Constellation Brands (NYSE:STZ) Rating Increased to Buy at Argus

Constellation Brands (NYSE:STZ) was upgraded by equities research analysts at Argus from a “hold” rating to a “buy” rating in a research note issued on Monday, Marketbeat.com reports. The brokerage presently has a $306.00 price target on the stock. Argus’ price target indicates a potential upside of 18.71% from the company’s previous close.

Several other equities research analysts also recently weighed in on STZ. Roth Mkm reiterated a “buy” rating and set a $305.00 target price on shares of Constellation Brands in a research note on Friday, April 12th. Piper Sandler began coverage on shares of Constellation Brands in a research note on Friday, March 22nd. They set an “overweight” rating and a $300.00 target price for the company. TheStreet downgraded shares of Constellation Brands from a “b” rating to a “c+” rating in a research note on Friday, January 5th. Barclays decreased their target price on shares of Constellation Brands from $296.00 to $294.00 and set an “overweight” rating for the company in a research note on Friday, April 5th. Finally, Jefferies Financial Group increased their target price on shares of Constellation Brands from $292.00 to $314.00 and gave the stock a “buy” rating in a research note on Friday, April 12th. Three analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $298.55.

Constellation Brands Stock Performance

NYSE STZ opened at $257.78 on Monday. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.19 and a quick ratio of 0.53. Constellation Brands has a 1 year low of $221.81 and a 1 year high of $274.87. The company has a market capitalization of $47.13 billion, a PE ratio of 27.48, a P/E/G ratio of 1.78 and a beta of 0.97. The company has a fifty day moving average of $257.25 and a two-hundred day moving average of $247.05.

Constellation Brands (NYSE:STZ) last released its quarterly earnings data on Thursday, April 11th. The company reported $2.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.10 by $0.16. Constellation Brands had a net margin of 16.13% and a return on equity of 23.06%. The company had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.09 billion. During the same quarter in the prior year, the firm posted $1.98 earnings per share. Constellation Brands’s revenue for the quarter was up 7.1% on a year-over-year basis. As a group, analysts expect that Constellation Brands will post 13.43 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Toth Financial Advisory Corp increased its stake in shares of Constellation Brands by 8.3% during the 1st quarter. Toth Financial Advisory Corp now owns 17,446 shares of the company’s stock worth $4,741,000 after purchasing an additional 1,336 shares in the last quarter. Occidental Asset Management LLC increased its stake in shares of Constellation Brands by 7.7% during the 1st quarter. Occidental Asset Management LLC now owns 11,242 shares of the company’s stock worth $3,055,000 after purchasing an additional 801 shares in the last quarter. Independence Bank of Kentucky increased its stake in shares of Constellation Brands by 31.9% during the 1st quarter. Independence Bank of Kentucky now owns 1,934 shares of the company’s stock worth $526,000 after purchasing an additional 468 shares in the last quarter. Pinnacle Bancorp Inc. purchased a new position in shares of Constellation Brands during the 1st quarter worth approximately $52,000. Finally, Register Financial Advisors LLC purchased a new position in shares of Constellation Brands during the 1st quarter worth approximately $115,000. 77.34% of the stock is owned by hedge funds and other institutional investors.

Constellation Brands Company Profile

Constellation Brands, Inc, together with its subsidiaries, produces, imports, markets, and sells beer, wine, and spirits in the United States, Canada, Mexico, New Zealand, and Italy. The company provides beer primarily under the Corona Extra, Corona Premier, Corona Familiar, Corona Light, Corona Refresca, Corona Hard Seltzer, Modelo Especial, Modelo Negra, Modelo Chelada, Victoria, Vicky Chamoy, and Pacifico brands.