Albertsons Companies (NYSE:ACI) Stock Rating Upgraded by Melius

Albertsons Companies (NYSE:ACI) was upgraded by equities research analysts at Melius from a “hold” rating to a “buy” rating in a report issued on Monday, Briefing.com reports. The firm currently has a $24.00 price objective on the stock. Melius’ price objective would suggest a potential upside of 26.32% from the company’s current price.

Several other equities analysts have also commented on ACI. Wells Fargo & Company reiterated a “market perform” rating on shares of Albertsons Companies in a research note on Friday. Telsey Advisory Group reaffirmed a “market perform” rating and set a $27.25 price objective on shares of Albertsons Companies in a research note on Friday, October 11th. BMO Capital Markets decreased their target price 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 assumed coverage on shares of Albertsons Companies in a report on Monday, September 23rd. They issued a “hold” rating and a $19.00 target price for the company. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $23.03.

Albertsons Companies Stock Performance

Shares of NYSE ACI opened at $19.00 on Monday. The company has a 50-day simple moving average of $19.13 and a 200-day simple moving average of $19.82. The company has a debt-to-equity ratio of 2.67, a current ratio of 0.88 and a quick ratio of 0.21. The company has a market cap of $11.00 billion, a PE ratio of 8.52, a price-to-earnings-growth ratio of 1.02 and a beta of 0.48. Albertsons Companies has a 12 month low of $17.80 and a 12 month high of $23.47.

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

Institutional Trading of Albertsons Companies

A number of institutional investors have recently added to or reduced their stakes in ACI. Vanguard Group Inc. raised its position in Albertsons Companies by 1.0% in the first quarter. Vanguard Group Inc. now owns 33,160,009 shares of the company’s stock valued at $710,951,000 after purchasing an additional 335,783 shares during the period. LSV Asset Management raised its holdings in shares of Albertsons Companies by 1.7% during the 1st quarter. LSV Asset Management now owns 5,078,407 shares of the company’s stock valued at $108,881,000 after buying an additional 85,707 shares during the period. Marshall Wace LLP lifted its position in Albertsons Companies by 8.0% during the 2nd quarter. Marshall Wace LLP now owns 4,923,324 shares of the company’s stock worth $97,236,000 after acquiring an additional 362,813 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Albertsons Companies by 25.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,624,692 shares of the company’s stock worth $91,337,000 after acquiring an additional 924,519 shares during the period. Finally, Bank of New York Mellon Corp grew its position in Albertsons Companies by 38.7% in the second quarter. Bank of New York Mellon Corp now owns 3,426,264 shares of the company’s stock valued at $67,669,000 after acquiring an additional 956,744 shares in the last quarter. 71.35% of the stock is owned by hedge funds and other institutional investors.

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.