Constellation Brands (NYSE:STZ) Price Target Cut to $168.00 by Analysts at The Goldman Sachs Group

Key Points

• Goldman Sachs has reduced its price target for Constellation Brands from $196.00 to $168.00 while maintaining a "buy" rating, indicating a potential upside of 19.73% from the current stock price.
• Other analysts have also lowered their price targets on Constellation Brands, with TD Cowen setting a target of $152.00 and BNP Paribas Exane at $123.00, reflecting a general trend of caution on the stock's outlook.
• Constellation Brands recently reported earnings per share of $3.22 for the last quarter, missing consensus estimates; this follows a 5.5% decline in revenue compared to the same quarter last year.

Constellation Brands (NYSE:STZ - Get Free Report) had its target price reduced by equities researchers at The Goldman Sachs Group from $196.00 to $168.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a "buy" rating on the stock. The Goldman Sachs Group's price target would indicate a potential upside of 19.73% from the stock's current price.

Several other analysts have also recently issued reports on STZ. TD Cowen dropped their target price on Constellation Brands from $180.00 to $152.00 and set a "hold" rating on the stock in a research report on Thursday, September 4th. BNP Paribas Exane cut Constellation Brands from a "neutral" rating to an "underperform" rating and set a $123.00 target price on the stock. in a research report on Wednesday, September 3rd. Roth Capital reaffirmed a "buy" rating and set a $209.00 target price (down previously from $239.00) on shares of Constellation Brands in a research report on Wednesday, September 3rd. Citigroup dropped their target price on Constellation Brands from $155.00 to $145.00 and set a "neutral" rating on the stock in a research report on Tuesday, September 23rd. Finally, Morgan Stanley dropped their target price on Constellation Brands from $195.00 to $176.00 and set an "equal weight" rating on the stock in a research report on Wednesday, September 3rd. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nine have issued a Hold rating and four have issued a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $190.16.

Constellation Brands Trading Up 1.0%

NYSE:STZ traded up $1.37 during midday trading on Thursday, hitting $140.32. The stock had a trading volume of 1,593,729 shares, compared to its average volume of 2,478,812. Constellation Brands has a one year low of $131.20 and a one year high of $254.88. The company has a market capitalization of $24.74 billion, a price-to-earnings ratio of -58.71, a PEG ratio of 0.40 and a beta of 0.67. The stock has a 50-day moving average of $155.10 and a 200 day moving average of $170.03. The company has a quick ratio of 0.68, a current ratio of 1.07 and a debt-to-equity ratio of 1.30.

Constellation Brands (NYSE:STZ - Get Free Report) last announced its earnings results on Tuesday, July 1st. The company reported $3.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.45 by ($0.23). The company had revenue of $2.52 billion for the quarter, compared to the consensus estimate of $2.57 billion. Constellation Brands had a negative net margin of 4.11% and a positive return on equity of 31.41%. The firm's revenue was down 5.5% compared to the same quarter last year. During the same period last year, the business posted $3.57 EPS. As a group, sell-side analysts forecast that Constellation Brands will post 13.5 EPS for the current year.

Insider Buying and Selling at Constellation Brands

In other Constellation Brands news, EVP James O. Bourdeau sold 821 shares of Constellation Brands stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $169.00, for a total transaction of $138,749.00. Following the completion of the transaction, the executive vice president owned 9,438 shares in the company, valued at approximately $1,595,022. This trade represents a 8.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 12.45% of the company's stock.

Hedge Funds Weigh In On Constellation Brands

Institutional investors have recently modified their holdings of the stock. Laurel Wealth Advisors LLC purchased a new position in shares of Constellation Brands during the 1st quarter valued at about $32,000. Rakuten Securities Inc. raised its stake 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 buying an additional 161 shares during the last quarter. Zions Bancorporation National Association UT purchased a new position in shares of Constellation Brands during the 1st quarter valued at about $38,000. Flaharty Asset Management LLC purchased a new position in shares of Constellation Brands during the 1st quarter valued at about $39,000. Finally, WPG Advisers LLC purchased a new position in shares of Constellation Brands during the 1st quarter valued at about $43,000. Hedge funds and other institutional investors own 77.34% of the company's stock.

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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