Ambev (NYSE:ABEV) Stock Rating Cut to Hold at Wall Street Zen

Wall Street Zen downgraded shares of Ambev (NYSE:ABEV – Free Report) from a buy rating to a hold rating in a report published on Sunday,Wall Street Zen reports.

Several other equities analysts also recently commented on ABEV. Bank of America downgraded shares of Ambev from a “neutral” rating to an “underperform” rating and set a $3.30 price objective for the company. in a research note on Wednesday, October 7th. Scotiabank cut shares of Ambev from a “sector outperform” rating to a “sector perform” rating in a research note on Wednesday, July 15th. UBS Group set a $2.85 price target on shares of Ambev in a report on Tuesday, August 11th. Weiss Ratings downgraded shares of Ambev from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, October 26th. Finally, Barclays dropped their price target on Ambev from $3.50 to $3.00 and set an “equal weight” rating for the company in a research note on Friday, October 30th. Four research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average target price of $3.01.

View Our Latest Stock Report on Ambev

Ambev Stock Performance

Ambev stock opened at $2.79 on Friday. The company has a quick ratio of 0.81, a current ratio of 1.06 and a debt-to-equity ratio of 0.02. The stock has a market cap of $43.90 billion, a PE ratio of 14.66 and a beta of 0.58. Ambev has a 12-month low of $2.28 and a 12-month high of $3.45. The business’s 50-day moving average price is $3.01 and its two-hundred day moving average price is $3.03.

Ambev (NYSE:ABEV – Get Free Report) last posted its earnings results on Thursday, October 29th. The company reported $0.05 EPS for the quarter, hitting analysts’ consensus estimates of $0.05. Ambev had a net margin of 17.80% and a return on equity of 18.13%. The firm had revenue of $4.17 billion during the quarter, compared to analysts’ expectations of $4.21 billion. As a group, analysts expect that Ambev will post 0.21 earnings per share for the current fiscal year.

Insider Transactions at Ambev

In other news, insider Carla Smith De Vasconcellos Crippa Prado sold 60,757 shares of the firm’s stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $3.09, for a total transaction of $187,739.13. Following the completion of the transaction, the insider owned 80,707 shares of the company’s stock, valued at approximately $249,384.63. This trade represents a 42.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Formuepleje A S bought a new stake in Ambev in the third quarter valued at $23,610,000. DJE Kapital AG acquired a new position in shares of Ambev during the first quarter valued at about $14,778,000. Russell Investments Group Ltd. boosted its position in shares of Ambev by 80.1% during the 3rd quarter. Russell Investments Group Ltd. now owns 7,544,941 shares of the company’s stock worth $22,031,000 after purchasing an additional 3,356,565 shares in the last quarter. First Eagle Investment Management LLC boosted its position in shares of Ambev by 0.7% during the 2nd quarter. First Eagle Investment Management LLC now owns 349,323,217 shares of the company’s stock worth $1,096,875,000 after purchasing an additional 2,338,660 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its position in shares of Ambev by 6.5% during the 1st quarter. Renaissance Technologies LLC now owns 27,354,300 shares of the company’s stock worth $79,875,000 after purchasing an additional 1,674,900 shares in the last quarter. 8.13% of the stock is owned by institutional investors.

Ambev Company Profile

(Get Free Report)

Ambev SA is a beverage company headquartered in São Paulo, Brazil. It produces, distributes and sells beer and other beverages, including soft drinks, water and energy drinks. Its beer portfolio includes brands such as Brahma, Antarctica and Skol, as well as international brands marketed under license or through distribution agreements.

The company serves customers across Brazil and other markets in Latin America, including countries in South America, Central America and the Caribbean.

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Analyst Recommendations for Ambev (NYSE:ABEV)

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