Albertsons Companies (NYSE:ACI) Upgraded to “Outperform” at Telsey Advisory Group

Albertsons Companies (NYSE:ACI) was upgraded by research analysts at Telsey Advisory Group from a “market perform” rating to an “outperform” rating in a report issued on Tuesday, Marketbeat Ratings reports. The firm currently has a $26.00 price objective on the stock, up from their prior price objective of $21.00. Telsey Advisory Group’s target price would suggest a potential upside of 37.20% from the company’s previous close.

A number of other research analysts also recently weighed in on ACI. Royal Bank of Canada lowered their target price on Albertsons Companies from $22.00 to $21.00 and set an “outperform” rating on the stock in a report on Wednesday, December 11th. Wells Fargo & Company reiterated a “market perform” rating on shares of Albertsons Companies in a research note on Friday, October 18th. Morgan Stanley cut their target price on shares of Albertsons Companies from $24.00 to $19.00 and set an “equal weight” rating for the company in a research report on Wednesday, December 11th. BMO Capital Markets decreased their price target on shares of Albertsons Companies from $21.00 to $19.00 and set a “market perform” rating on the stock in a research report on Wednesday, October 16th. Finally, Melius Research raised shares of Albertsons Companies from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research report on Monday, October 21st. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.75.

Albertsons Companies Stock Performance

Shares of NYSE ACI opened at $18.95 on Tuesday. The firm’s 50-day moving average price is $18.93 and its 200-day moving average price is $19.36. Albertsons Companies has a 52-week low of $17.00 and a 52-week high of $23.47. The company has a market cap of $10.98 billion, a PE ratio of 11.08, a PEG ratio of 1.07 and a beta of 0.51. The company has a quick ratio of 0.22, a current ratio of 0.90 and a debt-to-equity ratio of 2.58.

Albertsons Companies (NYSE:ACI) last posted its earnings results on Tuesday, October 15th. The company reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.03. The business had revenue of $18.55 billion during the quarter, compared to the consensus estimate of $18.47 billion. Albertsons Companies had a net margin of 1.25% and a return on equity of 49.50%. The firm’s revenue was up 1.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.60 EPS. As a group, analysts anticipate that Albertsons Companies will post 2.13 EPS for the current year.

Hedge Funds Weigh In On Albertsons Companies

A number of hedge funds have recently made changes to their positions in ACI. Signaturefd LLC boosted its position in shares of Albertsons Companies by 108.4% during the second quarter. Signaturefd LLC now owns 2,365 shares of the company’s stock worth $47,000 after acquiring an additional 1,230 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of Albertsons Companies by 2,948.4% during the 2nd quarter. Blue Trust Inc. now owns 2,896 shares of the company’s stock valued at $62,000 after purchasing an additional 2,801 shares during the last quarter. Intact Investment Management Inc. purchased a new position in shares of Albertsons Companies during the second quarter valued at about $126,000. Acadian Asset Management LLC bought a new stake in shares of Albertsons Companies in the second quarter worth about $150,000. Finally, Headlands Technologies LLC lifted its position in shares of Albertsons Companies by 2,243.9% in the second quarter. Headlands Technologies LLC now owns 8,977 shares of the company’s stock worth $177,000 after buying an additional 8,594 shares in the last quarter. Institutional investors 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.