Ambev (NYSE:ABEV) Cut to “Hold” at Wall Street Zen

Wall Street Zen downgraded shares of Ambev (NYSE:ABEV) from a buy rating to a hold rating in a research report report published on Sunday morning,Wall Street Zen reports.

Other equities analysts also recently issued research reports about the company. Barclays decreased their target price on Ambev from $3.50 to $3.00 and set an “equal weight” rating for the company in a report on Friday, October 30th. Weiss Ratings cut shares of Ambev from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, October 26th. UBS Group set a $2.85 price objective on shares of Ambev in a research report on Tuesday, August 11th. Scotiabank lowered shares of Ambev from a “sector outperform” rating to a “sector perform” rating in a report on Wednesday, July 15th. Finally, Bank of America cut shares of Ambev from a “neutral” rating to an “underperform” rating and set a $3.30 target price for the company. in a research report on Wednesday, October 7th. Four equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus price target of $3.01.

Ambev Trading Up 0.5%

NYSE:ABEV opened at $2.77 on Friday. The company has a fifty day moving average of $3.00 and a 200 day moving average of $3.03. Ambev has a 52 week low of $2.28 and a 52 week high of $3.45. The company has a quick ratio of 0.81, a current ratio of 1.06 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $43.74 billion, a P/E ratio of 14.53 and a beta of 0.58.

Ambev (NYSE:ABEV) last released its quarterly earnings data on Thursday, October 29th. The company reported $0.05 earnings per share for the quarter, hitting the consensus estimate of $0.05. The business had revenue of $4.17 billion during the quarter, compared to analysts’ expectations of $4.21 billion. Ambev had a return on equity of 18.13% and a net margin of 17.80%. On average, research analysts predict that Ambev will post 0.20 earnings per share for the current year.

Insider Activity

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

Institutional Investors Weigh In On Ambev

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Private Advisor Group LLC bought a new position in Ambev in the third quarter worth $77,000. Focus Advisor Solutions LLC purchased a new position in Ambev during the third quarter valued at $33,000. Composition Wealth LLC boosted its holdings in shares of Ambev by 41.0% during the 3rd quarter. Composition Wealth LLC now owns 31,216 shares of the company’s stock valued at $91,000 after buying an additional 9,080 shares in the last quarter. Global Retirement Partners LLC boosted its holdings in shares of Ambev by 28.2% during the 3rd quarter. Global Retirement Partners LLC now owns 124,526 shares of the company’s stock valued at $364,000 after buying an additional 27,368 shares in the last quarter. Finally, Cibc World Market Inc. boosted its holdings in shares of Ambev by 1.2% during the 3rd quarter. Cibc World Market Inc. now owns 5,814,520 shares of the company’s stock valued at $16,978,000 after buying an additional 68,735 shares in the last quarter. 8.13% of the stock is owned by hedge funds and other institutional investors.

Ambev Company Profile

Ambev S.A. is a beverage company headquartered in São Paulo, Brazil. It produces, distributes and sells beer and other beverages, including soft drinks, water and energy drinks. Its beer portfolio includes brands such as Brahma, Antarctica and Skol, as well as international brands marketed under license or through distribution agreements. The company serves customers across Brazil and other markets in Latin America, including countries in South America, Central America and the Caribbean. Its operations span beverage production, packaging and distribution, supported by a network that delivers products to retailers, bars and restaurants.