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

Albertsons Companies (NYSE:ACI) was upgraded by equities research analysts at Roth Capital from a “neutral” rating to a “buy” rating in a report issued on Tuesday, Zacks.com reports.

Several other equities analysts have also commented on ACI. Royal Bank of Canada reduced their price objective on Albertsons Companies from $23.00 to $22.00 and set an “outperform” rating on the stock in a research report on Tuesday. Roth Mkm upgraded Albertsons Companies from a “neutral” rating to a “buy” rating and set a $24.00 price target on the stock in a research report on Tuesday. Tigress Financial restated a “buy” rating and set a $27.00 price target on shares of Albertsons Companies in a research report on Friday, January 12th. Telsey Advisory Group restated a “market perform” rating and set a $27.25 price target on shares of Albertsons Companies in a research report on Tuesday. Finally, Evercore ISI reduced their price target on Albertsons Companies from $23.00 to $22.00 and set an “in-line” rating on the stock in a research report on Tuesday, April 16th. Two 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 presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.45.

Albertsons Companies Price Performance

Shares of Albertsons Companies stock opened at $20.32 on Tuesday. The company has a current ratio of 0.85, a quick ratio of 0.19 and a debt-to-equity ratio of 3.09. The firm has a market capitalization of $11.71 billion, a PE ratio of 8.68, a price-to-earnings-growth ratio of 0.96 and a beta of 0.50. The business’s 50-day moving average price is $20.88 and its 200-day moving average price is $21.62. Albertsons Companies has a 12 month low of $19.88 and a 12 month high of $23.88.

Institutional Investors Weigh In On Albertsons Companies

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