Zacks Investment Research Upgrades Compania Cervecerias Unidas (CCU) to “Hold”
Compania Cervecerias Unidas (NYSE:CCU) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued on Tuesday.
According to Zacks, “Compañía Cervecerías Unidas S. A. (CCU) has successfully positioned itself as a Chilean multinational beverage company, with diversified businesses and operations focused on the Southern Cone of South America. CCU is active in the beer industry in Chile, where it operates the country’s leading brewery, and in Argentina, where it holds third place in the market. In the non-alcoholic beverages sector, it is Chile’s second-largest bottler of carbonated beverages and the leader in the mineral water market. It has winemaking operations in Argentina and in Chile. “
A number of other equities research analysts have also recently weighed in on the company. JPMorgan Chase & Co. cut Compania Cervecerias Unidas from a “neutral” rating to an “underweight” rating in a research note on Wednesday, October 5th. TheStreet cut Compania Cervecerias Unidas from a “buy” rating to a “hold” rating in a research note on Tuesday, September 13th. Finally, Citigroup Inc. cut Compania Cervecerias Unidas from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $25.50 to $24.50 in a research note on Monday, August 29th. One research analyst has rated the stock with a sell rating and five have given a hold rating to the company. The company has a consensus rating of “Hold” and an average target price of $24.88.
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Shares of Compania Cervecerias Unidas (NYSE:CCU) traded up 1.27% on Tuesday, hitting $20.80. The stock had a trading volume of 285,675 shares. The stock has a 50 day moving average price of $20.38 and a 200-day moving average price of $21.91. The company has a market cap of $3.84 billion, a price-to-earnings ratio of 23.32 and a beta of 0.67. Compania Cervecerias Unidas has a 12-month low of $18.78 and a 12-month high of $25.27.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. World Asset Management Inc increased its stake in shares of Compania Cervecerias Unidas by 8.1% in the second quarter. World Asset Management Inc now owns 11,443 shares of the company’s stock worth $267,000 after buying an additional 862 shares during the period. Cubist Systematic Strategies LLC acquired a new stake in shares of Compania Cervecerias Unidas during the second quarter worth about $283,000. AXA increased its stake in shares of Compania Cervecerias Unidas by 3,075.0% in the first quarter. AXA now owns 12,700 shares of the company’s stock worth $285,000 after buying an additional 12,300 shares during the period. Americafirst Capital Management LLC acquired a new stake in shares of Compania Cervecerias Unidas during the second quarter worth about $332,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Compania Cervecerias Unidas during the second quarter worth about $532,000. 15.00% of the stock is owned by hedge funds and other institutional investors.
Compania Cervecerias Unidas Company Profile
Compania Cervecerias Unidas SA is a beverage company. The Company operates as a brewer, soft drinks producer, water and nectar producer, wine producer and pisco distributor. It also participates in the home and office delivery (HOD), rum and confectionery industries in Chile; in the beer, water and soft drinks industries in Uruguay, and in the soft drinks, water and nectar industries and beer distribution in Paraguay and Bolivia.
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