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

Albertsons Companies (NYSE:ACI) had its target price dropped by equities researchers at Royal Bank of Canada from $23.00 to $22.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank of Canada’s price target indicates a potential upside of 8.70% from the company’s current price.

A number of other equities research analysts also recently issued reports on ACI. Evercore ISI reduced their price objective on shares of Albertsons Companies from $23.00 to $22.00 and set an “in-line” rating for the company in a research report on Tuesday, April 16th. Roth Mkm upped their target price on Albertsons Companies from $23.00 to $24.00 and gave the company a “neutral” rating in a report on Wednesday, January 10th. Tigress Financial reiterated a “buy” rating and set a $27.00 price target on shares of Albertsons Companies in a report on Friday, January 12th. Finally, Telsey Advisory Group restated a “market perform” rating and issued a $27.25 price objective on shares of Albertsons Companies in a research note on Wednesday, April 17th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $24.45.

Albertsons Companies Stock Performance

NYSE ACI opened at $20.24 on Tuesday. The company has a fifty day moving average price of $20.90 and a 200-day moving average price of $21.64. The firm has a market cap of $11.66 billion, a price-to-earnings ratio of 8.65, a PEG ratio of 0.96 and a beta of 0.50. The company has a debt-to-equity ratio of 3.09, a current ratio of 0.85 and a quick ratio of 0.19. Albertsons Companies has a 1 year low of $19.88 and a 1 year high of $23.88.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ACI. IFM Investors Pty Ltd increased its holdings in Albertsons Companies by 19.2% in the 1st quarter. IFM Investors Pty Ltd now owns 69,571 shares of the company’s stock worth $1,492,000 after acquiring an additional 11,224 shares during the last quarter. Denali Advisors LLC lifted its stake in shares of Albertsons Companies by 540,666.7% during the 1st quarter. Denali Advisors LLC now owns 32,446 shares of the company’s stock valued at $696,000 after buying an additional 32,440 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of Albertsons Companies by 0.3% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 691,123 shares of the company’s stock valued at $14,818,000 after buying an additional 1,936 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in Albertsons Companies by 5.2% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 43,304 shares of the company’s stock worth $928,000 after buying an additional 2,144 shares during the period. Finally, TrueMark Investments LLC purchased a new stake in Albertsons Companies during the 1st quarter worth about $1,147,000. 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.