Coca-Cola European Partners (CCE) Rating Increased to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of Coca-Cola European Partners (NYSE:CCE) from a hold rating to a buy rating in a research report report published on Monday morning. The brokerage currently has $43.00 price objective on the stock.
According to Zacks, “Coca-Cola European Partners PLC is a consumer packaged goods company. It is engaged in producing, distributing and marketing nonalcoholic ready-to-drink beverages. It operates primarily in Andorra, Belgium, continental France, Germany, Great Britain, Luxembourg, Monaco, the Netherlands, Norway, Portugal, Spain and Sweden. Coca-Cola European Partners PLC, formerly known as Coca-Cola Enterprises Inc., is headquartered in Uxbridge, United Kingdom. “
A number of other research firms have also recently commented on CCE. Macquarie cut shares of Coca-Cola European Partners from an outperform rating to a neutral rating and set a $40.00 price target on the stock. in a report on Friday, January 5th. Susquehanna Bancshares cut shares of Coca-Cola European Partners from a neutral rating to a neutral rating and cut their price target for the stock from $38.00 to $33.00 in a report on Monday, November 13th. UBS Group cut shares of Coca-Cola European Partners to a neutral rating in a report on Monday, November 13th. Finally, Deutsche Bank began coverage on shares of Coca-Cola European Partners in a report on Wednesday, December 13th. They issued a buy rating and a $43.00 price target on the stock. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average price target of $43.38.
Shares of Coca-Cola European Partners (NYSE:CCE) traded up $0.74 on Monday, hitting $39.54. 1,661,100 shares of the stock traded hands, compared to its average volume of 1,645,109. Coca-Cola European Partners has a 1-year low of $32.21 and a 1-year high of $44.75. The stock has a market capitalization of $19,150.00, a P/E ratio of 22.59, a P/E/G ratio of 1.85 and a beta of 0.88. The company has a current ratio of 0.95, a quick ratio of 0.76 and a debt-to-equity ratio of 0.76.
Coca-Cola European Partners (NYSE:CCE) last posted its quarterly earnings results on Tuesday, November 7th. The company reported $0.68 EPS for the quarter, missing the Zacks’ consensus estimate of $0.80 by ($0.12). The company had revenue of $2.96 billion during the quarter, compared to the consensus estimate of $2.99 billion. Coca-Cola European Partners had a return on equity of 15.60% and a net margin of 6.78%. The company’s revenue for the quarter was down .7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.67 earnings per share. sell-side analysts forecast that Coca-Cola European Partners will post 2.49 EPS for the current year.
A number of institutional investors have recently modified their holdings of the business. First Allied Advisory Services Inc. grew its holdings in Coca-Cola European Partners by 0.3% during the 2nd quarter. First Allied Advisory Services Inc. now owns 10,196 shares of the company’s stock worth $411,000 after acquiring an additional 30 shares in the last quarter. Raymond James Trust N.A. grew its holdings in Coca-Cola European Partners by 1.8% during the 2nd quarter. Raymond James Trust N.A. now owns 5,978 shares of the company’s stock worth $243,000 after acquiring an additional 104 shares in the last quarter. Suntrust Banks Inc. grew its holdings in Coca-Cola European Partners by 2.3% during the 2nd quarter. Suntrust Banks Inc. now owns 8,894 shares of the company’s stock worth $360,000 after acquiring an additional 204 shares in the last quarter. Neuberger Berman Group LLC grew its holdings in Coca-Cola European Partners by 3.8% during the 2nd quarter. Neuberger Berman Group LLC now owns 10,492 shares of the company’s stock worth $427,000 after acquiring an additional 382 shares in the last quarter. Finally, Voya Investment Management LLC grew its holdings in Coca-Cola European Partners by 1.6% during the 2nd quarter. Voya Investment Management LLC now owns 25,414 shares of the company’s stock worth $1,031,000 after acquiring an additional 400 shares in the last quarter. Institutional investors own 29.33% of the company’s stock.
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Coca-Cola European Partners Company Profile
Coca-Cola Enterprises, Inc (CCE) markets, produces and distributes nonalcoholic beverages. The Company serves customers across Belgium, continental France, Great Britain, Luxembourg, Monaco, the Netherlands, Norway and Sweden. The Company’s segments include Europe and Corporate. CCE is The Coca-Cola Company’s strategic bottling partner in Western Europe.
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