Ambev SA (NYSE:ABEV)‘s stock had its “buy” rating reaffirmed by Goldman Sachs Group Inc. in a research report issued to clients and investors on Monday. They currently have a $6.80 price target on the stock. Goldman Sachs Group Inc.’s price target indicates a potential upside of 12.58% from the company’s previous close.
A number of other research analysts also recently commented on ABEV. TheStreet downgraded shares of Ambev SA from a “buy” rating to a “hold” rating in a research report on Thursday, September 29th. Morgan Stanley downgraded shares of Ambev SA from an “overweight” rating to an “equal weight” rating and boosted their price objective for the company from $6.00 to $6.40 in a research report on Thursday, August 18th. They noted that the move was a valuation call. Finally, Zacks Investment Research downgraded shares of Ambev SA from a “buy” rating to a “hold” rating in a research report on Monday, July 4th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Ambev SA has a consensus rating of “Hold” and an average target price of $6.05.
Shares of Ambev SA (NYSE:ABEV) opened at 6.04 on Monday. Ambev SA has a 1-year low of $3.86 and a 1-year high of $6.32. The company’s 50-day moving average is $6.03 and its 200 day moving average is $5.68. The stock has a market cap of $94.82 billion, a P/E ratio of 26.38 and a beta of 0.82.
A number of hedge funds have recently bought and sold shares of ABEV. Park National Corp OH acquired a new stake in Ambev SA during the third quarter valued at approximately $119,000. Commonwealth Equity Services Inc increased its stake in Ambev SA by 69.6% in the second quarter. Commonwealth Equity Services Inc now owns 23,647 shares of the company’s stock valued at $140,000 after buying an additional 9,704 shares in the last quarter. CIBC World Markets Inc. increased its stake in Ambev SA by 144.7% in the first quarter. CIBC World Markets Inc. now owns 31,630 shares of the company’s stock valued at $164,000 after buying an additional 18,704 shares in the last quarter. Global X Management Co. LLC increased its stake in Ambev SA by 13.3% in the second quarter. Global X Management Co. LLC now owns 32,804 shares of the company’s stock valued at $194,000 after buying an additional 3,846 shares in the last quarter. Finally, Ingalls & Snyder LLC acquired a new stake in Ambev SA during the second quarter valued at approximately $197,000. 7.22% of the stock is owned by institutional investors.
Ambev SA Company Profile
Ambev SA, formerly Inbev Participacoes Societarias SA, is a Brazil-based company engaged in the brewing sector. The Company produces and sells beer, carbonated soft drinks (CSDs) and other non-alcoholic and non-carbonated (NANC) beverages across the Americas. The Company’s activities are divided into three segments: Latin America North, including sell of beer, CSD and NANC drinks in Brazil, as well as operations in Dominican Republic, Saint Vincent, Antigua, Dominica, Guatemala, El Salvador, Nicaragua and Cuba; Latin America South, distributing products in Argentina, Bolivia, Paraguay, Uruguay, Chile, Ecuador, Peru and Colombia, and Canada, represented by Labatt’s operations, which comprises sales in Canada.
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