Ambev S.A. (NYSE:ABEV)‘s stock had its “outperform” rating restated by investment analysts at Evercore ISI in a research note issued on Friday, The Fly reports. They currently have a $8.50 price target on the stock, up from their previous price target of $7.00. Evercore ISI’s price objective suggests a potential upside of 25.18% from the company’s previous close.

Several other equities analysts also recently weighed in on ABEV. Zacks Investment Research raised Ambev from a “hold” rating to a “buy” rating and set a $6.00 price objective for the company in a research note on Monday, July 10th. Barclays PLC reaffirmed a “hold” rating on shares of Ambev in a research note on Sunday, July 30th. Credit Suisse Group raised Ambev from a “neutral” rating to an “outperform” rating in a research note on Tuesday, September 12th. Finally, BidaskClub downgraded Ambev from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 28th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $6.90.

Ambev (NYSE:ABEV) last released its quarterly earnings data on Thursday, July 27th. The company reported $0.04 earnings per share for the quarter, meeting the consensus estimate of $0.04. Ambev had a return on equity of 23.24% and a net margin of 27.14%. The firm had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.33 billion.

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A number of institutional investors have recently added to or reduced their stakes in the business. Vontobel Asset Management Inc. increased its position in Ambev by 4.6% during the second quarter. Vontobel Asset Management Inc. now owns 168,685,140 shares of the company’s stock worth $942,525,000 after buying an additional 7,409,229 shares in the last quarter. JPMorgan Chase & Co. increased its position in Ambev by 17.3% during the second quarter. JPMorgan Chase & Co. now owns 86,117,491 shares of the company’s stock worth $472,786,000 after buying an additional 12,723,137 shares in the last quarter. Vanguard Group Inc. increased its position in Ambev by 0.5% during the second quarter. Vanguard Group Inc. now owns 40,388,366 shares of the company’s stock worth $221,732,000 after buying an additional 192,012 shares in the last quarter. Artisan Partners Limited Partnership increased its position in Ambev by 275.2% during the second quarter. Artisan Partners Limited Partnership now owns 31,901,018 shares of the company’s stock worth $175,137,000 after buying an additional 23,398,802 shares in the last quarter. Finally, Mondrian Investment Partners LTD increased its position in Ambev by 9.8% during the second quarter. Mondrian Investment Partners LTD now owns 31,056,100 shares of the company’s stock worth $170,498,000 after buying an additional 2,774,000 shares in the last quarter. 7.30% of the stock is owned by institutional investors.

About Ambev

Ambev SA, formerly Inbev Participacoes Societarias SA, is a Brazil-based company engaged in the brewing sector. The Company produces and sells beer, carbonated soft drinks (CSDs) and other non-alcoholic and non-carbonated (NANC) beverages across the Americas. The Company’s activities are divided into three segments: Latin America North, including sell of beer, CSD and NANC drinks in Brazil, as well as operations in Dominican Republic, Saint Vincent, Antigua, Dominica, Guatemala, El Salvador, Nicaragua and Cuba; Latin America South, distributing products in Argentina, Bolivia, Paraguay, Uruguay, Chile, Ecuador, Peru and Colombia, and Canada, represented by Labatt’s operations, which comprises sales in Canada.

The Fly

Analyst Recommendations for Ambev (NYSE:ABEV)

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