Constellation Brands (NYSE:STZ) Stock Rating Raised to Neutral at Bank of America

Constellation Brands (NYSE:STZ) was upgraded by stock analysts at Bank of America from an “underperform” rating to a “neutral” rating in a report issued on Wednesday, MarketBeat Ratings reports. The firm currently has a $160.00 price target on the stock. Bank of America‘s target price suggests a potential upside of 16.11% from the stock’s current price.

Several other equities analysts also recently commented on the stock. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Constellation Brands from $136.00 to $127.00 and set a “hold” rating on the stock in a report on Thursday, October 8th. Citigroup restated a “negative” rating on shares of Constellation Brands in a research note on Wednesday, October 7th. Evercore set a $160.00 target price on shares of Constellation Brands in a research note on Monday, September 21st. BNP Paribas Exane reduced their target price on shares of Constellation Brands from $115.00 to $110.00 and set an “underperform” rating for the company in a report on Monday, September 21st. Finally, The Goldman Sachs Group set a $155.00 price target on shares of Constellation Brands in a research note on Wednesday, October 7th. Twelve analysts have rated the stock with a Buy rating, seven have given a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat, Constellation Brands presently has an average rating of “Hold” and an average target price of $154.09.

Constellation Brands Stock Performance

Shares of NYSE STZ opened at $137.80 on Wednesday. The company has a current ratio of 1.00, a quick ratio of 0.53 and a debt-to-equity ratio of 1.02. The company has a market capitalization of $23.32 billion, a P/E ratio of 12.36, a P/E/G ratio of 2.88 and a beta of 0.39. Constellation Brands has a 12 month low of $110.60 and a 12 month high of $168.60. The stock has a 50 day moving average of $125.48 and a 200-day moving average of $141.69.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings results on Tuesday, October 6th. The company reported $3.74 earnings per share for the quarter, beating analysts’ consensus estimates of $3.62 by $0.12. Constellation Brands had a return on equity of 24.75% and a net margin of 19.57%. The business had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.54 billion. During the same quarter in the prior year, the business earned $3.63 EPS. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. Constellation Brands has set its FY 2027 guidance at 11.200-11.900 EPS. As a group, equities research analysts predict that Constellation Brands will post 11.85 EPS for the current year.

Institutional Investors Weigh In On Constellation Brands

A number of hedge funds and other institutional investors have recently modified their holdings of STZ. Hohimer Wealth Management LLC bought a new position in Constellation Brands during the third quarter worth about $465,000. University of Texas Texas AM Investment Management Co. raised its stake in Constellation Brands by 197.4% in the 3rd quarter. University of Texas Texas AM Investment Management Co. now owns 800 shares of the company’s stock worth $90,000 after purchasing an additional 531 shares in the last quarter. Pictet Asset Management Holding SA raised its stake in Constellation Brands by 28.2% in the 3rd quarter. Pictet Asset Management Holding SA now owns 75,546 shares of the company’s stock worth $8,541,000 after purchasing an additional 16,638 shares in the last quarter. Alps Advisors Inc. boosted its holdings in Constellation Brands by 6.8% in the 3rd quarter. Alps Advisors Inc. now owns 3,604 shares of the company’s stock valued at $407,000 after purchasing an additional 230 shares during the period. Finally, CenterBook Partners LP bought a new stake in Constellation Brands in the 3rd quarter valued at about $650,000. Institutional investors and hedge funds own 77.34% of the company’s stock.

About Constellation Brands

Constellation Brands, Inc is a beverage alcohol company that develops, produces, markets and distributes beer, wine and spirits. Its beer portfolio includes Modelo Especial, Corona Extra, Corona Light, Pacifico and Victoria, while its wine and spirits brands include Robert Mondavi, Kim Crawford, Meiomi, The Prisoner Wine Company, Simi, Ruffino, High West and Casa Noble.

The company’s beer business is primarily focused on the United States, where Constellation markets and distributes several leading Mexican beer brands under license from Grupo Modelo.