Treasury Wine Estates (OTCMKTS:TSRYY) Shares Gap Down – What’s Next?

Treasury Wine Estates Ltd. (OTCMKTS:TSRYY)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $3.51, but opened at $3.36. Treasury Wine Estates shares last traded at $3.34, with a volume of 7,594 shares changing hands.

Wall Street Analyst Weigh In

TSRYY has been the subject of several recent analyst reports. UBS Group cut shares of Treasury Wine Estates from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 13th. Jefferies Financial Group downgraded Treasury Wine Estates from a “strong-buy” rating to a “hold” rating and set a $5.20 price objective for the company. in a research report on Wednesday, December 17th. Finally, Royal Bank Of Canada cut Treasury Wine Estates from a “moderate buy” rating to a “hold” rating in a research report on Thursday, December 18th. Four research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $5.20.

Treasury Wine Estates Price Performance

The firm’s 50-day simple moving average is $3.64 and its 200 day simple moving average is $4.40.

Treasury Wine Estates Company Profile

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.