Treasury Wine Estates (OTCMKTS:TSRYY) Shares Gap Down After Analyst Downgrade

Shares of Treasury Wine Estates Ltd. (OTCMKTS:TSRYY) gapped down prior to trading on Thursday after Citigroup downgraded the stock from a hold rating to a strong sell rating. The stock had previously closed at $3.51, but opened at $3.36. Treasury Wine Estates shares last traded at $3.34, with a volume of 7,594 shares trading hands.

Several other analysts also recently commented on the stock. Royal Bank Of Canada downgraded shares of Treasury Wine Estates from a “moderate buy” rating to a “hold” rating in a report on Thursday, December 18th. UBS Group lowered shares of Treasury Wine Estates from a “strong-buy” rating to a “hold” rating in a report on Monday, October 13th. Finally, Jefferies Financial Group lowered shares of Treasury Wine Estates from a “strong-buy” rating to a “hold” rating and set a $5.20 target price for the company. in a research note on Wednesday, December 17th. Three investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average price target of $5.20.

Treasury Wine Estates Stock Performance

The firm’s 50-day simple moving average is $3.63 and its 200 day simple moving average is $4.39.

Treasury Wine Estates Company Profile

Treasury Wine Estates is a Melbourne‐based global wine company that produces, markets and distributes a broad portfolio of wines. Its portfolio spans premium, luxury and commercial brands, including Penfolds, Beringer, Stags’ Leap Family Vineyards, Wolf Blass, Lindeman’s and Matua. The company sources fruit from a mix of owned vineyards and long-term grower partnerships across key wine regions in Australia, California and New Zealand.

The business was established in 2011 following a demerger from Foster’s Group and traces its heritage back to the founding of Penfolds in 1844.