Bank of America Lowers Molson Coors Brewing (NYSE:TAP) to Underperform
Other research analysts have also issued reports about the stock. ValuEngine upgraded shares of Valmont Industries from a sell rating to a hold rating in a research note on Friday, July 12th. Credit Suisse Group lowered shares of Air China from a neutral rating to an underperform rating in a research note on Monday, June 10th. Zacks Investment Research lowered shares of Hersha Hospitality Trust from a buy rating to a hold rating in a research note on Thursday, May 2nd. Finally, Jefferies Financial Group reiterated a sell rating on shares of Molson Coors Brewing in a research note on Wednesday, April 10th. Four equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of Hold and a consensus price target of $68.55.
NYSE:TAP opened at $54.29 on Monday. Molson Coors Brewing has a 1 year low of $52.36 and a 1 year high of $71.04. The firm has a fifty day moving average price of $55.46. The company has a quick ratio of 0.39, a current ratio of 0.56 and a debt-to-equity ratio of 0.61. The firm has a market cap of $11.78 billion, a price-to-earnings ratio of 10.77, a PEG ratio of 2.60 and a beta of 0.81.
In other Molson Coors Brewing news, CEO Mark Hunter sold 11,287 shares of the firm’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $60.06, for a total value of $677,897.22. Following the sale, the chief executive officer now directly owns 166,743 shares in the company, valued at approximately $10,014,584.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.48% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Wakefield Asset Management LLLP bought a new position in shares of Molson Coors Brewing during the 4th quarter worth about $26,000. Icon Wealth Partners LLC bought a new position in shares of Molson Coors Brewing during the 1st quarter worth about $27,000. Synovus Financial Corp bought a new position in shares of Molson Coors Brewing during the 1st quarter worth about $30,000. Pinnacle Bank bought a new position in shares of Molson Coors Brewing during the 4th quarter worth about $34,000. Finally, Massey Quick Simon & CO. LLC bought a new position in shares of Molson Coors Brewing during the 1st quarter worth about $36,000. 77.62% of the stock is owned by institutional investors.
About Molson Coors Brewing
Molson Coors Brewing Company manufactures, markets, and sells beer and other malt beverage products in the United States, Canada, Europe, and internationally. The company sells various products under the Blue Moon, Coors Banquet, Coors Light, Miller Genuine Draft, Miller Lite, Hamm's, Icehouse, Keystone, Mickey's, Miller64, Miller High Life, Milwaukee's Best, Olde English, Steel Reserve, Grolsch, Hop Valley, Leinenkugel's, Peroni Nastro Azurro, Pilsner Urquell, Revolver, Saint Archer, Sol, Terrapin, Crispin, Smith & Forge, Arnold Palmer Spiked, Henry's Hard, Redd's, and Steel Reserve Alloy Series brands.
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