Albertsons Companies, Inc. (NYSE:ACI) Receives $23.50 Average Price Target from Brokerages

Albertsons Companies, Inc. (NYSE:ACI) has received a consensus rating of “Moderate Buy” from the fifteen analysts that are presently covering the stock, MarketBeat reports. Six research analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $23.50.

A number of equities analysts have commented on the stock. Citigroup initiated coverage on shares of Albertsons Companies in a research note on Friday, January 24th. They issued a “buy” rating and a $26.00 price target for the company. Telsey Advisory Group restated an “outperform” rating and set a $26.00 price target on shares of Albertsons Companies in a research report on Tuesday, March 11th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $26.00 price target on shares of Albertsons Companies in a research note on Tuesday, February 4th. UBS Group reduced their price objective on Albertsons Companies from $27.00 to $24.00 and set a “neutral” rating on the stock in a research report on Tuesday, December 17th. Finally, Morgan Stanley dropped their target price on Albertsons Companies from $24.00 to $19.00 and set an “equal weight” rating for the company in a research report on Wednesday, December 11th.

Institutional Investors Weigh In On Albertsons Companies

Large investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP bought a new position in shares of Albertsons Companies during the fourth quarter valued at about $6,962,000. Wealth Enhancement Advisory Services LLC raised its position in Albertsons Companies by 8.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 82,386 shares of the company’s stock valued at $1,618,000 after purchasing an additional 6,211 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Albertsons Companies in the 4th quarter worth approximately $1,882,000. Mackenzie Financial Corp bought a new stake in shares of Albertsons Companies in the 4th quarter worth approximately $518,000. Finally, Public Employees Retirement System of Ohio purchased a new position in shares of Albertsons Companies during the fourth quarter valued at approximately $3,581,000. Institutional investors own 71.35% of the company’s stock.

Albertsons Companies Stock Performance

NYSE ACI opened at $21.95 on Tuesday. The company’s 50 day simple moving average is $20.99 and its two-hundred day simple moving average is $19.77. The stock has a market capitalization of $12.71 billion, a PE ratio of 12.33, a P/E/G ratio of 1.92 and a beta of 0.47. The company has a debt-to-equity ratio of 2.31, a current ratio of 0.93 and a quick ratio of 0.21. Albertsons Companies has a 1 year low of $17.00 and a 1 year high of $23.20.

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

Albertsons Companies Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Friday, January 24th were issued a dividend of $0.15 per share. This is a positive change from Albertsons Companies’s previous quarterly dividend of $0.12. This represents a $0.60 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date of this dividend was Friday, January 24th. Albertsons Companies’s dividend payout ratio is currently 33.71%.

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.