Ambev (NYSE:ABEV) Rating Increased to Buy at Wall Street Zen

Ambev (NYSE:ABEV) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Saturday.

Other equities analysts also recently issued research reports about the company. Barclays increased their price target on Ambev from $2.50 to $3.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Weiss Ratings reissued a “hold (c)” rating on shares of Ambev in a research report on Monday, December 29th. Finally, Sanford C. Bernstein restated a “market perform” rating and issued a $2.88 price target on shares of Ambev in a report on Wednesday, November 26th. Six investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Ambev currently has an average rating of “Reduce” and a consensus target price of $2.69.

Ambev Stock Performance

Shares of NYSE:ABEV opened at $3.08 on Friday. The firm’s 50 day simple moving average is $2.70 and its 200-day simple moving average is $2.45. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.73 and a current ratio of 0.96. Ambev has a one year low of $1.87 and a one year high of $3.23. The firm has a market cap of $48.45 billion, a PE ratio of 17.08, a price-to-earnings-growth ratio of 2.27 and a beta of 0.65.

Ambev (NYSE:ABEV) last announced its quarterly earnings results on Thursday, February 12th. The company reported $0.05 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.05. The firm had revenue of $4.50 billion during the quarter, compared to analyst estimates of $4.28 billion. Ambev had a return on equity of 16.41% and a net margin of 17.75%. As a group, equities analysts predict that Ambev will post 0.18 EPS for the current year.

Institutional Trading of Ambev

Hedge funds and other institutional investors have recently made changes to their positions in the business. NewEdge Advisors LLC increased its holdings in shares of Ambev by 17.7% in the fourth quarter. NewEdge Advisors LLC now owns 23,578 shares of the company’s stock valued at $58,000 after purchasing an additional 3,553 shares during the period. Perigon Wealth Management LLC raised its position in Ambev by 34.3% during the 4th quarter. Perigon Wealth Management LLC now owns 15,411 shares of the company’s stock worth $38,000 after buying an additional 3,936 shares during the last quarter. Federation des caisses Desjardins du Quebec lifted its stake in Ambev by 4.4% during the 4th quarter. Federation des caisses Desjardins du Quebec now owns 100,451 shares of the company’s stock valued at $248,000 after acquiring an additional 4,237 shares during the period. Blair William & Co. IL boosted its holdings in shares of Ambev by 3.4% in the 3rd quarter. Blair William & Co. IL now owns 140,579 shares of the company’s stock valued at $313,000 after acquiring an additional 4,557 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Ambev by 2.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 240,887 shares of the company’s stock valued at $595,000 after acquiring an additional 4,700 shares during the last quarter. Hedge funds and other institutional investors own 8.13% of the company’s stock.

About Ambev

Ambev (NYSE: ABEV) is a Brazilian-based beverage company that produces, distributes and markets a broad portfolio of alcoholic and non-alcoholic drinks. The company’s core business centers on brewing and selling beer, alongside a range of soft drinks, bottled water, energy drinks and other malt-based beverages. Headquartered in São Paulo, Ambev operates an integrated value chain that covers manufacturing, packaging, logistics and commercial sales to retail, on-premise and institutional customers.

The company traces its origins to the 1999 merger of two historic Brazilian breweries, and later became part of the broader global brewing group through subsequent industry consolidations.