Albertsons Companies (NYSE:ACI) Rating Increased to Buy at Roth Capital

Roth Capital upgraded shares of Albertsons Companies (NYSE:ACI) from a neutral rating to a buy rating in a report issued on Tuesday, Zacks.com reports.

Other equities research analysts have also issued reports about the company. Roth Mkm upgraded Albertsons Companies from a neutral rating to a buy rating and set a $24.00 target price for the company in a report on Tuesday. Tigress Financial restated a buy rating and issued a $27.00 target price on shares of Albertsons Companies in a report on Friday, January 12th. Telsey Advisory Group restated a market perform rating and issued a $27.25 target price on shares of Albertsons Companies in a report on Tuesday. Royal Bank of Canada reduced their target price on Albertsons Companies from $23.00 to $22.00 and set an outperform rating for the company in a report on Tuesday. Finally, Evercore ISI cut their price target on Albertsons Companies from $23.00 to $22.00 and set an in-line rating for the company in a report on Tuesday, April 16th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $24.45.

Albertsons Companies Stock Up 0.4 %

ACI opened at $20.32 on Tuesday. The business has a 50 day moving average price of $20.88 and a 200 day moving average price of $21.62. Albertsons Companies has a twelve month low of $19.88 and a twelve month high of $23.88. The company has a debt-to-equity ratio of 3.09, a quick ratio of 0.19 and a current ratio of 0.85. The firm has a market cap of $11.71 billion, a P/E ratio of 8.68, a price-to-earnings-growth ratio of 0.96 and a beta of 0.50.

Albertsons Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, April 26th will be issued a dividend of $0.12 per share. The ex-dividend date is Thursday, April 25th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.36%. Albertsons Companies’s dividend payout ratio (DPR) is presently 20.51%.

Institutional Inflows and Outflows

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

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.