Ambev (NYSE:ABEV) Price Target Cut to $2.00 by Analysts at Barclays

Ambev (NYSE:ABEV) had its price objective dropped by research analysts at Barclays from $2.50 to $2.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Barclays‘s price objective points to a potential upside of 12.04% from the company’s previous close.

Several other equities research analysts also recently weighed in on ABEV. StockNews.com assumed coverage on shares of Ambev in a research note on Sunday. They set a “buy” rating on the stock. Bank of America downgraded shares of Ambev from a “buy” rating to a “neutral” rating in a research note on Friday. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $2.45.

Ambev Price Performance

Ambev stock opened at $1.79 on Tuesday. The company’s 50 day simple moving average is $2.04 and its 200-day simple moving average is $2.19. The company has a market capitalization of $28.12 billion, a price-to-earnings ratio of 9.92, a price-to-earnings-growth ratio of 5.23 and a beta of 1.05. Ambev has a 1 year low of $1.76 and a 1 year high of $2.72. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.89 and a current ratio of 1.20.

Institutional Trading of Ambev

Hedge funds have recently made changes to their positions in the company. Marshall Wace LLP increased its holdings in shares of Ambev by 324.8% in the 2nd quarter. Marshall Wace LLP now owns 8,324,037 shares of the company’s stock valued at $17,064,000 after purchasing an additional 6,364,592 shares in the last quarter. Kiltearn Partners LLP increased its holdings in shares of Ambev by 43.3% in the 2nd quarter. Kiltearn Partners LLP now owns 14,575,900 shares of the company’s stock valued at $29,881,000 after purchasing an additional 4,407,800 shares in the last quarter. Private Management Group Inc. increased its holdings in Ambev by 43.8% during the 3rd quarter. Private Management Group Inc. now owns 13,428,352 shares of the company’s stock valued at $32,765,000 after acquiring an additional 4,087,442 shares in the last quarter. Altrius Capital Management Inc purchased a new position in Ambev during the 3rd quarter valued at about $8,630,000. Finally, Allspring Global Investments Holdings LLC increased its holdings in Ambev by 33.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 13,236,234 shares of the company’s stock valued at $32,296,000 after acquiring an additional 3,322,952 shares in the last quarter. Institutional investors and hedge funds own 8.13% of the company’s stock.

Ambev Company Profile

Ambev SA, through its subsidiaries, engages in the production, distribution, and sale of beer, draft beer, carbonated soft drinks, malt and food, other alcoholic beverages, and non-alcoholic and non-carbonated products in Brazil, Central America and Caribbean, Latin America South, and Canada. It offers beer primarily under the Skol, Brahma, Antarctica, Brahva, Budweiser, Bud Light, Beck, Leffe, Hoegaarden, Balboa ICE, Balboa, Atlas Golden Light, Atlas, 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, Bud 66, Banks, Deputy, Patricia, Labatt Blue, Alexander Keith’s, and Kokanee brands.