Constellation Brands (NYSE:STZ) Given New $289.00 Price Target at Royal Bank of Canada

Constellation Brands (NYSE:STZ) had its price target reduced by analysts at Royal Bank of Canada from $293.00 to $289.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s target price points to a potential upside of 54.87% from the company’s previous close.

A number of other brokerages also recently issued reports on STZ. TD Cowen dropped their price target on shares of Constellation Brands from $270.00 to $260.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. Needham & Company LLC reissued a “buy” rating and set a $240.00 price target on shares of Constellation Brands in a report on Monday, January 27th. Evercore ISI cut their price objective on Constellation Brands from $300.00 to $250.00 and set an “outperform” rating for the company in a report on Monday, January 13th. Roth Capital reduced their price target on shares of Constellation Brands from $298.00 to $284.00 and set a “buy” rating for the company in a research report on Friday, January 17th. Finally, Argus downgraded shares of Constellation Brands from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Eleven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $253.24.

Constellation Brands Trading Up 4.3 %

Constellation Brands stock traded up $7.66 during mid-day trading on Friday, reaching $186.61. 1,390,955 shares of the company traded hands, compared to its average volume of 2,980,100. The firm’s 50 day moving average price is $185.00 and its 200 day moving average price is $221.84. Constellation Brands has a 52-week low of $160.46 and a 52-week high of $274.87. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.10 and a quick ratio of 0.46. The firm has a market capitalization of $33.73 billion, a price-to-earnings ratio of 50.18, a P/E/G ratio of 1.52 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings data on Friday, January 10th. The company reported $3.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.08). The firm had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.53 billion. Constellation Brands had a return on equity of 26.55% and a net margin of 6.27%. Constellation Brands’s revenue for the quarter was down .3% compared to the same quarter last year. During the same quarter last year, the company posted $3.19 EPS. On average, analysts anticipate that Constellation Brands will post 13.5 earnings per share for the current fiscal year.

Insider Activity

In related news, Director William T. Giles acquired 1,000 shares of Constellation Brands stock in a transaction that occurred on Friday, January 17th. The stock was purchased at an average price of $186.39 per share, for a total transaction of $186,390.00. Following the completion of the purchase, the director now directly owns 1,463 shares of the company’s stock, valued at approximately $272,688.57. This trade represents a 215.98 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 12.19% of the company’s stock.

Institutional Investors Weigh In On Constellation Brands

Institutional investors and hedge funds have recently made changes to their positions in the business. Mainstream Capital Management LLC purchased a new stake in Constellation Brands in the 4th quarter valued at approximately $25,000. SBI Securities Co. Ltd. purchased a new stake in Constellation Brands during the 4th quarter worth about $26,000. Compagnie Lombard Odier SCmA acquired a new position in Constellation Brands in the 4th quarter valued at about $27,000. Union Bancaire Privee UBP SA acquired a new position in Constellation Brands in the 4th quarter valued at about $28,000. Finally, Minot DeBlois Advisors LLC purchased a new position in Constellation Brands in the 4th quarter valued at about $29,000. 77.34% of the stock is currently owned by hedge funds and other institutional investors.

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 Familiar, Corona Hard Seltzer, Corona Light, Corona Non-Alcoholic, Corona Premier, Corona Refresca, Modelo Especial, Modelo Chelada, Modelo Negra, Modelo Oro, Victoria, Vicky Chamoy, and Pacifico brands.