Ambev S.A. (NYSE:ABEV) Stock Has Average Target Price of $3.01 According to Brokerages

Ambev S.A. (NYSE:ABEV) has been given a consensus recommendation of “Reduce” by the six analysts that are covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating and four have issued a hold rating on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $3.01.

A number of equities research analysts have recently weighed in on ABEV shares. Bank of America downgraded Ambev from a “neutral” rating to an “underperform” rating and set a $3.30 target price for the company. in a report on Wednesday, October 7th. Weiss Ratings lowered shares of Ambev from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, October 26th. UBS Group set a $2.85 price target on shares of Ambev in a research report on Tuesday, August 11th. Wall Street Zen cut shares of Ambev from a “buy” rating to a “hold” rating in a research note on Saturday, October 31st. Finally, Barclays cut their price objective on shares of Ambev from $3.50 to $3.00 and set an “equal weight” rating for the company in a report on Friday, October 30th.

Insider Buying and Selling at Ambev

In other news, insider Carla Smith De Vasconcellos Crippa Prado sold 60,757 shares of Ambev stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $3.09, for a total value of $187,739.13. Following the completion of the sale, the insider directly owned 80,707 shares in the company, valued at approximately $249,384.63. The trade was a 42.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Institutional Trading of Ambev

A number of institutional investors have recently modified their holdings of the stock. First Eagle Investment Management LLC grew its position in Ambev by 0.7% during the 2nd quarter. First Eagle Investment Management LLC now owns 349,323,217 shares of the company’s stock worth $1,096,875,000 after acquiring an additional 2,338,660 shares during the last quarter. Renaissance Technologies LLC raised its position in Ambev by 6.5% in the first quarter. Renaissance Technologies LLC now owns 27,354,300 shares of the company’s stock valued at $79,875,000 after purchasing an additional 1,674,900 shares during the last quarter. RWC Asset Management LLP boosted its stake in shares of Ambev by 2.2% during the third quarter. RWC Asset Management LLP now owns 10,779,739 shares of the company’s stock valued at $31,477,000 after purchasing an additional 231,992 shares in the last quarter. Formuepleje A S acquired a new stake in shares of Ambev during the third quarter valued at about $23,610,000. Finally, DJE Kapital AG acquired a new stake in shares of Ambev during the first quarter valued at about $14,778,000. 8.13% of the stock is currently owned by institutional investors.

Ambev Stock Performance

NYSE:ABEV opened at $2.79 on Tuesday. The stock has a market cap of $44.05 billion, a P/E ratio of 14.53 and a beta of 0.58. The stock has a 50 day simple moving average of $3.01 and a 200 day simple moving average of $3.02. The company has a current ratio of 1.06, a quick ratio of 0.81 and a debt-to-equity ratio of 0.02. Ambev has a 1-year low of $2.28 and a 1-year high of $3.45.

Ambev (NYSE:ABEV) last issued its quarterly earnings data on Thursday, October 29th. The company reported $0.05 EPS for the quarter, meeting analysts’ consensus estimates of $0.05. Ambev had a return on equity of 18.13% and a net margin of 17.80%. The firm had revenue of $4.17 billion for the quarter, compared to analyst estimates of $4.21 billion. Research analysts anticipate that Ambev will post 0.21 earnings per share for the current year.

Ambev Company Profile

Ambev SA is a Brazilian beverage company headquartered in São Paulo and one of the largest beverage producers in Latin America. Its principal business is the production, distribution and sale of beer, although it also offers soft drinks, carbonated beverages, bottled water, energy drinks and other non-alcoholic products.

The company’s beer portfolio includes brands such as Brahma, Skol, Antarctica, Bohemia, Original, Budweiser, Stella Artois and Corona, with brand availability varying by market.