Tigress Financial Forecasts Strong Price Appreciation for Albertsons Companies (NYSE:ACI) Stock

Albertsons Companies (NYSE:ACI) had its target price lifted by research analysts at Tigress Financial from $28.00 to $29.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Tigress Financial’s price target suggests a potential upside of 49.98% from the stock’s current price.

A number of other research firms have also recently commented on ACI. Wall Street Zen cut Albertsons Companies from a “buy” rating to a “hold” rating in a research note on Monday, September 15th. Roth Capital reissued a “buy” rating and issued a $24.00 target price (up from $23.00) on shares of Albertsons Companies in a research note on Wednesday, July 16th. Weiss Ratings reissued a “hold (c)” rating on shares of Albertsons Companies in a research note on Wednesday, October 8th. Wells Fargo & Company cut their target price on Albertsons Companies from $27.00 to $23.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 7th. Finally, Zacks Research raised Albertsons Companies from a “strong sell” rating to a “hold” rating in a research report on Monday, August 25th. Ten equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Albertsons Companies has an average rating of “Moderate Buy” and an average target price of $23.50.

Albertsons Companies Trading Down 1.6%

NYSE ACI opened at $19.34 on Monday. Albertsons Companies has a 12 month low of $16.70 and a 12 month high of $23.20. The stock has a market cap of $10.62 billion, a P/E ratio of 11.44, a P/E/G ratio of 3.22 and a beta of 0.49. The stock’s fifty day moving average price is $18.56 and its 200-day moving average price is $20.37. The company has a current ratio of 0.81, a quick ratio of 0.20 and a debt-to-equity ratio of 2.25.

Insider Buying and Selling at Albertsons Companies

In other Albertsons Companies news, EVP Michael T. Theilmann sold 100,000 shares of the firm’s stock in a transaction dated Thursday, October 16th. The stock was sold at an average price of $19.35, for a total value of $1,935,000.00. Following the transaction, the executive vice president directly owned 338,429 shares of the company’s stock, valued at approximately $6,548,601.15. This trade represents a 22.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Anuj Dhanda sold 230,000 shares of the firm’s stock in a transaction dated Thursday, October 16th. The stock was sold at an average price of $19.25, for a total value of $4,427,500.00. Following the completion of the transaction, the insider directly owned 300,577 shares in the company, valued at $5,786,107.25. The trade was a 43.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.35% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Albertsons Companies by 2.9% in the first quarter. Vanguard Group Inc. now owns 37,374,669 shares of the company’s stock worth $821,869,000 after purchasing an additional 1,064,547 shares during the last quarter. Norges Bank purchased a new position in Albertsons Companies in the second quarter worth about $320,613,000. LSV Asset Management boosted its position in Albertsons Companies by 34.4% in the second quarter. LSV Asset Management now owns 10,578,407 shares of the company’s stock worth $227,542,000 after purchasing an additional 2,705,368 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in Albertsons Companies by 7.2% in the second quarter. Massachusetts Financial Services Co. MA now owns 7,977,542 shares of the company’s stock worth $171,597,000 after purchasing an additional 539,250 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in Albertsons Companies by 1.6% in the second quarter. Geode Capital Management LLC now owns 7,901,015 shares of the company’s stock worth $169,510,000 after purchasing an additional 124,824 shares during the last quarter. 71.35% of the stock is owned by hedge funds and other institutional investors.

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.