Treasury Wine Estates (OTCMKTS:TSRYY) Shares Gap Up – Time to Buy?

Shares of Treasury Wine Estates Ltd. (OTCMKTS:TSRYY) gapped up before the market opened on Friday . The stock had previously closed at $2.26, but opened at $2.42. Treasury Wine Estates shares last traded at $2.43, with a volume of 47,759 shares traded.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Royal Bank Of Canada lowered shares of Treasury Wine Estates from a “moderate buy” rating to a “hold” rating in a research note on Thursday, December 18th. Jefferies Financial Group downgraded shares of Treasury Wine Estates from a “strong-buy” rating to a “hold” rating and set a $5.20 price objective for the company. in a research report on Wednesday, December 17th. UBS Group cut shares of Treasury Wine Estates from a “hold” rating to a “strong sell” rating in a report on Friday, February 6th. Finally, Citigroup lowered shares of Treasury Wine Estates from a “hold” rating to a “strong sell” rating in a research note on Wednesday, January 14th. Two analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus target price of $5.20.

Treasury Wine Estates Stock Up 7.9%

The firm has a 50 day simple moving average of $3.24 and a two-hundred day simple moving average of $3.73.

About Treasury Wine Estates

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.