Albertsons Companies (NYSE:ACI) Earns Buy Rating from Analysts at Citigroup

Analysts at Citigroup assumed coverage on shares of Albertsons Companies (NYSE:ACI) in a note issued to investors on Friday, Marketbeat reports. The brokerage set a “buy” rating and a $26.00 price target on the stock. Citigroup’s target price suggests a potential upside of 30.95% from the company’s current price.

Other equities analysts have also issued reports about the stock. Evercore ISI increased their price target on shares of Albertsons Companies from $18.00 to $19.00 and gave the company an “in-line” rating in a research note on Tuesday, December 3rd. UBS Group cut their price target on shares of Albertsons Companies from $27.00 to $24.00 and set a “neutral” rating on the stock in a research note on Tuesday, December 17th. Morgan Stanley decreased their price objective on shares of Albertsons Companies from $24.00 to $19.00 and set an “equal weight” rating for the company in a research note on Wednesday, December 11th. Melius upgraded Albertsons Companies from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a research report on Monday, October 21st. Finally, BMO Capital Markets decreased their target price on Albertsons Companies from $21.00 to $19.00 and set a “market perform” rating for the company in a research report on Wednesday, October 16th. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $23.00.

Albertsons Companies Stock Performance

Shares of ACI opened at $19.86 on Friday. Albertsons Companies has a 1 year low of $17.00 and a 1 year high of $21.92. The stock has a market capitalization of $11.50 billion, a PE ratio of 11.15, a PEG ratio of 1.83 and a beta of 0.51. The company has a debt-to-equity ratio of 2.31, a quick ratio of 0.21 and a current ratio of 0.93. The stock has a 50-day simple moving average of $19.55 and a 200-day simple moving average of $19.33.

Albertsons Companies (NYSE:ACI) last issued its quarterly earnings results on Wednesday, January 8th. The company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.07. Albertsons Companies had a net margin of 1.30% and a return on equity of 44.70%. The company had revenue of $18.77 billion during the quarter, compared to the consensus estimate of $18.82 billion. During the same quarter in the previous year, the firm earned $0.79 earnings per share. The firm’s quarterly revenue was up 1.2% on a year-over-year basis. On average, analysts predict that Albertsons Companies will post 2.14 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Albertsons Companies

Hedge funds and other institutional investors have recently bought and sold shares of the company. Private Advisor Group LLC raised its position in Albertsons Companies by 4.4% during the 3rd quarter. Private Advisor Group LLC now owns 13,010 shares of the company’s stock worth $240,000 after buying an additional 544 shares during the last quarter. Eagle Bay Advisors LLC raised its holdings in Albertsons Companies by 108.4% during the fourth quarter. Eagle Bay Advisors LLC now owns 1,346 shares of the company’s stock worth $26,000 after purchasing an additional 700 shares in the last quarter. CIBC Asset Management Inc lifted its position in Albertsons Companies by 4.9% in the third quarter. CIBC Asset Management Inc now owns 19,324 shares of the company’s stock valued at $357,000 after purchasing an additional 895 shares during the period. AQR Capital Management LLC lifted its position in Albertsons Companies by 1.6% in the second quarter. AQR Capital Management LLC now owns 60,655 shares of the company’s stock valued at $1,198,000 after purchasing an additional 933 shares during the period. Finally, Synovus Financial Corp boosted its holdings in Albertsons Companies by 10.0% in the 3rd quarter. Synovus Financial Corp now owns 13,192 shares of the company’s stock valued at $244,000 after purchasing an additional 1,197 shares in the last quarter. 71.35% of the stock is currently owned by hedge funds and other institutional investors.

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.