Carlsberg AS (OTCMKTS:CABGY) Shares Gap Up – Here’s Why

Shares of Carlsberg AS (OTCMKTS:CABGY) gapped up before the market opened on Thursday . The stock had previously closed at $26.16, but opened at $27.77. Carlsberg AS shares last traded at $27.89, with a volume of 2,824 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Berenberg Bank upgraded shares of Carlsberg AS from a “hold” rating to a “buy” rating in a research report on Monday, March 16th. Zacks Research cut Carlsberg AS from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 8th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Carlsberg AS currently has a consensus rating of “Buy”.

Carlsberg AS Price Performance

The company has a 50 day simple moving average of $26.43 and a 200 day simple moving average of $27.02. The company has a current ratio of 0.60, a quick ratio of 0.46 and a debt-to-equity ratio of 2.00.

Carlsberg AS Company Profile

Carlsberg A/S is a Danish multinational brewer founded in 1847 and headquartered in Copenhagen. The company is primarily engaged in the brewing, marketing and distribution of beer, cider and related beverages. Its portfolio comprises global and regional beer brands, led by the Carlsberg and Tuborg names, alongside a range of local brands tailored to specific markets. Carlsberg also operates maltings and brewing facilities and provides packaging and logistics services that support its beverage operations.

Carlsberg sells products across Europe and Asia and maintains a presence in numerous other markets through wholly owned subsidiaries, joint ventures and export arrangements.