Treasury Wine Estates (OTCMKTS:TSRYY) Shares Gap Up – Time to Buy?

Treasury Wine Estates Ltd. (OTCMKTS:TSRYY) gapped up before the market opened on Thursday . The stock had previously closed at $2.91, but opened at $3.27. Treasury Wine Estates shares last traded at $3.33, with a volume of 6,015 shares traded.

Wall Street Analyst Weigh In

Several analysts recently issued reports on TSRYY shares. UBS Group lowered shares of Treasury Wine Estates from a “hold” rating to a “strong sell” rating in a research report on Friday, February 6th. Citigroup raised Treasury Wine Estates from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 21st. Three equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and an average target price of $5.20.

Treasury Wine Estates Price Performance

The business’s 50-day simple moving average is $2.89 and its two-hundred day simple moving average is $3.25.

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.