Evercore ISI Forecasts Strong Price Appreciation for Albertsons Companies (NYSE:ACI) Stock

Albertsons Companies (NYSE:ACI) had its price objective lifted by analysts at Evercore ISI from $18.00 to $19.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has an “in-line” rating on the stock. Evercore ISI’s price target would suggest a potential downside of 1.96% from the company’s current price.

Other equities analysts also recently issued research reports about the company. BMO Capital Markets lowered their price target 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. Tigress Financial reiterated a “buy” rating and issued a $27.00 target price on shares of Albertsons Companies in a research note on Monday, October 21st. Telsey Advisory Group reiterated a “market perform” rating and set a $27.25 price target on shares of Albertsons Companies in a research note on Friday, October 11th. Wells Fargo & Company restated a “market perform” rating on shares of Albertsons Companies in a research note on Friday, October 18th. Finally, Melius upgraded Albertsons Companies from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research report on Monday, October 21st. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Albertsons Companies currently has a consensus rating of “Moderate Buy” and an average price target of $23.25.

Albertsons Companies Stock Down 0.4 %

ACI stock traded down $0.07 during mid-day trading on Tuesday, hitting $19.38. The stock had a trading volume of 804,996 shares, compared to its average volume of 3,010,614. The stock has a market capitalization of $11.23 billion, a price-to-earnings ratio of 11.33, a PEG ratio of 1.16 and a beta of 0.51. The company has a current ratio of 0.90, a quick ratio of 0.22 and a debt-to-equity ratio of 2.58. Albertsons Companies has a 1-year low of $17.80 and a 1-year high of $23.47. The company has a fifty day moving average of $18.78 and a 200 day moving average of $19.47.

Albertsons Companies (NYSE:ACI) last announced its quarterly 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 company had revenue of $18.55 billion for the quarter, compared to analyst estimates of $18.47 billion. Albertsons Companies had a net margin of 1.25% and a return on equity of 49.50%. Albertsons Companies’s quarterly revenue was up 1.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.60 EPS. On average, equities analysts expect that Albertsons Companies will post 2.13 EPS for the current fiscal year.

Institutional Investors Weigh In On Albertsons Companies

Institutional investors have recently modified their holdings of the business. Synovus Financial Corp grew its position in shares of Albertsons Companies by 10.0% during the 3rd quarter. Synovus Financial Corp now owns 13,192 shares of the company’s stock worth $244,000 after buying an additional 1,197 shares during the period. Te Ahumairangi Investment Management Ltd increased its position in shares of Albertsons Companies by 8.7% during the third quarter. Te Ahumairangi Investment Management Ltd now owns 322,672 shares of the company’s stock worth $5,929,000 after acquiring an additional 25,868 shares in the last quarter. Rehmann Capital Advisory Group increased its holdings in Albertsons Companies by 12.1% during the 3rd quarter. Rehmann Capital Advisory Group now owns 23,612 shares of the company’s stock worth $441,000 after purchasing an additional 2,549 shares in the last quarter. Toronto Dominion Bank boosted its position in Albertsons Companies by 42.8% during the 3rd quarter. Toronto Dominion Bank now owns 47,561 shares of the company’s stock worth $879,000 after acquiring an additional 14,266 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in Albertsons Companies by 7.0% in the third quarter. Geode Capital Management LLC now owns 9,063,266 shares of the company’s stock valued at $167,229,000 after purchasing an additional 592,711 shares in the last quarter. Institutional investors and hedge funds 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.