Coca-Cola HBC (OTCMKTS:CCHGY) Shares Gap Up – Here’s What Happened

Coca-Cola HBC (OTCMKTS:CCHGY)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $49.8780, but opened at $52.05. Coca-Cola HBC shares last traded at $52.21, with a volume of 375 shares traded.

Analysts Set New Price Targets

CCHGY has been the topic of several analyst reports. Morgan Stanley started coverage on shares of Coca-Cola HBC in a research note on Thursday, October 2nd. They issued an “overweight” rating on the stock. Wall Street Zen cut shares of Coca-Cola HBC from a “buy” rating to a “hold” rating in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy”.

Coca-Cola HBC Price Performance

The company has a debt-to-equity ratio of 0.89, a current ratio of 1.14 and a quick ratio of 0.92. The company’s fifty day simple moving average is $49.12 and its 200 day simple moving average is $49.85.

About Coca-Cola HBC

Coca-Cola HBC (OTCMKTS:CCHGY) is a major bottling partner for The Coca-Cola Company, engaged in the production, packaging, distribution and marketing of nonalcoholic beverages. As a concentrate licensee and bottler, the company manufactures and sells a broad portfolio of branded soft drinks, waters, juices, ready-to-drink teas, sports and energy drinks, and other still beverages under global and local brands. Its operations cover the full bottling value chain, from procurement of raw materials and bottling to route-to-market distribution and retail execution.

The company’s activities encompass manufacturing at local bottling plants, supply chain and logistics management, commercial and customer-facing sales, and marketing support for both global Coca‑Cola brands and regionally tailored products.