Brokerages Set Ambev S.A. (NYSE:ABEV) Price Target at $3.20

Ambev S.A. (NYSE:ABEV) has been assigned an average rating of “Hold” from the seven ratings firms that are presently covering the firm, Marketbeat.com reports. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $3.20.

A number of equities analysts recently weighed in on ABEV shares. Morgan Stanley upgraded shares of Ambev from an “underweight” rating to an “equal weight” rating in a research report on Friday, December 8th. Citigroup started coverage on shares of Ambev in a research report on Thursday, December 7th. They set a “buy” rating on the stock. JPMorgan Chase & Co. restated a “neutral” rating on shares of Ambev in a research report on Friday, March 1st. Barclays lowered shares of Ambev from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $3.50 to $3.00 in a research report on Monday, March 4th. Finally, StockNews.com assumed coverage on shares of Ambev in a research note on Friday, January 26th. They set a “buy” rating on the stock.

Ambev Price Performance

Shares of NYSE ABEV opened at $2.48 on Tuesday. The company’s 50-day simple moving average is $2.57 and its 200-day simple moving average is $2.66. Ambev has a 52-week low of $2.42 and a 52-week high of $3.23. The firm has a market cap of $39.06 billion, a price-to-earnings ratio of 13.78, a price-to-earnings-growth ratio of 2.52 and a beta of 1.08. The company has a quick ratio of 0.66, a current ratio of 0.89 and a debt-to-equity ratio of 0.03.

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

Institutional Investors Weigh In On Ambev

A number of institutional investors and hedge funds have recently made changes to their positions in ABEV. Perennial Advisors LLC purchased a new stake in shares of Ambev in the 3rd quarter valued at approximately $26,000. Coldstream Capital Management Inc. purchased a new stake in shares of Ambev in the 3rd quarter valued at approximately $26,000. Integrated Wealth Concepts LLC purchased a new stake in shares of Ambev in the 3rd quarter valued at approximately $26,000. Ieq Capital LLC purchased a new stake in shares of Ambev in the 3rd quarter valued at approximately $27,000. Finally, Brown Brothers Harriman & Co. grew its holdings in shares of Ambev by 117.5% in the first quarter. Brown Brothers Harriman & Co. now owns 8,233 shares of the company’s stock valued at $27,000 after purchasing an additional 4,448 shares in the last quarter. 8.13% of the stock is owned by hedge funds and other institutional investors.

About Ambev

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.