Ambev (NYSE:ABEV) Downgraded by StockNews.com to Buy

StockNews.com cut shares of Ambev (NYSE:ABEV) from a strong-buy rating to a buy rating in a research note issued to investors on Monday.

Several other research firms have also recently commented on ABEV. Barclays lowered their target price on shares of Ambev from $3.00 to $2.50 and set an equal weight rating on the stock in a research note on Thursday, May 9th. JPMorgan Chase & Co. reissued a neutral rating on shares of Ambev in a report on Friday, March 1st. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of Hold and an average target price of $2.68.

Ambev Stock Performance

Shares of NYSE ABEV opened at $2.11 on Monday. Ambev has a 12-month low of $2.05 and a 12-month high of $3.22. The company has a market cap of $33.16 billion, a PE ratio of 11.08, a P/E/G ratio of 3.10 and a beta of 1.07. The stock has a 50 day simple moving average of $2.26 and a 200-day simple moving average of $2.50. The company has a current ratio of 0.99, a quick ratio of 0.69 and a debt-to-equity ratio of 0.02.

Ambev (NYSE:ABEV) last announced its quarterly earnings results on Wednesday, May 8th. The company reported $0.05 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.05. Ambev had a return on equity of 17.53% and a net margin of 18.25%. The company had revenue of $4.09 billion during the quarter, compared to analyst estimates of $4 billion. On average, equities research analysts forecast that Ambev will post 0.18 EPS for the current year.

Institutional Trading of Ambev

Large investors have recently added to or reduced their stakes in the business. Cetera Advisors LLC purchased a new position in shares of Ambev in the first quarter worth approximately $156,000. Dynasty Wealth Management LLC purchased a new position in Ambev during the first quarter valued at approximately $274,000. Earnest Partners LLC lifted its position in Ambev by 4.8% in the 1st quarter. Earnest Partners LLC now owns 918,448 shares of the company’s stock worth $2,278,000 after buying an additional 41,802 shares in the last quarter. Kiltearn Partners LLP lifted its position in Ambev by 73.3% in the 1st quarter. Kiltearn Partners LLP now owns 10,168,100 shares of the company’s stock worth $24,607,000 after buying an additional 4,300,000 shares in the last quarter. Finally, Heron Bay Capital Management purchased a new position in shares of Ambev during the 1st quarter valued at $48,000. 8.13% of the stock is currently owned by institutional investors.

About Ambev

Ambev SA, through its subsidiaries, engages in the production, distribution, and sale of beer, draft beer, carbonated soft drinks, other non-alcoholic beverages, malt, and food products. It offers beer primarily under the Skol, Brahma, Antarctica, Brahva, Budweiser, Bud Light, Beck, Leffe and Hoegaarden, Bucanero, Cristal, Mayabe, Presidente, Presidente Light, Brahma Light, Bohemia, The One, Corona, Modelo Especial, Stella Artois, Quilmes Clásica, Paceña, Taquiña, Huari, Becker, Cusqueña, Michelob Ultra, Busch, Pilsen, Ouro Fino, Banks, Deputy, Patricia, Labatt Blue, Alexander Keith's, and Kokanee brands.