research report on Tuesday, February 4th. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $23.36.

Albertsons Companies Price Performance

Shares of NYSE:ACI traded up $1.09 during midday trading on Wednesday, hitting $21.03. 4,301,028 shares of the stock were exchanged, compared to its average volume of 4,226,184. The company has a current ratio of 0.93, a quick ratio of 0.21 and a debt-to-equity ratio of 2.31. The company has a 50 day moving average price of $21.17 and a 200-day moving average price of $19.92. Albertsons Companies has a twelve month low of $17.00 and a twelve month high of $23.20. The stock has a market cap of $12.18 billion, a P/E ratio of 11.81, a PEG ratio of 1.92 and a beta of 0.47.

Albertsons Companies (NYSE:ACI) last announced its quarterly earnings results on Tuesday, April 15th. The company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.06. Albertsons Companies had a net margin of 1.30% and a return on equity of 44.70%. The company had revenue of $18.80 billion for the quarter, compared to the consensus estimate of $18.78 billion. During the same quarter in the prior year, the firm earned $0.54 earnings per share. On average, research analysts forecast that Albertsons Companies will post 2.14 earnings per share for the current year.

Hedge Funds Weigh In On Albertsons Companies

Several hedge funds and other institutional investors have recently modified their holdings of the company. Fifth Third Bancorp raised its holdings in Albertsons Companies by 54.8% in the first quarter. Fifth Third Bancorp now owns 2,997 shares of the company’s stock valued at $66,000 after buying an additional 1,061 shares during the period. Focus Financial Network Inc. purchased a new position in shares of Albertsons Companies in the 1st quarter valued at $205,000. Assenagon Asset Management S.A. acquired a new position in shares of Albertsons Companies during the 1st quarter valued at $206,000. GAMMA Investing LLC boosted its position in Albertsons Companies by 340.1% during the 1st quarter. GAMMA Investing LLC now owns 1,919 shares of the company’s stock worth $42,000 after purchasing an additional 1,483 shares during the period. Finally, Yousif Capital Management LLC increased its holdings in Albertsons Companies by 868.2% in the 1st quarter. Yousif Capital Management LLC now owns 153,177 shares of the company’s stock valued at $3,368,000 after purchasing an additional 137,357 shares in the last quarter. 71.35% of the stock is 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.