AMBEV S A/S (ABEV) Cut to “Underperform” at Bank of America

Bank of America cut shares of AMBEV S A/S (NYSE:ABEV) from a neutral rating to an underperform rating in a research report released on Thursday, MarketBeat.com reports. They currently have $4.00 price objective on the stock, down from their prior price objective of $5.40.

Other equities research analysts have also recently issued reports about the company. ValuEngine upgraded AMBEV S A/S from a sell rating to a hold rating in a research report on Thursday, August 16th. Barclays upgraded AMBEV S A/S from an equal weight rating to an overweight rating and set a $7.00 price target on the stock in a research report on Friday, July 27th. UBS Group cut AMBEV S A/S from a buy rating to a sell rating in a research report on Tuesday, October 2nd. Finally, JPMorgan Chase & Co. cut AMBEV S A/S from a neutral rating to an underweight rating in a research report on Thursday. Four analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. The stock has a consensus rating of Hold and an average price target of $6.13.

AMBEV S A/S stock traded up $0.09 during midday trading on Thursday, reaching $4.13. The stock had a trading volume of 44,344,695 shares, compared to its average volume of 26,836,645. AMBEV S A/S has a 12 month low of $3.86 and a 12 month high of $7.43. The stock has a market capitalization of $70.81 billion, a P/E ratio of 17.96, a P/E/G ratio of 1.32 and a beta of 0.50. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.79 and a current ratio of 0.97.



AMBEV S A/S (NYSE:ABEV) last announced its quarterly earnings results on Thursday, July 26th. The company reported $0.04 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by ($0.01). AMBEV S A/S had a net margin of 16.03% and a return on equity of 24.66%. The company had revenue of $3.21 billion for the quarter, compared to the consensus estimate of $3.11 billion. Equities research analysts forecast that AMBEV S A/S will post 0.21 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the company. Vontobel Asset Management Inc. grew its holdings in shares of AMBEV S A/S by 5.3% during the second quarter. Vontobel Asset Management Inc. now owns 173,943,259 shares of the company’s stock worth $819,935,000 after purchasing an additional 8,727,647 shares in the last quarter. Morningstar Investment Services LLC grew its holdings in shares of AMBEV S A/S by 19.4% during the second quarter. Morningstar Investment Services LLC now owns 137,921 shares of the company’s stock worth $639,000 after purchasing an additional 22,443 shares in the last quarter. HRT Financial LLC purchased a new position in shares of AMBEV S A/S during the second quarter worth about $526,000. Brown Advisory Inc. grew its holdings in shares of AMBEV S A/S by 20,580.3% during the second quarter. Brown Advisory Inc. now owns 2,594,345 shares of the company’s stock worth $12,012,000 after purchasing an additional 2,581,800 shares in the last quarter. Finally, Kiwi Wealth Investments Limited Partnership grew its holdings in shares of AMBEV S A/S by 22.0% during the second quarter. Kiwi Wealth Investments Limited Partnership now owns 593,629 shares of the company’s stock worth $2,749,000 after purchasing an additional 107,158 shares in the last quarter. 7.07% of the stock is owned by institutional investors.

AMBEV S A/S Company Profile

Ambev SA engages in the production, distribution, and sale of beverages. The company products include beer, carbonated soft drinks, and other non-alcoholic and non-carbonated products. Its operates a distribution network that comprises beverage distributors, supermarkets, bars and restaurants, as well as small groceries, bakeries, snack bars and franchises, and points of sale in Brazil.

Featured Article: What is a bull market?

Analyst Recommendations for AMBEV S A/S (NYSE:ABEV)

Receive News & Ratings for AMBEV S A/S Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AMBEV S A/S and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply