StockNews.com Upgrades Molson Coors Beverage (NYSE:TAP) to Buy

Molson Coors Beverage (NYSE:TAP) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Monday.

Other analysts also recently issued reports about the company. Barclays raised their target price on Molson Coors Beverage from $49.00 to $51.00 and gave the company an “underweight” rating in a research note on Monday, November 11th. Hsbc Global Res lowered Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a research note on Friday, November 8th. Bank of America raised Molson Coors Beverage from a “neutral” rating to a “buy” rating and upped their target price for the company from $57.00 to $70.00 in a research report on Friday, December 6th. BNP Paribas started coverage on shares of Molson Coors Beverage in a research report on Monday, November 25th. They set a “neutral” rating and a $64.00 price target for the company. Finally, Wells Fargo & Company upgraded shares of Molson Coors Beverage from an “underweight” rating to an “overweight” rating and increased their price objective for the company from $52.00 to $74.00 in a research note on Friday, November 8th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $62.00.

Molson Coors Beverage Stock Up 2.6 %

Molson Coors Beverage stock traded up $1.38 during midday trading on Monday, hitting $53.82. 2,067,099 shares of the company were exchanged, compared to its average volume of 1,947,800. The company has a market cap of $11.09 billion, a PE ratio of 12.12, a price-to-earnings-growth ratio of 2.38 and a beta of 0.86. Molson Coors Beverage has a fifty-two week low of $49.19 and a fifty-two week high of $69.18. The company’s fifty day moving average price is $59.33 and its 200-day moving average price is $55.82. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.99 and a quick ratio of 0.74.

Molson Coors Beverage (NYSE:TAP) last posted its earnings results on Thursday, November 7th. The company reported $1.80 EPS for the quarter, topping analysts’ consensus estimates of $1.67 by $0.13. The business had revenue of $3.04 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the previous year, the company posted $1.92 earnings per share. On average, research analysts predict that Molson Coors Beverage will post 5.78 EPS for the current fiscal year.

Hedge Funds Weigh In On Molson Coors Beverage

Several institutional investors have recently modified their holdings of the company. Clark Estates Inc. NY boosted its stake in Molson Coors Beverage by 18.1% during the 3rd quarter. Clark Estates Inc. NY now owns 60,000 shares of the company’s stock valued at $3,451,000 after purchasing an additional 9,200 shares during the period. Qsemble Capital Management LP grew its holdings in Molson Coors Beverage by 23.5% in the 3rd quarter. Qsemble Capital Management LP now owns 48,474 shares of the company’s stock worth $2,788,000 after buying an additional 9,234 shares in the last quarter. Principal Financial Group Inc. increased its position in Molson Coors Beverage by 4.7% in the 3rd quarter. Principal Financial Group Inc. now owns 211,812 shares of the company’s stock valued at $12,183,000 after acquiring an additional 9,510 shares during the period. 1832 Asset Management L.P. acquired a new stake in Molson Coors Beverage in the 2nd quarter valued at approximately $1,237,000. Finally, FMR LLC raised its stake in Molson Coors Beverage by 23.2% during the 3rd quarter. FMR LLC now owns 716,311 shares of the company’s stock valued at $41,202,000 after acquiring an additional 134,689 shares in the last quarter. Institutional investors own 78.46% of the company’s stock.

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.