StockNews.com Begins Coverage on Ambev (NYSE:ABEV)

StockNews.com initiated coverage on shares of Ambev (NYSE:ABEV) in a research report released on Saturday morning. The brokerage issued a buy rating on the stock.

Several other research analysts have also recently commented on the stock. Bank of America upgraded shares of Ambev from a neutral rating to a buy rating in a report on Monday, July 10th. Sanford C. Bernstein assumed coverage on Ambev in a research report on Wednesday, May 24th. They set an outperform rating and a $3.74 price objective for the company. Four investment analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of Buy and a consensus price target of $3.74.

Ambev Price Performance

Ambev stock opened at $2.74 on Friday. The company has a quick ratio of 0.65, a current ratio of 1.01 and a debt-to-equity ratio of 0.03. Ambev has a 52-week low of $2.40 and a 52-week high of $3.24. The firm has a market cap of $43.16 billion, a PE ratio of 16.06, a price-to-earnings-growth ratio of 2.36 and a beta of 1.11. The company’s 50 day moving average is $2.93 and its two-hundred day moving average is $2.90.

Ambev (NYSE:ABEV) last announced its quarterly earnings data on Thursday, August 3rd. The company reported $0.03 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.03. Ambev had a return on equity of 17.05% and a net margin of 17.21%. The business had revenue of $3.82 billion for the quarter, compared to analysts’ expectations of $3.60 billion. On average, research analysts expect that Ambev will post 0.17 EPS for the current fiscal year.

Hedge Funds Weigh In On Ambev

Large investors have recently bought and sold shares of the stock. Raymond James & Associates grew its position in shares of Ambev by 37.0% during the first quarter. Raymond James & Associates now owns 1,039,250 shares of the company’s stock worth $3,357,000 after acquiring an additional 280,753 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Ambev by 7.5% in the first quarter. Bank of New York Mellon Corp now owns 3,788,023 shares of the company’s stock valued at $12,235,000 after purchasing an additional 264,696 shares during the period. American Century Companies Inc. increased its stake in Ambev by 38.7% in the first quarter. American Century Companies Inc. now owns 503,973 shares of the company’s stock valued at $1,628,000 after purchasing an additional 140,617 shares during the period. Cambridge Investment Research Advisors Inc. boosted its stake in shares of Ambev by 35.3% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 35,172 shares of the company’s stock worth $114,000 after buying an additional 9,168 shares during the period. Finally, HighTower Advisors LLC boosted its stake in shares of Ambev by 3.9% during the first quarter. HighTower Advisors LLC now owns 131,259 shares of the company’s stock worth $424,000 after buying an additional 4,984 shares during the period. Institutional investors and hedge funds own 8.37% of the company’s stock.

About Ambev

Ambev SA, through its subsidiaries, engages in the production, distribution, and sale of beer, draft beer, carbonated soft drinks, other non-alcoholic beverages, malt, and food products. It offers beer primarily under the Skol, Brahma, Antarctica, Brahva, Budweiser, Bud Light, Beck, Leffe and Hoegaarden, Bucanero, Cristal, Mayabe, Presidente, Presidente Light, Brahma Light, Bohemia, The One, Corona, Modelo Especial, Stella Artois, Quilmes Clásica, Paceña, Taquiña, Huari, Becker, Cusqueña, Michelob Ultra, Busch, Pilsen, Ouro Fino, Banks, Deputy, Patricia, Labatt Blue, Alexander Keith's, and Kokanee brands.