Melius Research Initiates Coverage on Albertsons Companies (NYSE:ACI)

Investment analysts at Melius Research started coverage on shares of Albertsons Companies (NYSE:ACI) in a note issued to investors on Monday, Benzinga reports. The firm set a “hold” rating and a $19.00 price target on the stock. Melius Research’s target price would indicate a potential upside of 2.81% from the stock’s current price.

Separately, Telsey Advisory Group reaffirmed a “market perform” rating and issued a $27.25 price target on shares of Albertsons Companies in a report on Thursday, July 18th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $23.54.

Albertsons Companies Trading Down 1.0 %

Albertsons Companies stock traded down $0.19 during trading hours on Monday, reaching $18.48. The company had a trading volume of 1,419,523 shares, compared to its average volume of 3,013,203. 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 firm has a market cap of $10.70 billion, a price-to-earnings ratio of 8.27, a P/E/G ratio of 1.02 and a beta of 0.49. Albertsons Companies has a 12-month low of $17.80 and a 12-month high of $23.47. The company has a 50-day moving average price of $19.68 and a 200 day moving average price of $20.18.

Albertsons Companies (NYSE:ACI) last released its earnings results on Tuesday, July 23rd. The company reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.01). Albertsons Companies had a net margin of 1.41% and a return on equity of 56.01%. The firm had revenue of $24.27 billion during the quarter, compared to analysts’ expectations of $24.16 billion. During the same quarter in the previous year, the business earned $0.89 EPS. The company’s revenue for the quarter was up .9% compared to the same quarter last year. Equities analysts forecast that Albertsons Companies will post 2.26 earnings per share for the current year.

Institutional Trading of Albertsons Companies

Several hedge funds have recently made changes to their positions in ACI. Geneos Wealth Management Inc. acquired a new stake in Albertsons Companies during the first quarter worth approximately $41,000. Signaturefd LLC lifted its position in Albertsons Companies by 108.4% during the second quarter. Signaturefd LLC now owns 2,365 shares of the company’s stock valued at $47,000 after buying an additional 1,230 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of Albertsons Companies by 2,948.4% during the 2nd quarter. Blue Trust Inc. now owns 2,896 shares of the company’s stock valued at $62,000 after acquiring an additional 2,801 shares in the last quarter. UniSuper Management Pty Ltd boosted its position in Albertsons Companies by 133.3% during the 1st quarter. UniSuper Management Pty Ltd now owns 4,900 shares of the company’s stock worth $105,000 after purchasing an additional 2,800 shares during the period. Finally, Intact Investment Management Inc. acquired a new stake in Albertsons Companies in the 2nd quarter valued at $126,000. 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.