Ambev (NYSE:ABEV) Price Target Lowered to $2.50 at Barclays

Ambev (NYSE:ABEV) had its price target reduced by stock analysts at Barclays from $3.00 to $2.50 in a research report issued on Thursday, Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s target price would suggest a potential upside of 6.84% from the stock’s previous close.

Several other analysts have also commented on the company. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of Ambev in a report on Friday, March 1st. StockNews.com assumed coverage on Ambev in a report on Friday, January 26th. They set a “buy” rating on the stock. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Ambev presently has an average rating of “Moderate Buy” and a consensus target price of $3.03.

Ambev Stock Performance

Shares of ABEV stock traded down $0.03 during mid-day trading on Thursday, reaching $2.34. The stock had a trading volume of 4,155,926 shares, compared to its average volume of 11,689,070. The business’s fifty day moving average is $2.43 and its 200-day moving average is $2.62. The company has a current ratio of 0.89, a quick ratio of 0.66 and a debt-to-equity ratio of 0.03. The firm has a market cap of $36.86 billion, a price-to-earnings ratio of 13.00, a PEG ratio of 2.46 and a beta of 1.07. Ambev has a 1-year low of $2.23 and a 1-year high of $3.23.

Ambev (NYSE:ABEV) last posted its earnings results on Thursday, February 29th. The company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.05 by $0.01. The firm had revenue of $4.04 billion for the quarter. Ambev had a return on equity of 17.60% and a net margin of 18.19%. On average, research analysts forecast that Ambev will post 0.19 earnings per share for the current year.

Hedge Funds Weigh In On Ambev

A number of hedge funds have recently bought and sold shares of ABEV. Radnor Capital Management LLC purchased a new position in Ambev during the first quarter worth approximately $25,000. Coldstream Capital Management Inc. purchased a new position in shares of Ambev in the third quarter valued at approximately $26,000. Ieq Capital LLC purchased a new position in shares of Ambev in the third quarter valued at approximately $27,000. IPG Investment Advisors LLC purchased a new position in shares of Ambev in the fourth quarter valued at approximately $30,000. Finally, HighPoint Advisor Group LLC purchased a new position in shares of Ambev in the fourth quarter valued at approximately $31,000. Hedge funds and other institutional investors own 8.13% of the company’s stock.

Ambev Company Profile

Ambev SA, through its subsidiaries, engages in the production, distribution, and sale of beer, draft beer, carbonated soft drinks, other non-alcoholic beverages, malt, and food products. It offers beer primarily under the Skol, Brahma, Antarctica, Brahva, Budweiser, Bud Light, Beck, Leffe and Hoegaarden, Bucanero, Cristal, Mayabe, Presidente, Presidente Light, Brahma Light, Bohemia, The One, Corona, Modelo Especial, Stella Artois, Quilmes Clásica, Paceña, Taquiña, Huari, Becker, Cusqueña, Michelob Ultra, Busch, Pilsen, Ouro Fino, Banks, Deputy, Patricia, Labatt Blue, Alexander Keith's, and Kokanee brands.