Constellation Brands (NYSE:STZ) Raised 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 report issued on Monday, Marketbeat reports. The firm currently has a $306.00 price objective on the stock. Argus’ price objective would indicate a potential upside of 16.69% from the company’s previous close.

Several other brokerages have also commented on STZ. Deutsche Bank Aktiengesellschaft raised their price objective on Constellation Brands from $256.00 to $262.00 and gave the company a “hold” rating in a research report on Wednesday, April 10th. BMO Capital Markets upped their price objective on Constellation Brands from $290.00 to $315.00 and gave the company an “outperform” rating in a research report on Friday. Bank of America lifted their target price on Constellation Brands from $290.00 to $300.00 and gave the stock a “buy” rating in a report on Monday, March 18th. JPMorgan Chase & Co. dropped their price objective on Constellation Brands from $309.00 to $301.00 and set an “overweight” rating on the stock in a research report on Thursday, December 21st. Finally, Barclays reduced their price target 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. Three investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $298.50.

Constellation Brands Stock Performance

NYSE:STZ opened at $262.24 on Monday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.53 and a current ratio of 1.19. Constellation Brands has a fifty-two week low of $221.81 and a fifty-two week high of $274.87. The firm has a market cap of $47.94 billion, a PE ratio of 27.96, a price-to-earnings-growth ratio of 1.78 and a beta of 0.97. The business has a 50 day moving average price of $256.84 and a 200-day moving average price of $246.96.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Thursday, April 11th. The company reported $2.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.10 by $0.16. The business had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.09 billion. Constellation Brands had a net margin of 16.13% and a return on equity of 23.06%. The company’s revenue was up 7.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.98 EPS. Equities research analysts predict that Constellation Brands will post 13.43 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of STZ. Moneta Group Investment Advisors LLC lifted its position in shares of Constellation Brands by 84,839.5% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 3,742,434 shares of the company’s stock valued at $867,309,000 after acquiring an additional 3,738,028 shares in the last quarter. Norges Bank bought a new stake in Constellation Brands during the 4th quarter valued at approximately $443,844,000. Barclays PLC lifted its holdings in Constellation Brands by 102.0% in the 2nd quarter. Barclays PLC now owns 2,937,570 shares of the company’s stock worth $723,027,000 after purchasing an additional 1,483,668 shares in the last quarter. Morgan Stanley lifted its holdings in Constellation Brands by 31.3% in the 4th quarter. Morgan Stanley now owns 3,809,273 shares of the company’s stock worth $882,799,000 after purchasing an additional 908,486 shares in the last quarter. Finally, Darsana Capital Partners LP boosted its stake in Constellation Brands by 288.9% in the 3rd quarter. Darsana Capital Partners LP now owns 875,000 shares of the company’s stock worth $219,914,000 after purchasing an additional 650,000 shares during the period. Institutional investors own 77.34% of the company’s stock.

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.