Ambev SA (ABEV) Rating Reiterated by Goldman Sachs Group Inc.
Ambev SA (NYSE:ABEV)‘s stock had its “buy” rating reissued by research analysts at Goldman Sachs Group Inc. in a report issued on Monday. They presently have a $6.80 price target on the stock. Goldman Sachs Group Inc.’s target price points to a potential upside of 12.21% from the stock’s current price.
ABEV has been the subject of several other reports. TheStreet upgraded Ambev SA from a “hold” rating to a “buy” rating in a report on Tuesday, August 9th. Zacks Investment Research lowered Ambev SA from a “buy” rating to a “hold” rating in a report on Monday, July 4th. Finally, Morgan Stanley lowered Ambev SA from an “overweight” rating to an “equal weight” rating and increased their price objective for the stock from $6.00 to $6.40 in a report on Thursday, August 18th. They noted that the move was a valuation call. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $6.05.
Ambev SA (NYSE:ABEV) traded up 0.908% on Monday, hitting $6.115. The company had a trading volume of 1,788,110 shares. The firm’s 50 day moving average price is $6.04 and its 200 day moving average price is $5.66. The stock has a market cap of $96.00 billion, a P/E ratio of 26.587 and a beta of 0.82. Ambev SA has a 12-month low of $3.86 and a 12-month high of $6.32.
Institutional investors have recently bought and sold shares of the company. Park National Corp OH acquired a new position in Ambev SA during the third quarter valued at approximately $119,000. Commonwealth Equity Services Inc increased its position in Ambev SA by 69.6% in the second quarter. Commonwealth Equity Services Inc now owns 23,647 shares of the company’s stock valued at $140,000 after buying an additional 9,704 shares during the last quarter. CIBC World Markets Inc. increased its position in Ambev SA by 144.7% in the first quarter. CIBC World Markets Inc. now owns 31,630 shares of the company’s stock valued at $164,000 after buying an additional 18,704 shares during the last quarter. Global X Management Co. LLC increased its position in Ambev SA by 13.3% in the second quarter. Global X Management Co. LLC now owns 32,804 shares of the company’s stock valued at $194,000 after buying an additional 3,846 shares during the last quarter. Finally, Ingalls & Snyder LLC acquired a new position in Ambev SA during the second quarter valued at approximately $197,000. 7.22% of the stock is currently owned by hedge funds and other institutional investors.
About Ambev SA
Ambev SA, formerly Inbev Participacoes Societarias SA, is a Brazil-based company engaged in the brewing sector. The Company produces and sells beer, carbonated soft drinks (CSDs) and other non-alcoholic and non-carbonated (NANC) beverages across the Americas. The Company’s activities are divided into three segments: Latin America North, including sell of beer, CSD and NANC drinks in Brazil, as well as operations in Dominican Republic, Saint Vincent, Antigua, Dominica, Guatemala, El Salvador, Nicaragua and Cuba; Latin America South, distributing products in Argentina, Bolivia, Paraguay, Uruguay, Chile, Ecuador, Peru and Colombia, and Canada, represented by Labatt’s operations, which comprises sales in Canada.
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