Constellation Brands (NYSE:STZ) Price Target Cut to $195.00 by Analysts at Needham & Company LLC

Constellation Brands (NYSE:STZ - Get Free Report) had its price objective reduced by analysts at Needham & Company LLC from $215.00 to $195.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a "buy" rating on the stock. Needham & Company LLC's target price would indicate a potential upside of 18.63% from the company's current price.

A number of other analysts have also recently weighed in on STZ. Barclays increased their price objective on shares of Constellation Brands from $203.00 to $207.00 and gave the stock an "overweight" rating in a report on Monday, April 14th. Piper Sandler raised their price target on shares of Constellation Brands from $165.00 to $170.00 and gave the company a "neutral" rating in a research note on Friday, June 6th. CJS Securities reduced their price objective on Constellation Brands from $196.00 to $194.00 in a research report on Monday, May 19th. Wall Street Zen upgraded Constellation Brands from a "sell" rating to a "hold" rating in a research report on Tuesday, May 20th. Finally, Truist Financial upgraded Constellation Brands from a "hold" rating to a "buy" rating and boosted their price target for the stock from $190.00 to $215.00 in a research report on Wednesday, May 7th. Eleven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, Constellation Brands presently has a consensus rating of "Moderate Buy" and a consensus target price of $215.00.

Constellation Brands Stock Performance

Shares of STZ opened at $164.38 on Wednesday. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.92 and a quick ratio of 0.56. Constellation Brands has a 12-month low of $159.35 and a 12-month high of $265.69. The business's fifty day moving average price is $180.28 and its 200 day moving average price is $187.27. The stock has a market capitalization of $29.26 billion, a PE ratio of -322.32, a price-to-earnings-growth ratio of 9.01 and a beta of 0.70.

Constellation Brands (NYSE:STZ - Get Free Report) last announced its quarterly earnings data on Wednesday, April 9th. The company reported $2.63 earnings per share for the quarter, beating analysts' consensus estimates of $2.28 by $0.35. The business had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.14 billion. Constellation Brands had a negative net margin of 0.74% and a positive return on equity of 29.56%. The company's revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.26 EPS. Equities research analysts forecast that Constellation Brands will post 13.5 EPS for the current year.

Insider Buying and Selling

In other news, EVP Samuel J. Glaetzer sold 3,150 shares of the company's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $188.54, for a total value of $593,901.00. Following the transaction, the executive vice president now directly owns 3,126 shares of the company's stock, valued at approximately $589,376.04. This represents a 50.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 12.45% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Mainstream Capital Management LLC acquired a new stake in shares of Constellation Brands during the 4th quarter valued at about $25,000. SBI Securities Co. Ltd. bought a new position in Constellation Brands during the fourth quarter valued at approximately $26,000. Union Bancaire Privee UBP SA acquired a new stake in Constellation Brands in the fourth quarter valued at approximately $28,000. Minot DeBlois Advisors LLC bought a new stake in Constellation Brands in the fourth quarter worth approximately $29,000. Finally, Optiver Holding B.V. acquired a new position in shares of Constellation Brands during the 4th quarter worth $31,000. Hedge funds and other institutional investors own 77.34% of the company's stock.

Constellation Brands Company Profile

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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