Albertsons Companies (NYSE:ACI) Earns Outperform Rating from Royal Bank Of Canada

Albertsons Companies (NYSE:ACI)‘s stock had its “outperform” rating reaffirmed by investment analysts at Royal Bank Of Canada in a note issued to investors on Monday,Benzinga reports. They currently have a $21.00 price target on the stock. Royal Bank Of Canada’s price target points to a potential upside of 16.44% from the company’s current price.

A number of other equities research analysts have also recently weighed in on ACI. Barclays cut their price objective on shares of Albertsons Companies from $19.00 to $17.00 and set an “underweight” rating on the stock in a report on Thursday, January 8th. Evercore cut their price objective on shares of Albertsons Companies from $21.00 to $20.00 and set an “in-line” rating on the stock in a report on Tuesday, December 23rd. Weiss Ratings restated a “hold (c-)” rating on shares of Albertsons Companies in a report on Tuesday, January 27th. JPMorgan Chase & Co. cut their price objective on shares of Albertsons Companies from $24.00 to $23.00 and set an “overweight” rating on the stock in a report on Thursday, January 8th. Finally, BMO Capital Markets cut their price target on shares of Albertsons Companies from $25.00 to $23.00 and set an “outperform” rating on the stock in a report on Thursday, January 8th. Nine equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Albertsons Companies presently has an average rating of “Hold” and an average price target of $21.58.

Albertsons Companies Price Performance

Shares of ACI opened at $18.04 on Monday. The stock has a market cap of $9.27 billion, a PE ratio of 11.64, a price-to-earnings-growth ratio of 0.50 and a beta of 0.45. The company has a debt-to-equity ratio of 3.36, a quick ratio of 0.20 and a current ratio of 0.91. Albertsons Companies has a fifty-two week low of $15.80 and a fifty-two week high of $22.78. The firm’s 50-day simple moving average is $17.51 and its two-hundred day simple moving average is $17.61.

Albertsons Companies (NYSE:ACI) last announced its quarterly earnings data on Wednesday, January 7th. The company reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.05. The business had revenue of $19.12 billion for the quarter, compared to analysts’ expectations of $19.18 billion. Albertsons Companies had a net margin of 1.06% and a return on equity of 38.00%. The business’s revenue was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.71 earnings per share. Analysts anticipate that Albertsons Companies will post 2.14 earnings per share for the current fiscal year.

Insider Activity at Albertsons Companies

In other news, EVP Michael T. Theilmann sold 49,000 shares of the stock in a transaction that occurred on Wednesday, January 14th. The shares were sold at an average price of $17.63, for a total transaction of $863,870.00. Following the sale, the executive vice president owned 289,429 shares in the company, valued at $5,102,633.27. This represents a 14.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.35% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Albertsons Companies

A number of institutional investors have recently made changes to their positions in the company. AlphaQuest LLC bought a new position in Albertsons Companies during the third quarter valued at approximately $1,492,000. Towle & Co. lifted its position in Albertsons Companies by 674.2% during the third quarter. Towle & Co. now owns 339,227 shares of the company’s stock valued at $5,940,000 after purchasing an additional 295,413 shares during the period. AGF Management Ltd. bought a new position in Albertsons Companies during the third quarter valued at approximately $2,955,000. Savoir Faire Capital Management L.P. lifted its position in Albertsons Companies by 261.1% during the third quarter. Savoir Faire Capital Management L.P. now owns 375,653 shares of the company’s stock valued at $6,578,000 after purchasing an additional 271,620 shares during the period. Finally, Counterpoint Mutual Funds LLC bought a new position in Albertsons Companies during the third quarter valued at approximately $2,307,000. Hedge funds and other institutional investors own 71.35% of the company’s stock.

About Albertsons Companies

Albertsons Companies, Inc (NYSE: ACI) is one of the largest food and drug retailers in the United States, operating a diversified portfolio of grocery store banners. Founded in 1939 by Joe Albertson in Boise, Idaho, the company has grown through both organic expansion and strategic acquisitions. Its core business activities encompass the sale of fresh produce, meat, bakery items, deli offerings, pharmacy services, and general merchandise. The company’s retail operations are complemented by an in-house private-label program, featuring brands such as O Organics, Open Nature, and Lucerne, which cater to a range of customer preferences and price points.

Throughout its history, Albertsons Companies has pursued growth via mergers and partnerships.