Oppenheimer analyst Rupesh Parikh initiated coverage with a Buy rating on Albertsons Companies (ACI – Research Report) today and set a price target of $18.00. The company’s shares closed last Friday at $16.11, close to its 52-week high of $16.50.
According to TipRanks.com, Parikh is a 5-star analyst with an average return of 14.3% and a 62.9% success rate. Parikh covers the Consumer Goods sector, focusing on stocks such as Bj’s Wholesale Club Holdings, The Estée Lauder Companies, and Church & Dwight.
Currently, the analyst consensus on Albertsons Companies is a Strong Buy with an average price target of $19.57, implying a 21.5% upside from current levels. In a report issued on July 21, Goldman Sachs also initiated coverage with a Buy rating on the stock with a $22.00 price target.
The company has a one-year high of $16.50 and a one-year low of $13.72. Currently, Albertsons Companies has an average volume of 5.25M.
Based on the recent corporate insider activity of 14 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ACI in relation to earlier this year.
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Albertsons Companies Inc is a Delaware corporation that was incorporated on June 23, 2015. The Company is a food and drug retailer in the United States, with local presence and national scale. It operates approximately 2,205 stores across 33 states under 18 banners, including Albertsons, Safeway, Vons, Jewel-Osco, Shaw’s, Acme, Tom Thumb, Randalls, United Supermarkets, Pavilions, Star Market and Carrs. It provides its customers with a service-oriented shopping experience, including convenient and value-added services through 1,698 pharmacies and 378 adjacent fuel centers. Its stores offer grocery products, general merchandise, health and beauty care products, pharmacy, fuel and other items and services. Various agricultural commodities constitute the principal raw materials used by the company in the manufacture of its food products.