Constellation Brands (NYSE:STZ) Upgraded by Argus to Buy

Constellation Brands (NYSE:STZ) was upgraded by research analysts at Argus from a “hold” rating to a “buy” rating in a note issued to investors on Monday, Marketbeat reports. The brokerage presently has a $306.00 target price on the stock. Argus’ price target would indicate a potential upside of 18.71% from the company’s previous close.

Several other analysts have also issued reports on STZ. Deutsche Bank Aktiengesellschaft raised their price target on shares of Constellation Brands from $256.00 to $262.00 and gave the stock a “hold” rating in a research report on Wednesday, April 10th. Evercore ISI raised their price target on shares of Constellation Brands from $300.00 to $310.00 and gave the stock an “outperform” rating in a research report on Friday, April 12th. JPMorgan Chase & Co. decreased their price target on shares of Constellation Brands from $309.00 to $301.00 and set an “overweight” rating on the stock in a research report on Thursday, December 21st. UBS Group raised their price target on shares of Constellation Brands from $312.00 to $320.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. Finally, BMO Capital Markets raised their price target on shares of Constellation Brands from $290.00 to $315.00 and gave the stock an “outperform” rating in a research report on Friday, April 12th. Three investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $298.55.

Constellation Brands Stock Performance

NYSE:STZ opened at $257.78 on Monday. Constellation Brands has a 1 year low of $221.81 and a 1 year high of $274.87. The firm’s fifty day simple moving average is $257.25 and its 200 day simple moving average is $247.05. The company has a current ratio of 1.19, a quick ratio of 0.53 and a debt-to-equity ratio of 1.06. The firm has a market capitalization of $47.13 billion, a PE ratio of 27.48, a PEG ratio of 1.78 and a beta of 0.97.

Constellation Brands (NYSE:STZ) last posted its earnings results on Thursday, April 11th. The company reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.10 by $0.16. Constellation Brands had a net margin of 16.13% and a return on equity of 23.06%. The business had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.09 billion. During the same period last year, the business posted $1.98 EPS. Constellation Brands’s revenue was up 7.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Constellation Brands will post 13.43 EPS for the current year.

Hedge Funds Weigh In On Constellation Brands

Institutional investors have recently added to or reduced their stakes in the company. Kestra Private Wealth Services LLC lifted its holdings in Constellation Brands by 17.2% during the 3rd quarter. Kestra Private Wealth Services LLC now owns 17,218 shares of the company’s stock valued at $4,327,000 after purchasing an additional 2,526 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of Constellation Brands by 15.3% in the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 32,433 shares of the company’s stock worth $8,151,000 after acquiring an additional 4,311 shares during the last quarter. Perigon Wealth Management LLC raised its stake in shares of Constellation Brands by 46.0% in the fourth quarter. Perigon Wealth Management LLC now owns 6,012 shares of the company’s stock worth $1,453,000 after acquiring an additional 1,893 shares during the last quarter. CoreCap Advisors LLC raised its stake in shares of Constellation Brands by 35.8% in the fourth quarter. CoreCap Advisors LLC now owns 2,002 shares of the company’s stock worth $484,000 after acquiring an additional 528 shares during the last quarter. Finally, Ascent Wealth Partners LLC bought a new position in shares of Constellation Brands in the fourth quarter worth about $962,000. 77.34% of the stock is owned by 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 Premier, Corona Familiar, Corona Light, Corona Refresca, Corona Hard Seltzer, Modelo Especial, Modelo Negra, Modelo Chelada, Victoria, Vicky Chamoy, and Pacifico brands.