Truist Financial Upgrades Constellation Brands (NYSE:STZ) to "Buy"

Constellation Brands (NYSE:STZ - Get Free Report) was upgraded by equities research analysts at Truist Financial from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Wednesday, Marketbeat.com reports. The firm presently has a $215.00 target price on the stock. Truist Financial's price objective suggests a potential upside of 13.15% from the stock's previous close.

Other equities research analysts have also issued reports about the stock. Evercore ISI reduced their target price on shares of Constellation Brands from $300.00 to $250.00 and set an "outperform" rating for the company in a report on Monday, January 13th. TD Cowen dropped their price objective on Constellation Brands from $270.00 to $260.00 and set a "hold" rating for the company in a research note on Wednesday, January 8th. Wells Fargo & Company lowered their price target on Constellation Brands from $230.00 to $210.00 and set an "overweight" rating on the stock in a report on Wednesday, April 2nd. JPMorgan Chase & Co. reduced their price objective on shares of Constellation Brands from $203.00 to $194.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Finally, Jefferies Financial Group restated a "hold" rating and set a $201.00 target price (down previously from $310.00) on shares of Constellation Brands in a research report on Monday, January 13th. Ten research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $225.74.

Constellation Brands Stock Performance

NYSE STZ traded down $1.37 during trading hours on Wednesday, hitting $190.02. 1,272,477 shares of the company's stock traded hands, compared to its average volume of 1,735,000. The company has a current ratio of 1.10, a quick ratio of 0.46 and a debt-to-equity ratio of 1.26. Constellation Brands has a 52 week low of $160.46 and a 52 week high of $265.70. The firm has a market capitalization of $33.83 billion, a P/E ratio of 51.08, a P/E/G ratio of 1.52 and a beta of 1.75. The business's fifty day moving average price is $183.37 and its two-hundred day moving average price is $200.85.

Constellation Brands (NYSE:STZ - Get Free Report) last posted its quarterly earnings data on Wednesday, April 9th. The company reported $2.63 EPS for the quarter, topping the consensus estimate of $2.28 by $0.35. The firm had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.14 billion. Constellation Brands had a return on equity of 26.55% and a net margin of 6.27%. Constellation Brands's revenue was up 1.2% on a year-over-year basis. During the same period in the prior year, the business posted $2.26 EPS. Equities research analysts predict that Constellation Brands will post 13.5 EPS for the current year.

Institutional Trading of Constellation Brands

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Van ECK Associates Corp grew its stake in shares of Constellation Brands by 1,844.7% during the fourth quarter. Van ECK Associates Corp now owns 924,274 shares of the company's stock valued at $204,265,000 after buying an additional 876,745 shares during the last quarter. Copperleaf Capital LLC purchased a new stake in Constellation Brands in the fourth quarter worth $343,000. Grimes & Company Inc. bought a new stake in shares of Constellation Brands during the fourth quarter worth $6,099,000. Empowered Funds LLC boosted its stake in shares of Constellation Brands by 62.8% during the fourth quarter. Empowered Funds LLC now owns 16,575 shares of the company's stock valued at $3,663,000 after purchasing an additional 6,391 shares during the period. Finally, Southern Style Financial Inc. bought a new position in shares of Constellation Brands in the fourth quarter worth about $3,074,000. 77.34% of the stock is owned by hedge funds and other institutional investors.

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.