Constellation Brands Stock Rating Upgraded by Zacks (STZ)
Constellation Brands (NYSE:STZ) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a research note issued to investors on Thursday, AnalystRatingsNetwork.com reports. The firm currently has a $66.00 price target on the stock. Zacks‘ target price indicates a potential upside of 10.65% from the company’s current price.
Zacks‘ analyst wrote, “We have upgraded our recommendation on Constellation Brands to Outperform based on the company’s better-than-expected second-quarter fiscal 2014 results. The major driving factor was consolidation of the Crown Imports business. Further, Constellation Brands boasts a formidable portfolio of well-known brands. The company’s focus on brand building and its numerous growth initiatives have helped it achieve steady depletion trends and an increasing market share in the U.S. wine and spirits category. In order to strengthen its foothold in the U.S. wine industry and to increase its portfolio of brands, the company has been resorting to strategic acquisitions. The buyout of Grupo Modelo has proved to be accretive to the company’s earnings. Considering the positive impact from this acquisition, management raised its earnings guidance for fiscal 2014.”
STZ has been the subject of a number of other recent research reports. Analysts at JPMorgan Chase & Co. raised their price target on shares of Constellation Brands from $53.00 to $66.00 in a research note to investors on Friday, October 4th. They now have a “neutral” rating on the stock. Separately, analysts at DA Davidson raised their price target on shares of Constellation Brands from $70.00 to $78.00 in a research note to investors on Friday, October 4th. They now have a “buy” rating on the stock. Finally, analysts at Goldman Sachs Group Inc. reiterated a “buy” rating on shares of Constellation Brands in a research note to investors on Friday, October 4th. They now have a $65.00 price target on the stock, down previously from $70.00. Three research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $59.55.
Constellation Brands (NYSE:STZ) traded up 1.99% during mid-day trading on Thursday, hitting $60.84. The stock had a trading volume of 659,413 shares. Constellation Brands has a 1-year low of $28.37 and a 1-year high of $62.15. The stock’s 50-day moving average is $57.50 and its 200-day moving average is $52.64. The company has a market cap of $11.466 billion and a P/E ratio of 6.37.
Constellation Brands (NYSE:STZ) last announced its earnings results on Thursday, October 3rd. The company reported $0.96 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.88 by $0.08. The company had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter last year, the company posted $0.71 earnings per share. Constellation Brands’s revenue was up 108.9% compared to the same quarter last year. Analysts expect that Constellation Brands will post $2.98 EPS for the current fiscal year.
Constellation Brands, Inc, is a wine company. The Company is a marketer of imported beer in the United States.
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