Zacks Research Downgrades Carlsberg AS (OTCMKTS:CABGY) to Hold

Key Points

• Carlsberg AS has been downgraded by Zacks Research from a "strong-buy" rating to a "hold" rating, reflecting a shift in analyst sentiment regarding the stock's performance.
• HSBC Global Research also downgraded Carlsberg AS to a "hold" rating, aligning with the broader consensus, which includes one "strong-buy," one "buy," three "hold," and one "sell" rating.
• The stock is currently trading at approximately $24.34, down from its 1-year high of $30.22, indicating a potential decline in investor confidence and market performance.

Zacks Research lowered shares of Carlsberg AS (OTCMKTS:CABGY - Free Report) from a strong-buy rating to a hold rating in a research report released on Monday,Zacks.com reports.

Separately, Hsbc Global Res lowered Carlsberg AS from a "strong-buy" rating to a "hold" rating in a report on Wednesday, May 7th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Carlsberg AS presently has an average rating of "Hold".

Carlsberg AS Stock Up 1.2%

Shares of OTCMKTS CABGY traded up $0.28 during mid-day trading on Monday, reaching $24.50. 45,757 shares of the company traded hands, compared to its average volume of 69,228. The company's fifty day moving average is $26.84 and its two-hundred day moving average is $26.58. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.44 and a current ratio of 0.57. Carlsberg AS has a fifty-two week low of $18.21 and a fifty-two week high of $30.22.

About Carlsberg AS

Carlsberg A/S produces and sells beer and other beverage products in Denmark, China, the United Kingdom, and internationally. The company offers core, craft, and specialty beers; soft drinks; and alcohol-free brews under various brands. The company was founded in 1847 and is headquartered in Copenhagen, Denmark.