BMO Capital Markets Cuts Albertsons Companies (NYSE:ACI) Price Target to $19.00

Albertsons Companies (NYSE:ACI) had its price objective reduced by equities research analysts at BMO Capital Markets from $21.00 to $19.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has a “market perform” rating on the stock. BMO Capital Markets’ price objective would indicate a potential upside of 3.09% from the stock’s previous close.

ACI has been the topic of several other reports. Melius Research began coverage on Albertsons Companies in a research note on Monday, September 23rd. They issued a “hold” rating and a $19.00 price objective on the stock. Telsey Advisory Group reaffirmed a “market perform” rating and set a $27.25 price target on shares of Albertsons Companies in a research report on Friday, October 11th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $22.89.

Albertsons Companies Stock Performance

Shares of ACI stock opened at $18.43 on Wednesday. The company has a debt-to-equity ratio of 2.67, a quick ratio of 0.21 and a current ratio of 0.88. The firm has a market capitalization of $10.67 billion, a price-to-earnings ratio of 8.26, a price-to-earnings-growth ratio of 1.02 and a beta of 0.48. Albertsons Companies has a one year low of $17.80 and a one year high of $23.47. The company has a 50 day moving average price of $19.14 and a 200 day moving average price of $19.85.

Albertsons Companies (NYSE:ACI) last released its quarterly earnings data on Tuesday, October 15th. The company reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.03. Albertsons Companies had a return on equity of 56.01% and a net margin of 1.41%. The business had revenue of $18.55 billion during the quarter, compared to the consensus estimate of $18.47 billion. During the same period in the prior year, the firm posted $0.60 EPS. The business’s revenue for the quarter was up 1.4% on a year-over-year basis. Sell-side analysts anticipate that Albertsons Companies will post 2.25 EPS for the current year.

Institutional Trading of Albertsons Companies

A number of hedge funds have recently made changes to their positions in the company. PNC Financial Services Group Inc. increased its stake in Albertsons Companies by 41.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 7,616 shares of the company’s stock worth $175,000 after buying an additional 2,250 shares during the period. Alaska Permanent Fund Corp lifted its stake in shares of Albertsons Companies by 4.6% in the first quarter. Alaska Permanent Fund Corp now owns 117,787 shares of the company’s stock worth $2,525,000 after acquiring an additional 5,139 shares in the last quarter. Eagle Rock Investment Company LLC lifted its stake in shares of Albertsons Companies by 31.8% in the first quarter. Eagle Rock Investment Company LLC now owns 58,148 shares of the company’s stock worth $1,247,000 after acquiring an additional 14,013 shares in the last quarter. TrueMark Investments LLC purchased a new position in Albertsons Companies in the first quarter valued at about $1,147,000. Finally, Wealth Enhancement Advisory Services LLC grew its stake in Albertsons Companies by 5.2% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 43,304 shares of the company’s stock valued at $928,000 after purchasing an additional 2,144 shares in the last quarter. Hedge funds and other 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.