Ambev (NYSE:ABEV) Raised to Hold at Zacks Research

Key Points

• Ambev has been upgraded by Zacks Research from a "strong sell" to a "hold" rating, indicating a more favorable outlook for the company.
• According to current consensus, Ambev has a target price of $2.35 with seven analysts issuing hold ratings and one sell rating.
• The company's recent quarterly earnings report showed an EPS of $0.03, in line with analyst expectations, and a revenue of $3.59 billion.

Ambev (NYSE:ABEV - Get Free Report) was upgraded by Zacks Research from a "strong sell" rating to a "hold" rating in a research note issued on Tuesday,Zacks.com reports.

Other equities research analysts also recently issued research reports about the company. Hsbc Global Res upgraded Ambev to a "hold" rating in a report on Friday, August 1st. HSBC reaffirmed a "hold" rating on shares of Ambev in a research report on Friday, August 1st. Finally, UBS Group reduced their price target on Ambev from $2.50 to $2.20 and set a "neutral" rating on the stock in a research report on Wednesday, August 20th. Seven research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Reduce" and an average target price of $2.35.

Ambev Trading Down 0.7%

ABEV opened at $2.22 on Tuesday. Ambev has a 52 week low of $1.76 and a 52 week high of $2.63. The business has a fifty day simple moving average of $2.25 and a 200-day simple moving average of $2.36. The firm has a market cap of $34.90 billion, a P/E ratio of 13.84, a P/E/G ratio of 2.31 and a beta of 0.85. The company has a quick ratio of 0.80, a current ratio of 1.11 and a debt-to-equity ratio of 0.02.

Ambev (NYSE:ABEV - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported $0.03 EPS for the quarter, hitting the consensus estimate of $0.03. Ambev had a return on equity of 15.39% and a net margin of 16.18%.The business had revenue of $3.59 billion during the quarter, compared to analyst estimates of $21.84 billion. On average, equities analysts expect that Ambev will post 0.18 earnings per share for the current year.

Institutional Trading of Ambev

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Corient Private Wealth LLC raised its stake in Ambev by 1.7% in the second quarter. Corient Private Wealth LLC now owns 2,927,709 shares of the company's stock valued at $7,056,000 after buying an additional 49,318 shares in the last quarter. Squarepoint Ops LLC increased its position in shares of Ambev by 402.5% during the second quarter. Squarepoint Ops LLC now owns 328,262 shares of the company's stock worth $791,000 after purchasing an additional 262,941 shares in the last quarter. Neuberger Berman Group LLC increased its position in shares of Ambev by 891.3% during the second quarter. Neuberger Berman Group LLC now owns 228,227 shares of the company's stock worth $550,000 after purchasing an additional 205,204 shares in the last quarter. B. Riley Wealth Advisors Inc. acquired a new stake in shares of Ambev during the second quarter worth about $140,000. Finally, Marex Group plc acquired a new stake in shares of Ambev during the second quarter worth about $48,000. 8.13% of the stock is currently owned by institutional investors and hedge funds.

About Ambev

Ambev SA, through its subsidiaries, engages in the production, distribution, and sale of beer, draft beer, carbonated soft drinks, malt and food, other alcoholic beverages, and non-alcoholic and non-carbonated products in Brazil, Central America and Caribbean, Latin America South, and Canada. It offers beer primarily under the Skol, Brahma, Antarctica, Brahva, Budweiser, Bud Light, Beck, Leffe, Hoegaarden, Balboa ICE, Balboa, Atlas Golden Light, Atlas, 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, Bud 66, Banks, Deputy, Patricia, Labatt Blue, Alexander Keith's, and Kokanee brands.

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