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Albertsons (#ACI) is an American grocery company founded and headquartered in Boise, Idaho. The company has 2,252 stores in 34 states with over 270,000 employees.
This morning the company reported their Q3 earnings and topped profit forecasts and gave positive guidance into 2021. Albertsons said it expects full-year earnings of $4.5 billion after increasing revenues by 9.2%.
In June of 2020 #Albertsons stock IPOd for $16. Currently shares are trading at $17.05 and at one point last year Mad Money host Jim Cramer said that Albertsons stock under $25 is a buy. Is Albertsons stock now a buy after their earnings beat?