Treasury Wine Estates (OTCMKTS:TSRYY) Shares Up 13.8% – Here’s What Happened

Treasury Wine Estates Ltd. (OTCMKTS:TSRYY)’s stock price shot up 13.8% during trading on Thursday . The company traded as high as $3.24 and last traded at $3.22. 24,562 shares traded hands during trading, a decline of 94% from the average session volume of 380,666 shares. The stock had previously closed at $2.83.

Wall Street Analyst Weigh In

A number of research firms have recently commented on TSRYY. Citigroup cut Treasury Wine Estates from a “hold” rating to a “strong sell” rating in a research report on Wednesday, January 14th. UBS Group cut Treasury Wine Estates from a “hold” rating to a “strong sell” rating in a research report on Friday, February 6th. Two analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus price target of $5.20.

Treasury Wine Estates Stock Down 3.9%

The stock’s 50 day moving average is $2.88 and its two-hundred day moving average is $3.44.

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.