Albertsons Companies (NYSE:ACI) Price Target Raised to $23.00

Albertsons Companies (NYSE:ACI) had its price target increased by Royal Bank of Canada from $22.00 to $23.00 in a report published on Thursday,Benzinga reports. The firm currently has an outperform rating on the stock.

A number of other equities analysts also recently issued reports on the company. Telsey Advisory Group reissued an “outperform” rating and set a $26.00 target price on shares of Albertsons Companies in a research note on Tuesday, March 11th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $26.00 price target on shares of Albertsons Companies in a report on Tuesday, February 4th. UBS Group decreased their price objective on Albertsons Companies from $27.00 to $24.00 and set a “neutral” rating on the stock in a research note on Tuesday, December 17th. Bank of America began coverage on Albertsons Companies in a report on Friday, December 13th. They issued a “neutral” rating and a $22.00 price target for the company. Finally, Morgan Stanley lowered 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 report on Wednesday, December 11th. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $23.50.

Albertsons Companies Stock Down 0.3 %

Albertsons Companies stock opened at $21.12 on Thursday. The company has a debt-to-equity ratio of 2.31, a quick ratio of 0.21 and a current ratio of 0.93. Albertsons Companies has a fifty-two week low of $17.00 and a fifty-two week high of $21.67. The stock has a 50-day simple moving average of $20.46 and a 200-day simple moving average of $19.49. The company has a market capitalization of $12.23 billion, a P/E ratio of 11.86, a PEG ratio of 1.92 and a beta of 0.50.

Albertsons Companies (NYSE:ACI) last released 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 return on equity of 44.70% and a net margin of 1.30%. The firm had revenue of $18.77 billion for the quarter, compared to analyst estimates of $18.82 billion. During the same quarter last year, the company posted $0.79 earnings per share. The business’s revenue was up 1.2% on a year-over-year basis. Equities research analysts expect that Albertsons Companies will post 2.14 earnings per share for the current year.

Albertsons Companies Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Friday, January 24th were issued a $0.15 dividend. The ex-dividend date was Friday, January 24th. This represents a $0.60 dividend on an annualized basis and a yield of 2.84%. This is a positive change from Albertsons Companies’s previous quarterly dividend of $0.12. Albertsons Companies’s payout ratio is currently 33.71%.

Institutional Investors Weigh In On Albertsons Companies

Hedge funds have recently bought and sold shares of the business. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Albertsons Companies in the fourth quarter valued at about $1,882,000. Mackenzie Financial Corp bought a new stake in Albertsons Companies during the 4th quarter valued at $518,000. Public Employees Retirement System of Ohio acquired a new stake in Albertsons Companies in the fourth quarter worth about $3,581,000. Pacific Point Advisors LLC bought a new position in shares of Albertsons Companies in the fourth quarter valued at approximately $248,000. Finally, Voloridge Investment Management LLC boosted its stake in Albertsons Companies by 3,052.0% during the 4th quarter. Voloridge Investment Management LLC now owns 799,966 shares of the company’s stock valued at $15,711,000 after purchasing an additional 774,586 shares in the last quarter. Institutional investors and hedge funds own 71.35% of the company’s stock.

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.