Constellation Brands (NYSE:STZ) Price Target Cut to $160.00 by Analysts at Morgan Stanley

Key Points

• Morgan Stanley has reduced the price target for Constellation Brands from $176.00 to $160.00, indicating a potential upside of 12.87% based on the stock's current price.
• Constellation Brands reported earnings of $3.63 per share for the last quarter, surpassing estimates of $3.37, but revenue saw a year-over-year decline of 15%.
• Thirteen analysts have assigned a Buy rating to Constellation Brands, while the average consensus target price among analysts stands at $187.72.

Constellation Brands (NYSE:STZ - Get Free Report) had its price objective cut by analysts at Morgan Stanley from $176.00 to $160.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has an "equal weight" rating on the stock. Morgan Stanley's price objective suggests a potential upside of 12.87% from the company's current price.

STZ has been the subject of a number of other research reports. The Goldman Sachs Group decreased their price target on Constellation Brands from $196.00 to $168.00 and set a "buy" rating for the company in a report on Thursday, October 2nd. Citigroup decreased their price target on Constellation Brands from $155.00 to $145.00 and set a "neutral" rating for the company in a report on Tuesday, September 23rd. Needham & Company LLC decreased their price target on Constellation Brands from $200.00 to $180.00 and set a "buy" rating for the company in a report on Wednesday, September 3rd. Cowen restated a "hold" rating on shares of Constellation Brands in a report on Monday, July 7th. Finally, JPMorgan Chase & Co. upped their price target on Constellation Brands from $170.00 to $182.00 and gave the stock a "neutral" rating in a report on Thursday, July 3rd. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nine have given a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $187.72.

Constellation Brands Trading Up 2.2%

Shares of NYSE:STZ traded up $3.05 during trading on Tuesday, reaching $141.76. 2,228,156 shares of the stock were exchanged, compared to its average volume of 2,500,171. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.68 and a current ratio of 1.07. Constellation Brands has a 12-month low of $131.20 and a 12-month high of $247.63. The firm has a market cap of $24.99 billion, a price-to-earnings ratio of -59.30, a price-to-earnings-growth ratio of 0.43 and a beta of 0.66. The firm's 50-day moving average price is $153.05 and its 200 day moving average price is $169.08.

Constellation Brands (NYSE:STZ - Get Free Report) last issued its earnings results on Monday, October 6th. The company reported $3.63 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.37 by $0.26. The business had revenue of $2.48 billion during the quarter, compared to analysts' expectations of $2.68 billion. Constellation Brands had a positive return on equity of 31.41% and a negative net margin of 4.11%.The company's revenue for the quarter was down 15.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.32 EPS. On average, sell-side analysts anticipate that Constellation Brands will post 13.5 earnings per share for the current fiscal year.

Insider Activity

In other Constellation Brands news, EVP James O. Bourdeau sold 821 shares of the company's stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $169.00, for a total value of $138,749.00. Following the transaction, the executive vice president directly owned 9,438 shares of the company's stock, valued at $1,595,022. This represents a 8.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 12.45% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Constellation Brands

Several institutional investors and hedge funds have recently made changes to their positions in STZ. Laurel Wealth Advisors LLC acquired a new stake in shares of Constellation Brands during the 1st quarter valued at approximately $32,000. Rakuten Securities Inc. raised its position in shares of Constellation Brands by 805.0% during the 1st quarter. Rakuten Securities Inc. now owns 181 shares of the company's stock valued at $33,000 after acquiring an additional 161 shares in the last quarter. Zions Bancorporation National Association UT acquired a new stake in shares of Constellation Brands during the 1st quarter valued at approximately $38,000. Flaharty Asset Management LLC acquired a new stake in shares of Constellation Brands during the 1st quarter valued at approximately $39,000. Finally, Hoey Investments Inc. acquired a new stake in shares of Constellation Brands during the 2nd quarter valued at approximately $40,000. 77.34% of the stock is owned by institutional investors and hedge funds.

About Constellation Brands

Constellation Brands, Inc, together with its subsidiaries, produces, imports, markets, and sells beer, wine, and spirits in the United States, Canada, Mexico, New Zealand, and Italy. The company provides beer primarily under the Corona Extra, Corona Familiar, Corona Hard Seltzer, Corona Light, Corona Non-Alcoholic, Corona Premier, Corona Refresca, Modelo Especial, Modelo Chelada, Modelo Negra, Modelo Oro, Victoria, Vicky Chamoy, and Pacifico brands.

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