Constellation Brands’ (STZ) Outperform Rating Reaffirmed at Royal Bank Of Canada

Constellation Brands (NYSE:STZ)‘s stock had its “outperform” rating restated by research analysts at Royal Bank Of Canada in a research note issued to investors on Friday, MarketBeat.com reports. They currently have a $185.00 price objective on the stock. Royal Bank Of Canada’s target price points to a potential upside of 63.30% from the company’s previous close.

Other analysts also recently issued reports about the stock. Barclays dropped their price target on shares of Constellation Brands from $132.00 to $122.00 and set an “equal weight” rating on the stock in a research report on Tuesday, September 22nd. TD Cowen dropped their target price on shares of Constellation Brands from $174.00 to $150.00 and set a “buy” rating on the stock in a report on Thursday, September 17th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Constellation Brands in a report on Friday, July 31st. Wells Fargo & Company dropped their target price on shares of Constellation Brands from $185.00 to $170.00 and set an “overweight” rating on the stock in a report on Monday, June 29th. Finally, Evercore set a $160.00 target price on shares of Constellation Brands in a report on Monday, September 21st. Eleven investment 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. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $157.40.

Constellation Brands Price Performance

Shares of STZ stock traded up $0.42 during midday trading on Friday, reaching $113.29. 2,942,047 shares of the company were exchanged, compared to its average volume of 2,222,682. Constellation Brands has a 12 month low of $110.60 and a 12 month high of $168.60. The company has a market cap of $19.35 billion, a P/E ratio of 10.81, a PEG ratio of 2.24 and a beta of 0.44. The company’s 50 day moving average price is $126.62 and its two-hundred day moving average price is $138.90. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.48 and a current ratio of 0.91.

Institutional Trading of Constellation Brands

A number of hedge funds and other institutional investors have recently made changes to their positions in STZ. HB Wealth Management LLC raised its holdings in shares of Constellation Brands by 0.7% during the first quarter. HB Wealth Management LLC now owns 10,795 shares of the company’s stock valued at $1,619,000 after acquiring an additional 72 shares during the period. Chicago Partners Investment Group LLC raised its holdings in shares of Constellation Brands by 4.3% during the first quarter. Chicago Partners Investment Group LLC now owns 1,888 shares of the company’s stock valued at $296,000 after acquiring an additional 77 shares during the period. Rexford Capital Inc. raised its holdings in shares of Constellation Brands by 4.0% during the first quarter. Rexford Capital Inc. now owns 2,072 shares of the company’s stock valued at $311,000 after acquiring an additional 79 shares during the period. Keybank National Association OH raised its holdings in shares of Constellation Brands by 4.0% during the first quarter. Keybank National Association OH now owns 2,338 shares of the company’s stock valued at $351,000 after acquiring an additional 90 shares during the period. Finally, Banque Cantonale Vaudoise raised its holdings in shares of Constellation Brands by 3.6% during the first quarter. Banque Cantonale Vaudoise now owns 2,643 shares of the company’s stock valued at $397,000 after acquiring an additional 93 shares during the period. 77.34% of the stock is currently owned by institutional investors.

Key Headlines Impacting Constellation Brands

Here are the key news stories impacting Constellation Brands this week:

• Positive Sentiment: Wells Fargo lowered its price target from $170 to $140 but maintained an “overweight” rating, implying substantial upside from current levels. The continued bullish rating could provide some support if earnings meet or exceed expectations. Constellation Brands Price Target Cut to $140 by Wells Fargo
• Positive Sentiment: Coverage ahead of earnings highlights STZ’s dividend yield of roughly 3.6%, which may attract income-focused investors while the valuation is depressed. How to Earn $500 a Month From Constellation Brands Stock
• Neutral Sentiment: Constellation Brands is scheduled to report fiscal second-quarter results after the market close, with consensus EPS estimated at $3.56. Guidance, beer volume trends and margins will likely determine the next major move. Constellation Brands Reports Earnings Tomorrow
• Neutral Sentiment: Royal Bank of Canada reaffirmed its “outperform” rating, offering a counterpoint to the recent share-price weakness and target-price reductions. Constellation Brands Rating Reaffirmed by RBC
• Negative Sentiment: Market commentary warns that STZ may be a “falling knife” after reaching an 11-year low, signaling continued concerns about the company’s near-term operating outlook and the risk of buying before earnings. Constellation Brands Q2 Preview and Falling Knife Warning
• Negative Sentiment: Recent comparisons characterize STZ as a company facing falling revenue and pressure on earnings relative to some consumer-defensive peers. That backdrop raises the stakes for Tuesday’s report and may explain why analysts are trimming targets. Constellation Brands or Lamb Weston Comparison

About Constellation Brands

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.