Safeway Given “Hold” Rating at Deutsche Bank (SWY)

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Deutsche Bank reissued their hold rating on shares of Safeway (NYSE:SWY) in a research report sent to investors on Thursday morning, AnalystRatings.Net reports. The firm currently has a $36.00 price target on the stock, down from their previous price target of $40.00.

A number of other firms have also recently commented on SWY. Analysts at Telsey Advisory Group cut their price target on shares of Safeway from $40.00 to $36.00 in a research note on Thursday. They now have a not rated rating on the stock. Separately, analysts at Zacks reiterated a neutral rating on shares of Safeway in a research note on Tuesday. They now have a $40.00 price target on the stock. Finally, analysts at Jefferies Group cut their price target on shares of Safeway from $40.00 to $36.00 in a research note on Tuesday. They now have a hold rating on the stock. Fourteen research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of Hold and an average price target of $36.40.

Shares of Safeway (NYSE:SWY) traded up 0.03% during mid-day trading on Thursday, hitting $34.12. 3,097,905 shares of the company’s stock traded hands. Safeway has a 52-week low of $19.9284 and a 52-week high of $36.034. The stock’s 50-day moving average is $34.0 and its 200-day moving average is $30.79. The company has a market cap of $7.775 billion and a P/E ratio of 2.51. Safeway also saw a large decrease in short interest during the month of January. As of March 31st, there was short interest totalling 12,582,921 shares, a decrease of 20.8% from the March 14th total of 15,890,345 shares. Based on an average daily volume of 6,617,224 shares, the short-interest ratio is presently 1.9 days. Currently, 5.5% of the company’s stock are short sold.

Safeway (NYSE:SWY) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $0.53 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.48 by $0.05. The company had revenue of $11.30 billion for the quarter, compared to the consensus estimate of $11.48 billion. Analysts expect that Safeway will post $1.24 EPS for the current fiscal year.

Safeway Inc (NYSE:SWY) is a food and drug retailer in North America.

To view Deutsche Bank’s full report, visit Deutsche Bank’s official website.

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