Needham & Company LLC Reiterates Buy Rating for Constellation Brands (NYSE:STZ)

Constellation Brands (NYSE:STZ)‘s stock had its “buy” rating restated by equities researchers at Needham & Company LLC in a research note issued to investors on Friday,Benzinga reports. They presently have a $280.00 target price on the stock. Needham & Company LLC’s price objective would indicate a potential upside of 51.66% from the stock’s current price.

Other equities analysts have also recently issued reports about the company. Wells Fargo & Company lowered their price target on Constellation Brands from $295.00 to $275.00 and set an “overweight” rating on the stock in a research report on Tuesday. Royal Bank of Canada restated an “outperform” rating and set a $308.00 price objective on shares of Constellation Brands in a report on Tuesday. BNP Paribas started coverage on shares of Constellation Brands in a report on Monday, November 25th. They issued a “neutral” rating and a $261.00 target price for the company. Bank of America restated a “neutral” rating and issued a $255.00 price target (down previously from $300.00) on shares of Constellation Brands in a research report on Monday, October 7th. Finally, TD Cowen lowered their price objective on shares of Constellation Brands from $270.00 to $260.00 and set a “hold” rating on the stock in a research report on Wednesday. Five analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $284.75.

Constellation Brands Stock Performance

Constellation Brands stock traded down $34.66 during midday trading on Friday, reaching $184.62. 3,901,768 shares of the stock traded hands, compared to its average volume of 2,024,687. The company has a current ratio of 1.25, a quick ratio of 0.53 and a debt-to-equity ratio of 1.31. The firm has a fifty day moving average price of $232.90 and a two-hundred day moving average price of $242.14. The firm has a market cap of $33.52 billion, a price-to-earnings ratio of 59.75, a PEG ratio of 1.69 and a beta of 1.75. Constellation Brands has a fifty-two week low of $184.59 and a fifty-two week high of $274.87.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings data on Friday, January 10th. The company reported $3.25 earnings per share for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.08). The company had revenue of $2.46 billion for the quarter, compared to the consensus estimate of $2.53 billion. Constellation Brands had a net margin of 5.29% and a return on equity of 25.34%. Constellation Brands’s revenue for the quarter was down .3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.19 earnings per share. On average, equities research analysts forecast that Constellation Brands will post 13.57 earnings per share for the current year.

Insider Buying and Selling at Constellation Brands

In other news, EVP Samuel J. Glaetzer sold 1,510 shares of Constellation Brands stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $245.57, for a total value of $370,810.70. Following the transaction, the executive vice president now owns 4,970 shares of the company’s stock, valued at $1,220,482.90. This trade represents a 23.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO William A. Newlands sold 7,426 shares of the firm’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $237.24, for a total transaction of $1,761,744.24. Following the completion of the transaction, the chief executive officer now owns 7,274 shares in the company, valued at $1,725,683.76. The trade was a 50.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 189,956 shares of company stock worth $46,058,091 over the last three months. Corporate insiders own 12.19% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Ashton Thomas Private Wealth LLC acquired a new position in Constellation Brands during the 2nd quarter valued at $36,000. Eastern Bank acquired a new position in shares of Constellation Brands during the third quarter valued at about $39,000. Versant Capital Management Inc lifted its stake in shares of Constellation Brands by 887.5% in the fourth quarter. Versant Capital Management Inc now owns 158 shares of the company’s stock valued at $35,000 after buying an additional 142 shares during the period. FSA Wealth Management LLC bought a new position in Constellation Brands during the third quarter valued at about $42,000. Finally, Fairfield Financial Advisors LTD acquired a new position in Constellation Brands in the 2nd quarter valued at approximately $57,000. 77.34% of the stock is owned by institutional investors.

Constellation Brands Company Profile

Constellation Brands, Inc, together with its subsidiaries, produces, imports, markets, and sells beer, wine, and spirits in the United States, Canada, Mexico, New Zealand, and Italy. The company provides beer primarily under the Corona Extra, Corona Familiar, Corona Hard Seltzer, Corona Light, Corona Non-Alcoholic, Corona Premier, Corona Refresca, Modelo Especial, Modelo Chelada, Modelo Negra, Modelo Oro, Victoria, Vicky Chamoy, and Pacifico brands.