Constellation Brands Upgraded by Zacks to Outperform (STZ)
Constellation Brands (NYSE:STZ) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a research report issued on Thursday. The firm currently has a $99.00 price target on the stock. Zacks‘s target price indicates a potential upside of 10.65% from the stock’s previous close.
Zacks’ analyst wrote, “We have upgraded our long-term recommendation on Constellation brands to Outperform following the company’s splendid first-quarter fiscal 2015 results and upbeat guidance for the fiscal. The company’s results were mainly benefited from the acquisition of Crown Imports business during the last fiscal. We remain impressed with Constellation Brand’s consistent focus on brand building and efforts to include new products in its wine and spirits businesses, which are key growth drivers for the stock. Owing to its strategic endeavors, the company is witnessing steady depletion trends and an increasing market share in the U.S. wine and spirits category. Moreover, the company is increasing its distribution points in retail and effectively executing its strategic merchandising initiatives, aimed at bolstering sales.”
In other Constellation Brands news, Director Mark Zupan sold 1,000 shares of Constellation Brands stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $91.43, for a total transaction of $91,430.00. The sale was disclosed in a document filed with the SEC, which is available at this link.
Shares of Constellation Brands (NYSE:STZ) traded up 0.56% during mid-day trading on Thursday, hitting $89.97. 146,315 shares of the company’s stock traded hands. Constellation Brands has a 1-year low of $49.32 and a 1-year high of $94.77. The stock’s 50-day moving average is $86.07 and its 200-day moving average is $81.17. The company has a market cap of $17.329 billion and a P/E ratio of 8.22.
Constellation Brands (NYSE:STZ) last announced its earnings results on Wednesday, July 2nd. The company reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.14. The company had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.41 billion. During the same quarter in the previous year, the company posted $0.38 earnings per share. The company’s revenue for the quarter was up 126.7% on a year-over-year basis. On average, analysts predict that Constellation Brands will post $4.24 earnings per share for the current fiscal year.
A number of other firms have also recently commented on STZ. Analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Constellation Brands in a research note on Thursday, July 3rd. They now have a $95.00 price target on the stock, up previously from $82.00. Separately, analysts at Citigroup Inc. reiterated a “neutral” rating on shares of Constellation Brands in a research note on Thursday, July 3rd. They now have a $100.00 price target on the stock, up previously from $93.00. Finally, analysts at Stifel Nicolaus raised their price target on shares of Constellation Brands from $90.00 to $113.00 in a research note on Thursday, July 3rd. They now have a “buy” rating on the stock. Two analysts have rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the stock. Constellation Brands currently has a consensus rating of “Hold” and a consensus target price of $92.22.
Constellation Brands, Inc is a producer and marketer of beer, wine and spirits with operations in the United States, Canada, Mexico, New Zealand and Italy.
To view Zacks’ full report, visit Zacks’ official website.
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