Analysts at Citigroup, Inc. (NYSE: C) have released a report reviewing the first-quarter of FY10 at Alberto-Culver Company (NYSE: ACV). The company outlined the components of the $384 million acquisition cost of Simple Business in the first-quarter.
The company reported free cash flow of $23 million in the first-quarter. The company had reported $31 million in negative cash flow for the same period last year. According to analysts, the improvement can be attributed to an increase in operating cash flow, and lower capital expenditure.
According to analysts’ calculation, the company’s working capital decreased to $154 million in the first quarter, compared to $180 million for the same period last year.
The company also repurchased shares worth $16 million in the quarter. The company has authorization to buyback another 5.2 million shares.
Analysts at Citigroup, Inc. have maintained a Hold (2M) rating for Alberto-Culver Company, with a price target of $31.
Citigroup Inc. (NYSE:C) is said to be in talks to offload up to $3 billion in car loans as it tries to remove billions of dollars of troubled assets from its balance sheet. To entice buyers, Citigroup is also offering some deal financing, next thing you know they'll be selling the Family Truckster versus the Super Sports Wagon.
