Royal Bank Of Canada Reaffirms Outperform Rating for Constellation Brands (NYSE:STZ)

Constellation Brands (NYSE:STZ)‘s stock had its “outperform” rating reaffirmed by equities research analysts at Royal Bank Of Canada in a note issued to investors on Friday, Marketbeat reports. They presently have a $185.00 target price on the stock. Royal Bank Of Canada’s price objective suggests a potential upside of 63.71% from the company’s current price.

Other equities research analysts also recently issued research reports about the company. Wells Fargo & Company lowered their price objective on Constellation Brands from $185.00 to $170.00 and set an “overweight” rating for the company in a research report on Monday, June 29th. Citigroup reduced their price objective on Constellation Brands from $185.00 to $165.00 and set a “buy” rating on the stock in a research note on Tuesday, September 22nd. Jefferies Financial Group reduced their price objective on Constellation Brands from $147.00 to $135.00 and set a “hold” rating on the stock in a research note on Monday, September 14th. Morgan Stanley cut their price target on Constellation Brands from $183.00 to $158.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 2nd. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Constellation Brands in a research note on Friday, July 31st. Eleven analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Constellation Brands currently has an average rating of “Hold” and a consensus price target of $158.90.

Constellation Brands Price Performance

Constellation Brands stock traded up $0.01 during mid-day trading on Friday, hitting $113.00. 1,521,960 shares of the company were exchanged, compared to its average volume of 2,218,873. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.91 and a quick ratio of 0.48. The business’s 50 day simple moving average is $126.96 and its two-hundred day simple moving average is $139.25. The company has a market capitalization of $19.30 billion, a P/E ratio of 10.78, a PEG ratio of 2.24 and a beta of 0.44. Constellation Brands has a 12-month low of $111.54 and a 12-month high of $168.60.

Constellation Brands (NYSE:STZ) last released its quarterly earnings results on Tuesday, June 30th. The company reported $3.43 earnings per share for the quarter, missing the consensus estimate of $3.70 by ($0.27). The company had revenue of $2.43 billion for the quarter, compared to analysts’ expectations of $2.39 billion. Constellation Brands had a return on equity of 25.58% and a net margin of 18.87%.The business’s quarterly revenue was down 3.3% on a year-over-year basis. During the same period in the previous year, the business posted $3.22 EPS. Analysts forecast that Constellation Brands will post 11.81 earnings per share for the current fiscal year.

Institutional Trading of Constellation Brands

Several institutional investors and hedge funds have recently bought and sold shares of STZ. Capital International Investors raised its stake in Constellation Brands by 48.5% during the fourth quarter. Capital International Investors now owns 6,442,600 shares of the company’s stock valued at $888,930,000 after buying an additional 2,105,546 shares in the last quarter. Nykredit A S acquired a new stake in Constellation Brands during the second quarter valued at approximately $83,687,000. Capital World Investors grew its holdings in shares of Constellation Brands by 8.3% during the fourth quarter. Capital World Investors now owns 7,238,575 shares of the company’s stock valued at $998,740,000 after purchasing an additional 553,974 shares during the last quarter. Van ECK Associates Corp grew its holdings in shares of Constellation Brands by 11.0% during the fourth quarter. Van ECK Associates Corp now owns 2,397,275 shares of the company’s stock valued at $330,728,000 after purchasing an additional 237,073 shares during the last quarter. Finally, Diamond Hill Capital Management LLC Investment Advisor bought a new position in shares of Constellation Brands during the second quarter valued at approximately $31,582,000. Institutional investors and hedge funds own 77.34% of the company’s stock.

Constellation Brands Company Profile

Constellation Brands, Inc is a beverage alcohol company that develops, markets and distributes beer, wine and spirits. Its portfolio includes well-known beer brands such as Modelo Especial, Corona Extra, Corona Light and Pacifico, along with wine brands including Robert Mondavi, Kim Crawford, Meiomi, The Prisoner Wine Company and Ruffino.

The company also offers spirits through brands such as Casa Noble tequila and High West whiskey. Constellation’s products are sold through retailers, distributors, restaurants and other on-premise locations, with a primary focus on the United States.