Treasury Wine Estates (OTCMKTS:TSRYY) Shares Gap Down – Here’s Why

Treasury Wine Estates Ltd. (OTCMKTS:TSRYY)’s share price gapped down before the market opened on Friday . The stock had previously closed at $3.74, but opened at $3.54. Treasury Wine Estates shares last traded at $3.58, with a volume of 982 shares changing hands.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. The Goldman Sachs Group started coverage on Treasury Wine Estates in a research note on Tuesday, June 23rd. They issued a “neutral” rating and a $5.20 price objective on the stock. Zacks Research upgraded shares of Treasury Wine Estates to a “hold” rating in a research note on Friday, June 5th. Five investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $5.20.

Treasury Wine Estates Stock Performance

The firm’s fifty day moving average is $3.66 and its 200 day moving average is $3.21.

Institutional Investors Weigh In On Treasury Wine Estates

An institutional investor recently bought a new stake in Treasury Wine Estates stock. Ferguson Wellman Capital Management Inc. purchased a new stake in Treasury Wine Estates Ltd. (OTCMKTS:TSRYY) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 10,000 shares of the company’s stock, valued at approximately $33,000.

Treasury Wine Estates Company Profile

Treasury Wine Estates Limited is an Australia-based global wine company that produces, markets and distributes a portfolio of wine brands. Its business spans vineyard management, winemaking, brand development and sales through retail, hospitality and direct-to-consumer channels.

The company’s portfolio includes Penfolds, 19 Crimes, Wolf Blass, Beringer, Lindeman’s, Matua, Sterling Vineyards, Pepperjack and DAOU Family Estates. Its wines cover a range of styles and price points, including premium and luxury offerings as well as more accessible wines.

Treasury Wine Estates serves customers across Australia and New Zealand, the Americas, Europe and Asia.