UBS Group Lowers Ambev (NYSE:ABEV) Price Target to $2.90

Ambev (NYSE:ABEV) had its price objective lowered by equities researchers at UBS Group from $3.20 to $2.90 in a research report issued on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the stock. UBS Group’s target price would suggest a potential upside of 40.78% from the stock’s previous close.

Several other brokerages also recently weighed in on ABEV. Barclays decreased their target price on Ambev from $3.00 to $2.50 and set an “equal weight” rating for the company in a research note on Thursday, May 9th. StockNews.com lowered shares of Ambev from a “strong-buy” rating to a “buy” rating in a research report on Monday, June 24th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $2.75.

Ambev Stock Performance

Shares of Ambev stock traded down $0.03 on Wednesday, reaching $2.06. The stock had a trading volume of 16,958,023 shares, compared to its average volume of 14,638,515. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.69 and a current ratio of 0.99. The business’s 50-day moving average price is $2.13 and its two-hundred day moving average price is $2.37. The stock has a market cap of $32.45 billion, a P/E ratio of 10.84, a price-to-earnings-growth ratio of 3.24 and a beta of 1.06. Ambev has a fifty-two week low of $2.01 and a fifty-two week high of $3.16.

Ambev (NYSE:ABEV) last released its earnings results on Wednesday, May 8th. The company reported $0.05 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.05. The firm had revenue of $4.09 billion during the quarter, compared to analyst estimates of $4 billion. Ambev had a net margin of 18.25% and a return on equity of 17.53%. On average, sell-side analysts forecast that Ambev will post 0.18 EPS for the current year.

Institutional Trading of Ambev

Institutional investors have recently modified their holdings of the company. Radnor Capital Management LLC bought a new position in Ambev in the first quarter worth $25,000. Lake Street Advisors Group LLC acquired a new stake in shares of Ambev during the 1st quarter valued at about $28,000. IPG Investment Advisors LLC bought a new stake in Ambev in the fourth quarter valued at about $30,000. HighPoint Advisor Group LLC acquired a new position in Ambev in the fourth quarter worth about $31,000. Finally, IRON Financial LLC bought a new position in Ambev during the first quarter worth about $33,000. Institutional investors and hedge funds own 8.13% of the company’s stock.

Ambev Company Profile

Ambev SA, through its subsidiaries, engages in the production, distribution, and sale of beer, draft beer, carbonated soft drinks, other non-alcoholic beverages, malt, and food products. It offers beer primarily under the Skol, Brahma, Antarctica, Brahva, Budweiser, Bud Light, Beck, Leffe and Hoegaarden, 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, Banks, Deputy, Patricia, Labatt Blue, Alexander Keith's, and Kokanee brands.