Albertsons Companies Inc’s (NYSE:ACI) Quiet Period To End on August 5th

Albertsons Companies’ (NYSE:ACI) quiet period is set to expire on Wednesday, August 5th. Albertsons Companies had issued 50,000,000 shares in its initial public offering on June 26th. The total size of the offering was $800,000,000 based on an initial share price of $16.00. During Albertsons Companies’ quiet period, underwriters and any insiders that worked on the IPO are prevented from issuing any research reports or earnings estimates for the company because of SEC regulations. Following the end of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.

A number of equities analysts recently issued reports on the company. Credit Suisse Group assumed coverage on Albertsons Companies in a research note on Tuesday, July 21st. They issued an “outperform” rating and a $18.00 target price for the company. Goldman Sachs Group started coverage on Albertsons Companies in a research note on Tuesday, July 21st. They issued a “buy” rating and a $22.00 target price for the company. Telsey Advisory Group started coverage on Albertsons Companies in a research note on Tuesday, July 21st. They set an “outperform” rating and a $26.00 price objective for the company. Evercore ISI started coverage on Albertsons Companies in a research note on Tuesday, July 21st. They set an “outperform” rating for the company. Finally, Bank of America started coverage on Albertsons Companies in a research note on Tuesday, July 21st. They set a “buy” rating and a $22.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $20.44.

ACI stock opened at $14.86 on Friday. Albertsons Companies has a 12-month low of $13.72 and a 12-month high of $16.50.

Albertsons Companies (NYSE:ACI) last posted its quarterly earnings data on Monday, July 27th. The company reported $1.35 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.32 by $0.03. The firm had revenue of $22.75 billion during the quarter, compared to analyst estimates of $22.62 billion. The company’s revenue for the quarter was up 21.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Albertsons Companies will post 2.18 EPS for the current year.

In related news, insider Realty Corp Kimco sold 4,675,726 shares of Albertsons Companies stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $15.27, for a total value of $71,398,336.02. Insiders own 1.70% of the company’s stock.

A hedge fund recently bought a new stake in Albertsons Companies stock. Three Peaks Capital Management LLC bought a new position in shares of Albertsons Companies Inc (NYSE:ACI) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 81,000 shares of the company’s stock, valued at approximately $1,277,000.

About Albertsons Companies

Albertsons Companies, Inc, through its subsidiaries, operates as a food and drug retailer in the United States. Its food and drug retail stores offer grocery products, general merchandise, health and beauty care products, pharmacy, fuel, and other items and services. As of February 29, 2020, the company operated 2,252 stores under various banners, including Albertsons, Safeway, Vons, Jewel-Osco, Shaw's, Acme, Tom Thumb, Randalls, United Supermarkets, Market Street, Pavilions, Star Market, Carrs, and Haggen; and 1,726 pharmacies, 1,290 in-store branded coffee shops, and 402 adjacent fuel centers.

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