Molson Coors Beverage (NYSE:TAP) Price Target Raised to $51.00

Molson Coors Beverage (NYSE:TAP) had its price objective hoisted by equities research analysts at Barclays from $49.00 to $51.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has an “underweight” rating on the stock. Barclays‘s target price would suggest a potential downside of 17.61% from the stock’s previous close.

Several other research analysts also recently commented on TAP. Deutsche Bank Aktiengesellschaft boosted their target price on Molson Coors Beverage from $56.00 to $57.00 and gave the stock a “hold” rating in a research note on Wednesday, August 7th. Jefferies Financial Group dropped their price objective on shares of Molson Coors Beverage from $61.00 to $57.00 and set a “hold” rating for the company in a research note on Thursday, July 18th. UBS Group boosted their target price on shares of Molson Coors Beverage from $55.00 to $58.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Wells Fargo & Company raised Molson Coors Beverage from an “underweight” rating to an “overweight” rating and raised their price objective for the company from $52.00 to $74.00 in a report on Friday, November 8th. Finally, TD Cowen reduced their price objective on Molson Coors Beverage from $58.00 to $56.00 and set a “hold” rating on the stock in a research report on Tuesday, October 8th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $60.31.

Molson Coors Beverage Stock Performance

NYSE:TAP opened at $61.90 on Monday. The company has a market cap of $12.82 billion, a price-to-earnings ratio of 13.94, a PEG ratio of 2.60 and a beta of 0.82. Molson Coors Beverage has a fifty-two week low of $49.19 and a fifty-two week high of $69.18. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.75 and a current ratio of 0.99. The stock has a fifty day moving average price of $55.80 and a 200-day moving average price of $54.24.

Molson Coors Beverage (NYSE:TAP) last announced its quarterly earnings data on Thursday, November 7th. The company reported $1.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.67 by $0.13. The firm had revenue of $3.04 billion for the quarter, compared to the consensus estimate of $3.13 billion. Molson Coors Beverage had a net margin of 6.78% and a return on equity of 9.24%. The business’s revenue for the quarter was down 7.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.92 earnings per share. As a group, equities analysts anticipate that Molson Coors Beverage will post 5.74 EPS for the current fiscal year.

Institutional Investors Weigh In On Molson Coors Beverage

A number of hedge funds have recently added to or reduced their stakes in the business. Family Firm Inc. acquired a new stake in shares of Molson Coors Beverage during the 2nd quarter worth approximately $26,000. Altshuler Shaham Ltd bought a new position in Molson Coors Beverage during the second quarter worth $27,000. Ashton Thomas Securities LLC acquired a new stake in Molson Coors Beverage in the third quarter worth $35,000. Crewe Advisors LLC bought a new stake in Molson Coors Beverage in the first quarter valued at $43,000. Finally, GPS Wealth Strategies Group LLC raised its holdings in shares of Molson Coors Beverage by 83.8% during the second quarter. GPS Wealth Strategies Group LLC now owns 645 shares of the company’s stock valued at $33,000 after purchasing an additional 294 shares during the period. 78.46% of the stock is currently owned by institutional investors.

About Molson Coors Beverage

Molson Coors Beverage Company manufactures, markets, and sells beer and other malt beverage products under various brands in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers flavored malt beverages including hard seltzers, craft, spirits and energy, and ready to drink beverages.