Canaccord Genuity Reaffirms “Buy” Rating for Cott Corp (COT)
Cott Corp (NYSE:COT) (TSE:BCB)‘s stock had its “buy” rating reiterated by equities researchers at Canaccord Genuity in a research report issued to clients and investors on Friday. They presently have a $20.00 price objective on the stock. Canaccord Genuity’s price target indicates a potential upside of 32.63% from the stock’s previous close.
Other equities analysts have also recently issued research reports about the stock. Royal Bank Of Canada reaffirmed a “buy” rating and set a $20.00 price objective on shares of Cott Corp in a research report on Friday, September 15th. ValuEngine raised shares of Cott Corp from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. BMO Capital Markets reaffirmed an “outperform” rating on shares of Cott Corp in a research report on Tuesday, September 12th. Zacks Investment Research cut shares of Cott Corp from a “hold” rating to a “strong sell” rating in a research report on Wednesday, September 20th. Finally, Jefferies Group LLC increased their price objective on shares of Cott Corp from $14.00 to $14.25 and gave the stock a “hold” rating in a research report on Thursday, July 6th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $17.21.
Shares of Cott Corp (COT) traded down 0.13% on Friday, hitting $15.08. The company’s stock had a trading volume of 476,852 shares. Cott Corp has a one year low of $10.10 and a one year high of $16.18. The stock has a 50-day moving average price of $15.13 and a 200 day moving average price of $14.41. The firm’s market cap is $2.10 billion.
Cott Corp (NYSE:COT) (TSE:BCB) last posted its quarterly earnings results on Thursday, August 3rd. The company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.10). Cott Corp had a negative net margin of 2.20% and a negative return on equity of 11.88%. The firm had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $984.75 million. During the same period last year, the company earned $0.15 EPS. The business’s quarterly revenue was up 32.5% on a year-over-year basis.
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In other Cott Corp news, Director Gregory R. Monahan sold 8,500 shares of the firm’s stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $15.30, for a total value of $130,050.00. Following the completion of the transaction, the director now owns 115,666 shares of the company’s stock, valued at approximately $1,769,689.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Jason R. Ausher sold 5,800 shares of the firm’s stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of $15.35, for a total transaction of $89,030.00. Following the completion of the transaction, the chief accounting officer now directly owns 20,770 shares of the company’s stock, valued at approximately $318,819.50. The disclosure for this sale can be found here. Company insiders own 2.06% of the company’s stock.
Hedge funds have recently modified their holdings of the business. Clearbridge Investments LLC acquired a new stake in shares of Cott Corp in the 1st quarter valued at $2,329,000. Thompson Siegel & Walmsley LLC raised its holdings in shares of Cott Corp by 4.7% in the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 684,400 shares of the company’s stock valued at $9,883,000 after purchasing an additional 30,700 shares in the last quarter. Quantitative Systematic Strategies LLC acquired a new stake in shares of Cott Corp in the 3rd quarter valued at $682,000. Marshall Wace North America L.P. acquired a new stake in shares of Cott Corp in the 1st quarter valued at $265,000. Finally, MARSHALL WACE ASIA Ltd acquired a new stake in shares of Cott Corp in the 1st quarter valued at $265,000.
Cott Corp Company Profile
Cott Corp is a Canada-based company, which along with its subsidiaries, is engaged in production of beverages on behalf of retailers, brand owners and distributors. The Company operates through five operating segments: Water & Coffee Solutions; Cott North America; Cott United Kingdom (Cott U.K.), Royal Crown International (RCI) and Mexico.
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