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Albertsons Companies (ACI) Gets a Buy from Wells Fargo

Tipranks - Tipranks - Tue Jun 30, 5:24AM CDT

In a report released today, Edward Kelly from Wells Fargo maintained a Buy rating on Albertsons Companies, with a price target of $18.00.

End of Quarter Sale - 70% Off

Kelly covers the Consumer Defensive sector, focusing on stocks such as Costco, Ollie’s Bargain Outlet Holding, and Target. According to TipRanks, Kelly has an average return of 10.6% and a 65.22% success rate on recommended stocks.

Currently, the analyst consensus on Albertsons Companies is a Moderate Buy with an average price target of $20.45.

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Based on Albertsons Companies’ latest earnings release for the quarter ending February 28, the company reported a quarterly revenue of $20.25 billion and a GAAP net loss of $480.8 million. In comparison, last year the company earned a revenue of $18.8 billion and had a net profit of $171.8 million

Based on the recent corporate insider activity of 34 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. Last month, Robert Bruce Larson, the SVP & CAO of ACI sold 44,363.00 shares for a total of $710,725.54.

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