Treasury Wine Estates (OTCMKTS:TSRYY) Trading Down 10.6% – Here’s Why

Shares of Treasury Wine Estates Ltd. (OTCMKTS:TSRYY) dropped 10.6% on Wednesday . The stock traded as low as $3.30 and last traded at $3.30. Approximately 31,672 shares traded hands during mid-day trading, a decline of 94% from the average daily volume of 544,145 shares. The stock had previously closed at $3.69.

Wall Street Analysts Forecast Growth

A number of analysts have commented on TSRYY shares. UBS Group downgraded shares of Treasury Wine Estates from a “hold” rating to a “strong sell” rating in a research report on Friday, February 6th. Citigroup downgraded Treasury Wine Estates from a “hold” rating to a “strong sell” rating in a research report on Wednesday, January 14th. Jefferies Financial Group downgraded Treasury Wine Estates from a “strong-buy” rating to a “hold” rating and set a $5.20 price objective on the stock. in a research note on Wednesday, December 17th. Finally, Royal Bank Of Canada lowered Treasury Wine Estates from a “moderate buy” rating to a “hold” rating in a report on Thursday, December 18th. Two research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus target price of $5.20.

Treasury Wine Estates Stock Up 3.0%

The stock has a fifty day moving average of $3.53 and a 200-day moving average of $4.11.

About Treasury Wine Estates

Treasury Wine Estates is a Melbourne‐based global wine company that produces, markets and distributes a broad portfolio of wines. Its portfolio spans premium, luxury and commercial brands, including Penfolds, Beringer, Stags’ Leap Family Vineyards, Wolf Blass, Lindeman’s and Matua. The company sources fruit from a mix of owned vineyards and long-term grower partnerships across key wine regions in Australia, California and New Zealand.

The business was established in 2011 following a demerger from Foster’s Group and traces its heritage back to the founding of Penfolds in 1844.