Albertsons Companies (NYSE:ACI) Upgraded to “Buy” by Roth Mkm

Roth Mkm upgraded shares of Albertsons Companies (NYSE:ACI) from a neutral rating to a buy rating in a research note published on Tuesday, Marketbeat reports. The brokerage currently has $24.00 price target on the stock.

ACI has been the subject of a number of other research reports. Evercore ISI dropped their target price on Albertsons Companies from $23.00 to $22.00 and set an in-line rating for the company in a report on Tuesday, April 16th. Telsey Advisory Group reissued a market perform rating and set a $27.25 price objective on shares of Albertsons Companies in a research note on Wednesday, April 17th. Tigress Financial reissued a buy rating and issued a $27.00 target price on shares of Albertsons Companies in a research note on Friday, January 12th. Finally, Royal Bank of Canada lowered their price target on Albertsons Companies from $23.00 to $22.00 and set an outperform rating for the company in a research report on Tuesday. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $24.45.

Albertsons Companies Price Performance

Shares of NYSE:ACI opened at $20.14 on Tuesday. The company has a quick ratio of 0.19, a current ratio of 0.84 and a debt-to-equity ratio of 2.83. The stock has a market cap of $11.63 billion, a PE ratio of 9.03, a PEG ratio of 0.95 and a beta of 0.50. The company’s fifty day moving average is $20.83 and its 200 day moving average is $21.60. Albertsons Companies has a 52 week low of $19.84 and a 52 week high of $23.88.

Albertsons Companies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 26th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 2.38%. The ex-dividend date of this dividend is Thursday, April 25th. Albertsons Companies’s dividend payout ratio (DPR) is 21.52%.

Institutional Investors Weigh In On Albertsons Companies

A number of institutional investors have recently modified their holdings of the stock. NBC Securities Inc. purchased a new stake in Albertsons Companies during the 3rd quarter valued at about $28,000. Blue Trust Inc. grew its holdings in shares of Albertsons Companies by 255.1% during the fourth quarter. Blue Trust Inc. now owns 1,463 shares of the company’s stock valued at $34,000 after buying an additional 1,051 shares during the last quarter. Van ECK Associates Corp bought a new stake in shares of Albertsons Companies during the third quarter valued at approximately $52,000. Principal Securities Inc. bought a new stake in shares of Albertsons Companies during the fourth quarter valued at approximately $62,000. Finally, CI Investments Inc. raised its holdings in Albertsons Companies by 21.8% in the 3rd quarter. CI Investments Inc. now owns 4,373 shares of the company’s stock worth $99,000 after acquiring an additional 783 shares during the last quarter. 71.35% of the stock is owned by hedge funds and other institutional investors.

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.