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

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

Several other equities analysts also recently issued reports on TAP. Wells Fargo & Company raised 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 report on Friday, November 8th. TD Cowen decreased their price target on shares of Molson Coors Beverage from $58.00 to $56.00 and set a “hold” rating on the stock in a research note on Tuesday, October 8th. Bank of America upgraded Molson Coors Beverage from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $57.00 to $70.00 in a research note on Friday, December 6th. Hsbc Global Res cut Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a report on Friday, November 8th. Finally, Barclays lifted their price target on Molson Coors Beverage from $49.00 to $51.00 and gave the stock an “underweight” rating in a research note on Monday, November 11th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $62.00.

Molson Coors Beverage Price Performance

Shares of Molson Coors Beverage stock opened at $54.26 on Monday. The firm has a market cap of $11.18 billion, a PE ratio of 12.22, a P/E/G ratio of 2.38 and a beta of 0.86. Molson Coors Beverage has a twelve month low of $49.19 and a twelve month high of $69.18. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.46. The business has a 50-day moving average price of $59.29 and a 200 day moving average price of $55.85.

Molson Coors Beverage (NYSE:TAP) last posted its quarterly earnings data on Thursday, November 7th. The company reported $1.80 EPS for the quarter, beating analysts’ consensus estimates of $1.67 by $0.13. Molson Coors Beverage had a return on equity of 9.24% and a net margin of 6.78%. The business had revenue of $3.04 billion during the quarter, compared to analysts’ expectations of $3.13 billion. During the same period in the previous year, the business earned $1.92 earnings per share. The business’s revenue was down 7.8% compared to the same quarter last year. Sell-side analysts predict that Molson Coors Beverage will post 5.78 earnings per share for the current fiscal year.

Institutional Trading of Molson Coors Beverage

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Altshuler Shaham Ltd purchased a new position in Molson Coors Beverage in the second quarter worth approximately $27,000. Ashton Thomas Securities LLC acquired a new position in shares of Molson Coors Beverage in the 3rd quarter valued at $35,000. Gladius Capital Management LP purchased a new position in shares of Molson Coors Beverage during the 3rd quarter worth $42,000. True Wealth Design LLC acquired a new stake in shares of Molson Coors Beverage during the 3rd quarter worth about $59,000. Finally, Quarry LP purchased a new stake in Molson Coors Beverage in the 2nd quarter valued at about $54,000. Institutional investors and hedge funds 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.