Albertsons Companies (NYSE:ACI) Price Target Cut to $22.00

Albertsons Companies (NYSE:ACI) had its target price lowered by research analysts at Royal Bank of Canada from $23.00 to $22.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective would suggest a potential upside of 8.70% from the stock’s current price.

A number of other research firms have also recently commented on ACI. Evercore ISI lowered their target price on shares of Albertsons Companies from $23.00 to $22.00 and set an “in-line” rating for the company in a research note on Tuesday, April 16th. Tigress Financial restated a “buy” rating and issued a $27.00 target price on shares of Albertsons Companies in a research note on Friday, January 12th. Roth Mkm boosted their price target on Albertsons Companies from $23.00 to $24.00 and gave the company a “neutral” rating in a research note on Wednesday, January 10th. Finally, Telsey Advisory Group reissued a “market perform” rating and issued a $27.25 price objective on shares of Albertsons Companies in a report on Wednesday, April 17th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $24.45.

Albertsons Companies Trading Down 0.5 %

Albertsons Companies stock opened at $20.24 on Tuesday. The company has a debt-to-equity ratio of 3.09, a quick ratio of 0.19 and a current ratio of 0.85. The stock has a market cap of $11.66 billion, a PE ratio of 8.65, a price-to-earnings-growth ratio of 0.96 and a beta of 0.50. The stock has a 50-day moving average of $20.90 and a two-hundred day moving average of $21.64. Albertsons Companies has a one year low of $19.88 and a one year high of $23.88.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of ACI. Norges Bank purchased a new position in shares of Albertsons Companies during the 4th quarter valued at approximately $312,510,000. Vanguard Group Inc. increased its holdings in Albertsons Companies by 9.8% in the third quarter. Vanguard Group Inc. now owns 33,144,018 shares of the company’s stock valued at $754,026,000 after buying an additional 2,950,786 shares in the last quarter. Westchester Capital Management LLC acquired a new position in shares of Albertsons Companies in the third quarter worth about $64,739,000. Hsbc Holdings PLC boosted its stake in shares of Albertsons Companies by 232.2% during the 3rd quarter. Hsbc Holdings PLC now owns 2,485,704 shares of the company’s stock worth $56,596,000 after acquiring an additional 1,737,466 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Albertsons Companies by 95.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,230,794 shares of the company’s stock valued at $50,751,000 after acquiring an additional 1,092,150 shares during the period. 71.35% of the stock is owned by institutional investors and hedge funds.

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.