Barclays Cuts Molson Coors Beverage (NYSE:TAP) Price Target to $48.00

Molson Coors Beverage (NYSE:TAP) had its price target dropped by investment analysts at Barclays from $51.00 to $48.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an “underweight” rating on the stock. Barclays‘s price objective indicates a potential downside of 13.32% from the company’s current price.

Several other research analysts have also weighed in on TAP. TD Cowen reduced their price objective on shares of Molson Coors Beverage from $58.00 to $56.00 and set a “hold” rating on the stock in a research note on Tuesday, October 8th. StockNews.com raised shares of Molson Coors Beverage from a “hold” rating to a “buy” rating in a report on Monday. Wells Fargo & Company raised Molson Coors Beverage from an “underweight” rating to an “overweight” rating and raised their price objective for the stock from $52.00 to $74.00 in a research note on Friday, November 8th. Hsbc Global Res downgraded Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a report on Friday, November 8th. Finally, Bank of America raised Molson Coors Beverage from a “neutral” rating to a “buy” rating and raised their price target for the stock from $57.00 to $70.00 in a research report on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Molson Coors Beverage presently has a consensus rating of “Hold” and a consensus target price of $61.79.

Molson Coors Beverage Trading Up 0.7 %

TAP traded up $0.40 during trading on Friday, reaching $55.38. 432,920 shares of the company’s stock were exchanged, compared to its average volume of 1,701,775. The company’s fifty day moving average price is $59.18 and its 200-day moving average price is $55.85. The firm has a market capitalization of $11.41 billion, a PE ratio of 12.47, a P/E/G ratio of 1.96 and a beta of 0.86. Molson Coors Beverage has a fifty-two week low of $49.19 and a fifty-two week high of $69.18. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.74 and a current ratio of 0.99.

Molson Coors Beverage (NYSE:TAP) last released its quarterly earnings data on Thursday, November 7th. The company reported $1.80 EPS for the quarter, beating analysts’ consensus estimates of $1.67 by $0.13. Molson Coors Beverage had a return on equity of 9.24% and a net margin of 6.78%. The business had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $3.13 billion. During the same quarter in the prior year, the company posted $1.92 earnings per share. The firm’s revenue was down 7.8% on a year-over-year basis. As a group, equities analysts forecast that Molson Coors Beverage will post 5.79 EPS for the current year.

Hedge Funds Weigh In On Molson Coors Beverage

A number of large investors have recently modified their holdings of the business. Altshuler Shaham Ltd acquired a new position in Molson Coors Beverage during the second quarter valued at approximately $27,000. Ashton Thomas Securities LLC acquired a new stake in shares of Molson Coors Beverage in the 3rd quarter valued at approximately $35,000. Gladius Capital Management LP acquired a new position in Molson Coors Beverage during the third quarter worth $42,000. Quarry LP bought a new stake in Molson Coors Beverage during the second quarter worth $54,000. Finally, True Wealth Design LLC acquired a new stake in Molson Coors Beverage in the third quarter valued at $59,000. 78.46% of the stock is currently owned by institutional investors and hedge funds.

Molson Coors Beverage Company Profile

Molson Coors Beverage Company manufactures, markets, and sells beer and other malt beverage products under various brands in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers flavored malt beverages including hard seltzers, craft, spirits and energy, and ready to drink beverages.