Treasury Wine Estates (OTCMKTS:TSRYY) Shares Gap Down – What’s Next?

Treasury Wine Estates Ltd. (OTCMKTS:TSRYY) shares gapped down before the market opened on Thursday . The stock had previously closed at $3.2550, but opened at $3.1050. Treasury Wine Estates shares last traded at $3.1050, with a volume of 655 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on TSRYY shares. Citigroup upgraded Treasury Wine Estates from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 21st. The Goldman Sachs Group assumed coverage on shares of Treasury Wine Estates in a research report on Tuesday, June 23rd. They set a “neutral” rating and a $5.20 price target for the company. Finally, Zacks Research raised shares of Treasury Wine Estates to a “hold” rating in a report on Friday, June 5th. Five equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $5.20.

Treasury Wine Estates Price Performance

The stock’s fifty day moving average is $3.15 and its 200 day moving average is $3.18.

About Treasury Wine Estates

Treasury Wine Estates is a Melbourne‐based global wine company that produces, markets and distributes a broad portfolio of wines. Its portfolio spans premium, luxury and commercial brands, including Penfolds, Beringer, Stags’ Leap Family Vineyards, Wolf Blass, Lindeman’s and Matua. The company sources fruit from a mix of owned vineyards and long-term grower partnerships across key wine regions in Australia, California and New Zealand.

The business was established in 2011 following a demerger from Foster’s Group and traces its heritage back to the founding of Penfolds in 1844.