Morgan Stanley Raises Albertsons Companies (NYSE:ACI) Price Target to $26.00

Albertsons Companies (NYSE:ACI) had its target price upped by Morgan Stanley from $24.00 to $26.00 in a research report sent to investors on Wednesday morning, Analyst Ratings Network reports. They currently have an underweight rating on the stock.

A number of other equities analysts have also recently weighed in on the stock. Oppenheimer cut shares of Albertsons Companies from an outperform rating to a market perform rating and reduced their price objective for the stock from $34.09 to $13.90 in a research report on Monday, October 11th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Albertsons Companies from $36.00 to $38.00 and gave the stock a buy rating in a report on Tuesday, October 19th. Zacks Investment Research raised shares of Albertsons Companies from a hold rating to a buy rating and set a $35.00 target price for the company in a report on Friday, January 7th. BMO Capital Markets lowered shares of Albertsons Companies from a market perform rating to an underperform rating and upped their target price for the stock from $22.00 to $26.00 in a report on Tuesday, October 5th. Finally, Barclays upped their target price on shares of Albertsons Companies from $27.00 to $30.00 and gave the stock an equal weight rating in a report on Tuesday, October 19th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Albertsons Companies has a consensus rating of Hold and a consensus price target of $28.81.

NYSE:ACI opened at $30.94 on Wednesday. The company has a debt-to-equity ratio of 3.43, a quick ratio of 0.54 and a current ratio of 1.12. The company has a fifty day moving average of $32.35 and a two-hundred day moving average of $28.97. The stock has a market capitalization of $14.45 billion, a PE ratio of 18.53, a P/E/G ratio of 1.44 and a beta of -0.20. Albertsons Companies has a fifty-two week low of $15.97 and a fifty-two week high of $37.85.

Albertsons Companies (NYSE:ACI) last posted its quarterly earnings data on Tuesday, January 11th. The company reported $0.79 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.20. The company had revenue of $16.73 billion during the quarter, compared to analysts’ expectations of $16.04 billion. Albertsons Companies had a net margin of 1.45% and a return on equity of 92.76%. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.63 earnings per share. Research analysts forecast that Albertsons Companies will post 2.69 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 10th. Shareholders of record on Wednesday, January 26th will be given a $0.12 dividend. The ex-dividend date of this dividend is Tuesday, January 25th. This represents a $0.48 dividend on an annualized basis and a yield of 1.55%. Albertsons Companies’s payout ratio is currently 28.74%.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. State of Alaska Department of Revenue acquired a new position in Albertsons Companies in the fourth quarter valued at about $2,395,000. Symmetry Partners LLC acquired a new position in Albertsons Companies in the fourth quarter valued at about $636,000. UBS Asset Management Americas Inc. acquired a new position in Albertsons Companies in the third quarter valued at about $4,755,000. CLARET ASSET MANAGEMENT Corp acquired a new stake in shares of Albertsons Companies during the third quarter worth about $229,000. Finally, Balyasny Asset Management LLC lifted its position in shares of Albertsons Companies by 9.8% during the third quarter. Balyasny Asset Management LLC now owns 75,136 shares of the company’s stock worth $2,339,000 after purchasing an additional 6,683 shares in the last quarter. 58.05% of the stock is currently owned by institutional investors.

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. As of February 27, 2021, it operated 2,277 stores under various banners, including Albertsons, Safeway, Vons, Pavilions, Randalls, Tom Thumb, Carrs, Jewel-Osco, Acme, Shaw's, Star Market, United Supermarkets, Market Street, Haggen, Kings Food Markets, and Balducci's Food Lovers Market; and 1,727 pharmacies, 1,313 in-store branded coffee shops, 400 adjacent fuel centers, 22 distribution centers, and 20 manufacturing facilities, as well as various digital platforms.

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Analyst Recommendations for Albertsons Companies (NYSE:ACI)

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