Oatly Group (NASDAQ:OTLY) Raised to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Oatly Group (NASDAQ:OTLYGet Rating) from a sell rating to a hold rating in a report issued on Wednesday, Zacks.com reports.

According to Zacks, “Oatly Group AB is an oat drink company. Oatly Group AB is headquartered in Malmö, Sweden. “

A number of other equities analysts have also weighed in on the company. Royal Bank of Canada decreased their target price on Oatly Group from $20.00 to $14.00 and set an outperform rating for the company in a research report on Friday, March 11th. Guggenheim cut their price target on Oatly Group from $21.00 to $14.00 and set a buy rating for the company in a research note on Thursday, March 10th. Mizuho cut their price objective on Oatly Group from $6.00 to $4.00 in a research note on Tuesday, May 3rd. Citigroup cut their price objective on Oatly Group from $11.00 to $10.00 in a research note on Thursday, May 5th. Finally, Morgan Stanley cut their price objective on Oatly Group from $12.00 to $11.00 and set an overweight rating for the company in a research note on Thursday, March 10th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of Buy and an average target price of 14.37.

Shares of NASDAQ:OTLY opened at 3.71 on Wednesday. Oatly Group has a fifty-two week low of 2.75 and a fifty-two week high of 29.00. The business has a 50-day simple moving average of 4.47 and a two-hundred day simple moving average of 7.08. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.77 and a quick ratio of 2.36.

Oatly Group (NASDAQ:OTLYGet Rating) last issued its earnings results on Wednesday, May 4th. The company reported -0.15 earnings per share for the quarter, missing analysts’ consensus estimates of -0.13 by -0.02. Oatly Group had a negative return on equity of 20.87% and a negative net margin of 39.96%. The business had revenue of 166.19 million during the quarter, compared to analysts’ expectations of 160.98 million. During the same period last year, the firm posted ($0.07) EPS. Oatly Group’s quarterly revenue was up 18.7% compared to the same quarter last year. Research analysts expect that Oatly Group will post -0.51 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of OTLY. Invesco Ltd. raised its holdings in shares of Oatly Group by 65.8% during the 4th quarter. Invesco Ltd. now owns 8,309,010 shares of the company’s stock worth $66,139,000 after acquiring an additional 3,297,510 shares in the last quarter. Norges Bank purchased a new stake in Oatly Group during the 4th quarter valued at $19,724,000. Renaissance Technologies LLC purchased a new stake in Oatly Group during the 1st quarter valued at $8,263,000. Bank of America Corp DE raised its holdings in Oatly Group by 457.1% during the 4th quarter. Bank of America Corp DE now owns 1,900,226 shares of the company’s stock valued at $15,126,000 after buying an additional 1,559,123 shares during the period. Finally, Deutsche Bank AG raised its holdings in Oatly Group by 61.4% during the 4th quarter. Deutsche Bank AG now owns 4,035,766 shares of the company’s stock valued at $32,125,000 after buying an additional 1,535,660 shares during the period. 21.07% of the stock is currently owned by institutional investors and hedge funds.

Oatly Group Company Profile (Get Rating)

Oatly Group AB, an oatmilk company, provides a range of plant-based dairy products made from oats in Sweden. It offers Barista edition oatmilk, oatgurts, frozen desserts, ice-creams, and yogurts; ready-to-go drinks, such as cold brew latte, mocha latte, matcha latte, and mini oat drink in original and chocolate flavors; and cooking products, including Cooking Cream, in regular and organic, Crème Fraiche, Whipping Cream, Vanilla Custard and Spreads in a variety of flavors.

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