StockNews.com Upgrades Molson Coors Beverage (NYSE:TAP) to Buy

Molson Coors Beverage (NYSE:TAP) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Friday.

TAP has been the topic of several other reports. JPMorgan Chase & Co. upped their target price on shares of Molson Coors Beverage from $57.00 to $60.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Bank of America raised Molson Coors Beverage from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $57.00 to $70.00 in a research report on Friday, December 6th. Wells Fargo & Company upgraded Molson Coors Beverage from an “underweight” rating to an “overweight” rating and increased their price objective for the company from $52.00 to $74.00 in a research note on Friday, November 8th. Needham & Company LLC began coverage on Molson Coors Beverage in a research note on Friday, December 6th. They set a “buy” rating and a $72.00 target price for the company. Finally, Barclays increased their price target on Molson Coors Beverage from $49.00 to $51.00 and gave the company an “underweight” rating in a research report on Monday, November 11th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $62.00.

Molson Coors Beverage Trading Up 0.2 %

TAP opened at $61.07 on Friday. Molson Coors Beverage has a 52 week low of $49.19 and a 52 week high of $69.18. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.46. The business has a fifty day simple moving average of $58.53 and a 200-day simple moving average of $55.00. The firm has a market cap of $12.58 billion, a P/E ratio of 13.75, a P/E/G ratio of 2.38 and a beta of 0.85.

Molson Coors Beverage (NYSE:TAP) last announced its earnings results on Thursday, November 7th. The company reported $1.80 EPS for the quarter, beating analysts’ consensus estimates of $1.67 by $0.13. The company had revenue of $3.04 billion during the quarter, compared to analysts’ expectations of $3.13 billion. Molson Coors Beverage had a return on equity of 9.24% and a net margin of 6.78%. Molson Coors Beverage’s revenue for the quarter was down 7.8% on a year-over-year basis. During the same period last year, the business posted $1.92 EPS. On average, equities analysts expect that Molson Coors Beverage will post 5.78 earnings per share for the current year.

Institutional Trading of Molson Coors Beverage

Institutional investors and hedge funds have recently made changes to their positions in the company. Family Firm Inc. acquired a new position in Molson Coors Beverage during the second quarter worth approximately $26,000. Altshuler Shaham Ltd acquired a new position in shares of Molson Coors Beverage in the 2nd quarter valued at $27,000. Ashton Thomas Securities LLC purchased a new stake in Molson Coors Beverage in the 3rd quarter valued at $35,000. Gladius Capital Management LP purchased a new stake in Molson Coors Beverage in the 3rd quarter valued at $42,000. Finally, Quarry LP acquired a new stake in Molson Coors Beverage during the 2nd quarter worth $54,000. 78.46% of the stock is owned by hedge funds and other institutional investors.

Molson Coors Beverage Company Profile

Molson Coors Beverage Company manufactures, markets, and sells beer and other malt beverage products under various brands in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers flavored malt beverages including hard seltzers, craft, spirits and energy, and ready to drink beverages.