Ambev (NYSE:ABEV) Cut to “Market Perform” at Sanford C. Bernstein

Sanford C. Bernstein cut shares of Ambev (NYSE:ABEV) from an outperform rating to a market perform rating in a research report sent to investors on Wednesday, MarketBeat reports. Sanford C. Bernstein currently has $2.88 price target on the stock.

Other research analysts have also recently issued research reports about the company. Weiss Ratings restated a “hold (c)” rating on shares of Ambev in a research report on Tuesday. Zacks Research upgraded shares of Ambev from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 30th. Hsbc Global Res upgraded shares of Ambev to a “hold” rating in a research report on Friday, August 1st. UBS Group lowered their price target on shares of Ambev from $2.50 to $2.20 and set a “neutral” rating on the stock in a research report on Wednesday, August 20th. Finally, HSBC reissued a “hold” rating on shares of Ambev in a research note on Friday, August 1st. Nine investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and an average target price of $2.53.

Ambev Price Performance

Shares of NYSE:ABEV opened at $2.55 on Wednesday. The business’s 50 day simple moving average is $2.33 and its 200-day simple moving average is $2.35. The firm has a market capitalization of $40.21 billion, a price-to-earnings ratio of 15.95, a price-to-earnings-growth ratio of 2.19 and a beta of 0.85. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.11 and a quick ratio of 0.80. Ambev has a 12 month low of $1.76 and a 12 month high of $2.63.

Ambev (NYSE:ABEV) last released its quarterly earnings data on Thursday, October 30th. The company reported $0.04 earnings per share for the quarter, meeting the consensus estimate of $0.04. The firm had revenue of $3.90 billion during the quarter, compared to the consensus estimate of $3.97 billion. Ambev had a return on equity of 15.39% and a net margin of 16.18%. As a group, equities analysts forecast that Ambev will post 0.18 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. First Affirmative Financial Network grew its position in shares of Ambev by 20.9% in the third quarter. First Affirmative Financial Network now owns 96,342 shares of the company’s stock valued at $215,000 after purchasing an additional 16,681 shares during the period. Coldstream Capital Management Inc. acquired a new stake in Ambev in the 3rd quarter worth about $144,000. Morningstar Investment Management LLC purchased a new stake in Ambev in the 3rd quarter valued at about $4,550,000. United Capital Financial Advisors LLC acquired a new position in shares of Ambev during the 3rd quarter valued at about $31,000. Finally, National Bank of Canada FI lifted its holdings in shares of Ambev by 55.6% during the 3rd quarter. National Bank of Canada FI now owns 161,909 shares of the company’s stock worth $359,000 after acquiring an additional 57,877 shares during the period. 8.13% of the stock is currently owned by institutional investors and hedge funds.

Ambev Company Profile

Ambev SA, through its subsidiaries, engages in the production, distribution, and sale of beer, draft beer, carbonated soft drinks, malt and food, other alcoholic beverages, and non-alcoholic and non-carbonated products in Brazil, Central America and Caribbean, Latin America South, and Canada. It offers beer primarily under the Skol, Brahma, Antarctica, Brahva, Budweiser, Bud Light, Beck, Leffe, Hoegaarden, Balboa ICE, Balboa, Atlas Golden Light, Atlas, Bucanero, Cristal, Mayabe, Presidente, Presidente Light, Brahma Light, Bohemia, The One, Corona, Modelo Especial, Stella Artois, Quilmes Clásica, Paceña, Taquiña, Huari, Becker, Cusqueña, Michelob Ultra, Busch, Pilsen, Ouro Fino, Bud 66, Banks, Deputy, Patricia, Labatt Blue, Alexander Keith’s, and Kokanee brands.