Constellation Brands (NYSE:STZ) Receives Buy Rating from SunTrust Banks

Constellation Brands (NYSE:STZ)‘s stock had its “buy” rating reissued by investment analysts at SunTrust Banks in a note issued to investors on Monday, January 8th, Marketbeat reports. They presently have a $250.00 price objective on the stock, up from their previous price objective of $230.00. SunTrust Banks’ price target indicates a potential upside of 14.93% from the stock’s current price. SunTrust Banks also issued estimates for Constellation Brands’ FY2019 earnings at $10.26 EPS.

A number of other equities analysts have also issued reports on STZ. Macquarie initiated coverage on shares of Constellation Brands in a research report on Thursday, September 14th. They issued an “outperform” rating and a $227.00 target price for the company. Susquehanna Bancshares reiterated a “neutral” rating and issued a $193.00 target price (up previously from $169.00) on shares of Constellation Brands in a research report on Monday, October 2nd. Pivotal Research increased their target price on shares of Constellation Brands from $250.00 to $265.00 and gave the company a “buy” rating in a research report on Thursday, October 5th. Stifel Nicolaus increased their target price on shares of Constellation Brands from $216.00 to $235.00 and gave the company a “buy” rating in a research report on Friday, October 6th. Finally, Royal Bank of Canada increased their target price on shares of Constellation Brands from $222.00 to $226.00 and gave the company an “outperform” rating in a research report on Friday, October 6th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $229.00.

Shares of Constellation Brands (NYSE:STZ) opened at $217.52 on Monday. The firm has a market cap of $42,353.32, a price-to-earnings ratio of 23.69, a price-to-earnings-growth ratio of 1.34 and a beta of 0.08. Constellation Brands has a twelve month low of $146.99 and a twelve month high of $229.50. The company has a current ratio of 1.40, a quick ratio of 0.54 and a debt-to-equity ratio of 1.01.

Constellation Brands (NYSE:STZ) last issued its earnings results on Friday, January 5th. The company reported $2.00 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.87 by $0.13. The company had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $1.87 billion. Constellation Brands had a net margin of 22.55% and a return on equity of 22.04%. During the same period in the prior year, the company earned $1.96 earnings per share. sell-side analysts anticipate that Constellation Brands will post 8.53 EPS for the current fiscal year.

Constellation Brands declared that its Board of Directors has approved a stock repurchase plan on Friday, January 5th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

In other Constellation Brands news, VP Thomas J. Mullin sold 18,227 shares of the stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $217.01, for a total transaction of $3,955,441.27. Following the transaction, the vice president now owns 72,924 shares in the company, valued at $15,825,237.24. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 15.59% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Oppenheimer Asset Management Inc. grew its stake in shares of Constellation Brands by 50.3% in the second quarter. Oppenheimer Asset Management Inc. now owns 577 shares of the company’s stock worth $112,000 after acquiring an additional 193 shares during the last quarter. Valeo Financial Advisors LLC acquired a new stake in shares of Constellation Brands in the third quarter worth $153,000. MPS Loria Financial Planners LLC acquired a new stake in shares of Constellation Brands in the second quarter worth $157,000. Acrospire Investment Management LLC grew its stake in shares of Constellation Brands by 100.0% in the second quarter. Acrospire Investment Management LLC now owns 800 shares of the company’s stock worth $155,000 after acquiring an additional 400 shares during the last quarter. Finally, BB&T Investment Services Inc. acquired a new stake in shares of Constellation Brands in the second quarter worth $179,000. Institutional investors and hedge funds own 74.96% of the company’s stock.

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Constellation Brands Company Profile

Constellation Brands, Inc is an international beverage alcohol company. The Company is a producer and marketer of beer, wine and spirits with operations in the United States, Canada, Mexico, New Zealand and Italy. Its segments include Beer, Wine and Spirits, and Corporate Operations and Other. It is a multi-category supplier (beer, wine and spirits) of beverage alcohol in the United States.

Analyst Recommendations for Constellation Brands (NYSE:STZ)

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