Albertsons Companies (NYSE:ACI) Sets New 1-Year Low – What’s Next?

Albertsons Companies, Inc. (NYSE:ACI) hit a new 52-week low during trading on Tuesday . The company traded as low as $17.00 and last traded at $18.51, with a volume of 14968868 shares changing hands. The stock had previously closed at $18.94.

Analysts Set New Price Targets

A number of analysts have recently weighed in on ACI shares. BMO Capital Markets cut their target price on Albertsons Companies from $21.00 to $19.00 and set a “market perform” rating for the company in a research report on Wednesday, October 16th. Melius raised Albertsons Companies from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a report on Monday, October 21st. Evercore ISI increased their price target on Albertsons Companies from $18.00 to $19.00 and gave the company an “in-line” rating in a research note on Tuesday, December 3rd. Melius Research raised Albertsons Companies from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a research note on Monday, October 21st. Finally, Tigress Financial reaffirmed a “buy” rating and set a $27.00 target price on shares of Albertsons Companies in a research note on Monday, October 21st. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $23.25.

Albertsons Companies Stock Performance

The company has a debt-to-equity ratio of 2.58, a current ratio of 0.90 and a quick ratio of 0.22. The company has a 50 day simple moving average of $18.85 and a 200-day simple moving average of $19.42. The stock has a market cap of $10.72 billion, a P/E ratio of 11.08, a price-to-earnings-growth ratio of 1.12 and a beta of 0.51.

Albertsons Companies (NYSE:ACI) last announced its quarterly earnings results on Tuesday, October 15th. The company reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.03. Albertsons Companies had a return on equity of 49.50% and a net margin of 1.25%. The company had revenue of $18.55 billion for the quarter, compared to the consensus estimate of $18.47 billion. During the same quarter in the previous year, the business earned $0.60 EPS. Albertsons Companies’s revenue was up 1.4% compared to the same quarter last year. On average, equities analysts expect that Albertsons Companies, Inc. will post 2.13 earnings per share for the current fiscal year.

Albertsons Companies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Monday, October 28th were paid a $0.12 dividend. The ex-dividend date was Monday, October 28th. This represents a $0.48 annualized dividend and a dividend yield of 2.59%. Albertsons Companies’s payout ratio is currently 28.07%.

Hedge Funds Weigh In On Albertsons Companies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Comerica Bank lifted its position in Albertsons Companies by 14.9% during the first quarter. Comerica Bank now owns 36,325 shares of the company’s stock valued at $779,000 after purchasing an additional 4,716 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in Albertsons Companies by 7.8% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 46,670 shares of the company’s stock worth $922,000 after acquiring an additional 3,366 shares in the last quarter. Swedbank AB grew its position in Albertsons Companies by 166.2% in the second quarter. Swedbank AB now owns 214,192 shares of the company’s stock worth $4,230,000 after acquiring an additional 133,715 shares in the last quarter. Blue Trust Inc. boosted its position in shares of Albertsons Companies by 2,948.4% during the second quarter. Blue Trust Inc. now owns 2,896 shares of the company’s stock valued at $62,000 after buying an additional 2,801 shares during the period. Finally, Continuum Advisory LLC boosted its position in shares of Albertsons Companies by 76.4% during the second quarter. Continuum Advisory LLC now owns 20,261 shares of the company’s stock valued at $400,000 after buying an additional 8,775 shares during the period. 71.35% of the stock is 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. It also manufactures and processes food products for sale in stores.