Sanford C. Bernstein Issues Pessimistic Forecast for Constellation Brands (NYSE:STZ) Stock Price

Constellation Brands (NYSE:STZ) had its price objective lowered by equities research analysts at Sanford C. Bernstein from $197.00 to $180.00 in a note issued to investors on Monday, MarketBeat reports. The brokerage currently has an “outperform” rating on the stock. Sanford C. Bernstein’s target price suggests a potential upside of 59.70% from the stock’s previous close.

A number of other research analysts also recently issued reports on the stock. Needham & Company LLC restated a “buy” rating and issued a $185.00 price target on shares of Constellation Brands in a research report on Thursday, July 2nd. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $185.00 price objective on shares of Constellation Brands in a research report on Thursday, July 2nd. Evercore set a $160.00 price objective on shares of Constellation Brands in a research note on Monday, September 21st. JPMorgan Chase & Co. cut their target price on shares of Constellation Brands from $165.00 to $133.00 and set a “neutral” rating on the stock in a report on Friday, September 25th. Finally, Bank of America cut their target price on shares of Constellation Brands from $152.00 to $145.00 and set an “underperform” rating on the stock in a report on Thursday, July 2nd. Twelve equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $159.33.

Constellation Brands Price Performance

Shares of NYSE STZ opened at $112.71 on Monday. The company has a current ratio of 0.91, a quick ratio of 0.48 and a debt-to-equity ratio of 1.06. The company has a market capitalization of $19.25 billion, a price-to-earnings ratio of 10.75, a price-to-earnings-growth ratio of 2.24 and a beta of 0.41. Constellation Brands has a twelve month low of $111.54 and a twelve month high of $168.60. The business has a 50 day simple moving average of $128.00 and a 200-day simple moving average of $139.95.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings data on Tuesday, June 30th. The company reported $3.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.70 by ($0.27). The firm had revenue of $2.43 billion for the quarter, compared to the consensus estimate of $2.39 billion. Constellation Brands had a return on equity of 25.58% and a net margin of 18.87%.The business’s revenue for the quarter was down 3.3% compared to the same quarter last year. During the same quarter last year, the business earned $3.22 earnings per share. As a group, equities research analysts expect that Constellation Brands will post 11.81 earnings per share for the current year.

Hedge Funds Weigh In On Constellation Brands

Hedge funds and other institutional investors have recently modified their holdings of the company. MV Capital Management Inc. acquired a new stake in shares of Constellation Brands in the 4th quarter worth about $26,000. Cedar Mountain Advisors LLC acquired a new position in Constellation Brands during the 1st quarter valued at about $33,000. Root Financial Partners LLC boosted its stake in Constellation Brands by 231.3% during the 1st quarter. Root Financial Partners LLC now owns 222 shares of the company’s stock valued at $33,000 after purchasing an additional 155 shares during the period. Continuum Advisory LLC bought a new position in Constellation Brands in the 2nd quarter worth about $33,000. Finally, Ascentis Independent Advisors bought a new position in Constellation Brands in the 1st quarter worth about $37,000. 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, markets and distributes beer, wine and spirits. Its portfolio includes well-known beer brands such as Modelo Especial, Corona Extra, Corona Light and Pacifico, along with wine brands including Robert Mondavi, Kim Crawford, Meiomi, The Prisoner Wine Company and Ruffino.

The company also offers spirits through brands such as Casa Noble tequila and High West whiskey. Constellation’s products are sold through retailers, distributors, restaurants and other on-premise locations, with a primary focus on the United States.