Albertsons Companies (NYSE:ACI) Coverage Initiated at Bank of America

Investment analysts at Bank of America initiated coverage on shares of Albertsons Companies (NYSE:ACI) in a research report issued to clients and investors on Friday. The firm set a “neutral” rating and a $22.00 price target on the stock. Bank of America‘s price objective would indicate a potential upside of 14.35% from the company’s previous close.

Several other research analysts have also commented on ACI. Evercore ISI raised their price target on shares of Albertsons Companies from $18.00 to $19.00 and gave the company an “in-line” rating in a report on Tuesday, December 3rd. Tigress Financial restated a “buy” rating and issued a $27.00 target price on shares of Albertsons Companies in a research report on Monday, October 21st. Wells Fargo & Company reiterated a “market perform” rating on shares of Albertsons Companies in a research note on Friday, October 18th. Morgan Stanley decreased their price target on shares of Albertsons Companies from $24.00 to $19.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Finally, BMO Capital Markets dropped their target price on Albertsons Companies from $21.00 to $19.00 and set a “market perform” rating on the stock in a report on Wednesday, October 16th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $22.09.

Albertsons Companies Stock Performance

NYSE:ACI traded up $0.12 during trading hours on Friday, reaching $19.24. The company had a trading volume of 2,130,310 shares, compared to its average volume of 3,208,192. The company has a debt-to-equity ratio of 2.58, a current ratio of 0.90 and a quick ratio of 0.22. Albertsons Companies has a 1-year low of $17.00 and a 1-year high of $23.47. The business’s 50 day moving average price is $18.85 and its 200-day moving average price is $19.39. The firm has a market cap of $11.15 billion, a PE ratio of 11.19, a price-to-earnings-growth ratio of 1.07 and a beta of 0.51.

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

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in ACI. Private Advisor Group LLC raised its holdings in shares of Albertsons Companies by 4.4% in the 3rd quarter. Private Advisor Group LLC now owns 13,010 shares of the company’s stock valued at $240,000 after buying an additional 544 shares during the period. Verus Capital Partners LLC increased its position in shares of Albertsons Companies by 3.6% during the second quarter. Verus Capital Partners LLC now owns 16,288 shares of the company’s stock worth $322,000 after purchasing an additional 565 shares in the last quarter. CIBC Asset Management Inc boosted its stake in Albertsons Companies by 4.9% during the 3rd quarter. CIBC Asset Management Inc now owns 19,324 shares of the company’s stock worth $357,000 after purchasing an additional 895 shares during the period. AQR Capital Management LLC boosted its stake in shares of Albertsons Companies by 1.6% during the second quarter. AQR Capital Management LLC now owns 60,655 shares of the company’s stock worth $1,198,000 after buying an additional 933 shares during the period. Finally, MRP Capital Investments LLC raised its stake in shares of Albertsons Companies by 2.7% during the second quarter. MRP Capital Investments LLC now owns 45,055 shares of the company’s stock worth $890,000 after purchasing an additional 1,185 shares during the last quarter. 71.35% of the stock is owned by institutional investors and hedge funds.

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.