Stifel Nicolaus Increases Constellation Brands Price Target to $113.00 (STZ)
Equities researchers at Stifel Nicolaus hoisted their price objective on shares of Constellation Brands (NYSE:STZ) from $90.00 to $113.00 in a research report issued on Thursday. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ price target suggests a potential upside of 24.93% from the company’s current price.
The analysts wrote, “Constellation says that it is in the process of soliciting bids on raw materials from sources other than ABI (Constellation currently purchases all of its raw materials from ABI) and that investors can expect an update on this process, including plans for self-sourcing of finished goods before calendar year-end (“over the next few months”, per CEO Rob Sands; e.g., next quarterly call). With this news, we anticipate an upward revision to management’s long-term margin target of ‘low- to mid-30s’ after buildout of Nava is complete, targeted for completion by Summer 2016. Our estimates currently reflect a forecast of 35.3% margin in FY17.”
Other equities research analysts have also recently issued reports about the stock. Analysts at RBC Capital raised their price target on shares of Constellation Brands from $100.00 to $102.00 in a research note on Thursday. They now have an “outperform” rating on the stock. Separately, analysts at Societe Generale raised their price target on shares of Constellation Brands from $77.00 to $85.00 in a research note on Thursday. They now have a “sell” rating on the stock. Finally, analysts at Citigroup Inc. reiterated a “hold” rating on shares of Constellation Brands in a research note on Thursday, May 29th. They now have a $93.00 price target on the stock, up previously from $90.00. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $86.56.
Shares of Constellation Brands (NYSE:STZ) opened at 90.45 on Thursday. Constellation Brands has a one year low of $49.32 and a one year high of $94.77. The stock has a 50-day moving average of $84.39 and a 200-day moving average of $80.27. The company has a market cap of $17.348 billion and a price-to-earnings ratio of 8.99. Constellation Brands also was the recipient of unusually large options trading on Tuesday. Stock traders purchased 4,444 put options on the company. This is an increase of approximately 621% compared to the typical daily volume of 616 put options.
Constellation Brands (NYSE:STZ) last posted its quarterly earnings results on Wednesday, July 2nd. The company reported $1.07 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.93 by $0.14. The company had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.41 billion. During the same quarter last year, the company posted $0.38 earnings per share. Constellation Brands’s revenue was up 126.7% compared to the same quarter last year. Analysts expect that Constellation Brands will post $4.12 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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