Royal Bank of Canada Lowers Albertsons Companies (NYSE:ACI) Price Target to $22.00

Albertsons Companies (NYSE:ACI) had its price objective decreased by investment analysts at Royal Bank of Canada from $23.00 to $22.00 in a report released on Tuesday, MarketBeat reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank of Canada’s target price would suggest a potential upside of 9.70% from the company’s previous close.

ACI has been the topic of several other research reports. Tigress Financial restated a “buy” rating and set a $27.00 price target on shares of Albertsons Companies in a research note on Friday, January 12th. Telsey Advisory Group reiterated a “market perform” rating and issued a $27.25 target price on shares of Albertsons Companies in a research note on Wednesday, April 17th. Evercore ISI lowered their target price on shares of Albertsons Companies from $23.00 to $22.00 and set an “in-line” rating on the stock in a research note on Tuesday, April 16th. Finally, Roth Mkm raised their target price on shares of Albertsons Companies from $23.00 to $24.00 and gave the company a “neutral” rating in a research note on Wednesday, January 10th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.45.

Albertsons Companies Stock Performance

Shares of ACI opened at $20.06 on Tuesday. The company’s fifty day moving average is $20.88 and its 200-day moving average is $21.62. Albertsons Companies has a 12 month low of $19.84 and a 12 month high of $23.88. The firm has a market cap of $11.55 billion, a price-to-earnings ratio of 8.99, a price-to-earnings-growth ratio of 0.95 and a beta of 0.50. The company has a quick ratio of 0.19, a current ratio of 0.84 and a debt-to-equity ratio of 2.83.

Institutional Trading of Albertsons Companies

A number of hedge funds have recently bought and sold shares of the stock. National Bank of Canada FI lifted its holdings in shares of Albertsons Companies by 33.0% during the 3rd quarter. National Bank of Canada FI now owns 5,494 shares of the company’s stock worth $124,000 after acquiring an additional 1,362 shares during the period. DnB Asset Management AS lifted its holdings in Albertsons Companies by 15.7% during the 3rd quarter. DnB Asset Management AS now owns 43,192 shares of the company’s stock valued at $983,000 after purchasing an additional 5,871 shares during the last quarter. SG Americas Securities LLC bought a new position in Albertsons Companies during the 3rd quarter valued at about $364,000. Asset Management One Co. Ltd. lifted its holdings in Albertsons Companies by 0.5% during the 3rd quarter. Asset Management One Co. Ltd. now owns 107,919 shares of the company’s stock valued at $2,455,000 after purchasing an additional 519 shares during the last quarter. Finally, Ballentine Partners LLC bought a new position in Albertsons Companies during the 3rd quarter valued at about $205,000. 71.35% of the stock is owned by institutional investors.

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.