Ambev (NYSE:ABEV) Hits New 52-Week Low at $2.24

Ambev S.A. (NYSE:ABEV) shares reached a new 52-week low during trading on Thursday . The company traded as low as $2.24 and last traded at $2.27, with a volume of 672608 shares changing hands. The stock had previously closed at $2.26.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ABEV. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of Ambev in a research note on Friday, March 1st. Barclays lowered Ambev from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $3.50 to $3.00 in a research note on Monday, March 4th. Finally, StockNews.com began coverage on Ambev in a research note on Friday, January 26th. They set a “buy” rating on the stock. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $3.20.

Ambev Trading Up 0.7 %

The business has a fifty day moving average price of $2.49 and a 200 day moving average price of $2.63. The company has a market capitalization of $36.15 billion, a PE ratio of 12.75, a P/E/G ratio of 2.28 and a beta of 1.08. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.66 and a current ratio of 0.89.

Ambev (NYSE:ABEV) last announced its earnings results on Thursday, February 29th. The company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.05 by $0.01. The business had revenue of $4.04 billion for the quarter. Ambev had a return on equity of 17.60% and a net margin of 18.19%. Analysts expect that Ambev S.A. will post 0.19 EPS for the current fiscal year.

Institutional Investors Weigh In On Ambev

Several hedge funds have recently modified their holdings of the stock. LPL Financial LLC raised its holdings in shares of Ambev by 8.9% during the 2nd quarter. LPL Financial LLC now owns 42,202 shares of the company’s stock valued at $134,000 after buying an additional 3,464 shares during the period. 1900 Wealth Management LLC raised its holdings in shares of Ambev by 8.4% during the 3rd quarter. 1900 Wealth Management LLC now owns 50,942 shares of the company’s stock valued at $131,000 after buying an additional 3,953 shares during the period. Baron Wealth Management LLC raised its holdings in shares of Ambev by 11.5% during the 4th quarter. Baron Wealth Management LLC now owns 38,362 shares of the company’s stock valued at $107,000 after buying an additional 3,963 shares during the period. Peapack Gladstone Financial Corp raised its holdings in shares of Ambev by 4.9% during the 1st quarter. Peapack Gladstone Financial Corp now owns 85,567 shares of the company’s stock valued at $241,000 after buying an additional 3,974 shares during the period. Finally, Fifth Third Bancorp raised its holdings in shares of Ambev by 0.8% during the 3rd quarter. Fifth Third Bancorp now owns 502,445 shares of the company’s stock valued at $1,296,000 after buying an additional 3,985 shares during the period. 8.13% of the stock is currently owned by hedge funds and other institutional investors.

Ambev Company Profile

Ambev SA, through its subsidiaries, engages in the production, distribution, and sale of beer, draft beer, carbonated soft drinks, other non-alcoholic beverages, malt, and food products. It offers beer primarily under the Skol, Brahma, Antarctica, Brahva, Budweiser, Bud Light, Beck, Leffe and Hoegaarden, Bucanero, Cristal, Mayabe, Presidente, Presidente Light, Brahma Light, Bohemia, The One, Corona, Modelo Especial, Stella Artois, Quilmes Clásica, Paceña, Taquiña, Huari, Becker, Cusqueña, Michelob Ultra, Busch, Pilsen, Ouro Fino, Banks, Deputy, Patricia, Labatt Blue, Alexander Keith's, and Kokanee brands.