Molson Coors Beverage (NYSE:TAP) Stock Rating Upgraded by StockNews.com

Molson Coors Beverage (NYSE:TAP) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Friday.

A number of other brokerages also recently commented on TAP. Wells Fargo & Company upgraded shares of Molson Coors Beverage from an “underweight” rating to an “overweight” rating and raised their price objective for the company from $52.00 to $74.00 in a research report on Friday, November 8th. Bank of America raised Molson Coors Beverage from a “neutral” rating to a “buy” rating and raised their price target for the company from $57.00 to $70.00 in a report on Friday, December 6th. Needham & Company LLC began coverage on Molson Coors Beverage in a report on Friday, December 6th. They set a “buy” rating and a $72.00 price objective on the stock. JPMorgan Chase & Co. raised their target price on Molson Coors Beverage from $57.00 to $60.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Finally, Hsbc Global Res cut shares of Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a research note on Friday, November 8th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $62.00.

Molson Coors Beverage Price Performance

Molson Coors Beverage stock opened at $61.07 on Friday. The business has a 50 day simple moving average of $58.53 and a 200-day simple moving average of $55.00. Molson Coors Beverage has a 12 month low of $49.19 and a 12 month high of $69.18. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.99 and a quick ratio of 0.74. The stock has a market capitalization of $12.58 billion, a PE ratio of 13.75, a price-to-earnings-growth ratio of 2.38 and a beta of 0.85.

Molson Coors Beverage (NYSE:TAP) last released its earnings results on Thursday, November 7th. The company reported $1.80 EPS for the quarter, topping the consensus estimate of $1.67 by $0.13. The company had revenue of $3.04 billion during the quarter, compared to analysts’ expectations of $3.13 billion. Molson Coors Beverage had a net margin of 6.78% and a return on equity of 9.24%. The business’s revenue was down 7.8% on a year-over-year basis. During the same quarter last year, the business earned $1.92 EPS. Equities analysts predict that Molson Coors Beverage will post 5.78 earnings per share for the current year.

Institutional Investors Weigh In On Molson Coors Beverage

Institutional investors and hedge funds have recently bought and sold shares of the stock. Family Firm Inc. purchased a new position in Molson Coors Beverage during the second quarter worth $26,000. Altshuler Shaham Ltd acquired a new stake in shares of Molson Coors Beverage during the second quarter valued at $27,000. Ashton Thomas Securities LLC acquired a new stake in shares of Molson Coors Beverage during the third quarter valued at $35,000. Gladius Capital Management LP purchased a new stake in Molson Coors Beverage during the 3rd quarter worth about $42,000. Finally, Quarry LP acquired a new position in Molson Coors Beverage in the 2nd quarter valued at about $54,000. Hedge funds and other institutional investors own 78.46% of the company’s stock.

About Molson Coors Beverage

Molson Coors Beverage Company manufactures, markets, and sells beer and other malt beverage products under various brands in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers flavored malt beverages including hard seltzers, craft, spirits and energy, and ready to drink beverages.