Molson Coors Beverage (NYSE:TAP) Rating Increased to Buy at StockNews.com

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

A number of other analysts also recently commented on the stock. TD Cowen dropped their target price on shares of Molson Coors Beverage from $58.00 to $56.00 and set a “hold” rating on the stock in a report on Tuesday, October 8th. Barclays upped their price target on Molson Coors Beverage from $49.00 to $51.00 and gave the company an “underweight” rating in a report on Monday, November 11th. JPMorgan Chase & Co. raised their price objective on Molson Coors Beverage from $57.00 to $60.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Bank of America raised Molson Coors Beverage from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $57.00 to $70.00 in a research report on Friday, December 6th. Finally, Hsbc Global Res lowered Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a research report on Friday, November 8th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $62.00.

Molson Coors Beverage Price Performance

TAP traded up $0.13 on Friday, reaching $61.07. The company had a trading volume of 1,297,198 shares, compared to its average volume of 1,904,661. Molson Coors Beverage has a one year low of $49.19 and a one year high of $69.18. The company has a market capitalization of $12.58 billion, a P/E ratio of 13.75, a PEG ratio of 2.38 and a beta of 0.85. The company has a fifty day moving average of $58.53 and a 200-day moving average of $54.99. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.46.

Molson Coors Beverage (NYSE:TAP) last posted its quarterly earnings data on Thursday, November 7th. The company reported $1.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.67 by $0.13. The business 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 period last year, the firm posted $1.92 earnings per share. As a group, equities research analysts anticipate that Molson Coors Beverage will post 5.78 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of TAP. Clark Estates Inc. NY lifted its holdings in shares of Molson Coors Beverage by 18.1% during the third quarter. Clark Estates Inc. NY now owns 60,000 shares of the company’s stock worth $3,451,000 after buying an additional 9,200 shares during the last quarter. Wakefield Asset Management LLLP increased its stake in Molson Coors Beverage by 124.5% during the second quarter. Wakefield Asset Management LLLP now owns 53,286 shares of the company’s stock valued at $2,709,000 after acquiring an additional 29,552 shares during the period. Qsemble Capital Management LP lifted its position in shares of Molson Coors Beverage by 23.5% in the 3rd quarter. Qsemble Capital Management LP now owns 48,474 shares of the company’s stock worth $2,788,000 after acquiring an additional 9,234 shares during the period. Quest Partners LLC grew its holdings in shares of Molson Coors Beverage by 252,400.0% during the 2nd quarter. Quest Partners LLC now owns 17,675 shares of the company’s stock worth $898,000 after purchasing an additional 17,668 shares in the last quarter. Finally, 1832 Asset Management L.P. bought a new stake in shares of Molson Coors Beverage during the second quarter valued at approximately $1,237,000. Institutional investors and hedge funds own 78.46% of the company’s stock.

Molson Coors Beverage Company Profile

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.