Evercore ISI Forecasts Strong Price Appreciation for Albertsons Companies (NYSE:ACI) Stock

Albertsons Companies (NYSE:ACI) had its target price lifted by research analysts at Evercore ISI from $21.00 to $22.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has an “in-line” rating on the stock. Evercore ISI’s target price would indicate a potential upside of 5.34% from the company’s previous close.

A number of other equities analysts have also recently issued reports on the company. Telsey Advisory Group restated an “outperform” rating and set a $26.00 price objective on shares of Albertsons Companies in a report on Tuesday. Bank of America initiated coverage on Albertsons Companies in a report on Friday, December 13th. They set a “neutral” rating and a $22.00 price objective for the company. Morgan Stanley dropped their price objective on Albertsons Companies from $24.00 to $19.00 and set an “equal weight” rating for the company in a report on Wednesday, December 11th. UBS Group dropped their price objective on Albertsons Companies from $27.00 to $24.00 and set a “neutral” rating for the company in a report on Tuesday, December 17th. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $26.00 target price on shares of Albertsons Companies in a report on Tuesday, February 4th. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $23.43.

Albertsons Companies Stock Performance

NYSE ACI opened at $20.89 on Tuesday. The company has a market cap of $12.10 billion, a P/E ratio of 11.73, a P/E/G ratio of 1.92 and a beta of 0.50. The company has a debt-to-equity ratio of 2.31, a quick ratio of 0.21 and a current ratio of 0.93. The business’s 50 day moving average price is $20.40 and its 200-day moving average price is $19.49. Albertsons Companies has a fifty-two week low of $17.00 and a fifty-two week high of $21.67.

Albertsons Companies (NYSE:ACI) last released its earnings results on Wednesday, January 8th. The company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.07. Albertsons Companies had a return on equity of 44.70% and a net margin of 1.30%. The firm had revenue of $18.77 billion for the quarter, compared to the consensus estimate of $18.82 billion. During the same quarter in the previous year, the company posted $0.79 EPS. The company’s revenue for the quarter was up 1.2% compared to the same quarter last year. Sell-side analysts predict that Albertsons Companies will post 2.14 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Eagle Bay Advisors LLC increased its holdings in shares of Albertsons Companies by 108.4% in the fourth quarter. Eagle Bay Advisors LLC now owns 1,346 shares of the company’s stock valued at $26,000 after purchasing an additional 700 shares during the period. Capital Advisors Ltd. LLC increased its holdings in shares of Albertsons Companies by 225.1% in the fourth quarter. Capital Advisors Ltd. LLC now owns 1,385 shares of the company’s stock valued at $27,000 after purchasing an additional 959 shares during the period. EverSource Wealth Advisors LLC increased its holdings in shares of Albertsons Companies by 316.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,787 shares of the company’s stock valued at $35,000 after purchasing an additional 1,358 shares during the period. WealthCollab LLC grew its holdings in Albertsons Companies by 446.0% during the fourth quarter. WealthCollab LLC now owns 1,780 shares of the company’s stock worth $35,000 after acquiring an additional 1,454 shares during the period. Finally, Ossiam acquired a new stake in Albertsons Companies during the fourth quarter worth about $93,000. 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.