Constellation Brands (NYSE:STZ) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Thursday, September 20th.

According to Zacks, “Constellation Brands outperformed the industry in the past month, driven by its solid top-line trends. In first-quarter fiscal 2019, results reflected the 9th sales beat in last 11 quarters. Top-line beat was driven by strong depletions in the beer business, offset by softness in wine & spirits. Looking ahead, the company raised GAAP earnings view for the fiscal. Further, management continues to expect high-single digit volume growth, and issued robust guidance for the beer segment in fiscal 2019. However, its earnings missed estimates in the first quarter driven by higher marketing expenses and transportation costs that led to a decline in the operating margin. This marked an earnings miss after 14 consecutive beats. Further, the market remains concerned about the outcome of its recent $5 billion investment to expand stake in Canada’s Canopy Growth. Nevertheless, estimates have been stable lately.”

Several other research firms have also issued reports on STZ. ValuEngine upgraded Constellation Brands from a “hold” rating to a “buy” rating in a research report on Thursday, June 28th. OTR Global lowered Constellation Brands to a “positive” rating in a research report on Friday, June 15th. Stifel Nicolaus boosted their price objective on Constellation Brands from $228.00 to $230.00 and gave the company a “hold” rating in a research report on Thursday, May 31st. Pivotal Research reiterated a “buy” rating and issued a $285.00 price objective on shares of Constellation Brands in a research report on Friday, June 29th. Finally, Morgan Stanley decreased their price objective on Constellation Brands from $262.00 to $258.00 and set a “buy” rating for the company in a research report on Tuesday, July 3rd. Two analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $246.53.

Shares of Constellation Brands stock traded up $7.92 during trading on Thursday, reaching $225.69. The company’s stock had a trading volume of 2,965,834 shares, compared to its average volume of 1,925,918. The stock has a market capitalization of $41.23 billion, a price-to-earnings ratio of 25.88, a P/E/G ratio of 2.13 and a beta of 0.01. Constellation Brands has a one year low of $198.85 and a one year high of $236.62. The company has a quick ratio of 0.77, a current ratio of 1.81 and a debt-to-equity ratio of 0.89.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings data on Thursday, October 4th. The company reported $2.87 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.60 by $0.27. The firm had revenue of $2.30 billion during the quarter, compared to analysts’ expectations of $2.25 billion. Constellation Brands had a return on equity of 19.81% and a net margin of 31.51%. The company’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same period in the previous year, the business posted $2.47 EPS. As a group, sell-side analysts anticipate that Constellation Brands will post 9.29 EPS for the current year.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Sun Life Financial INC increased its position in Constellation Brands by 155.3% during the 2nd quarter. Sun Life Financial INC now owns 457 shares of the company’s stock worth $100,000 after buying an additional 278 shares during the period. Clarus Wealth Advisors bought a new position in Constellation Brands during the 2nd quarter worth $111,000. Atlantic Trust LLC bought a new position in Constellation Brands during the 2nd quarter worth $114,000. Benjamin F. Edwards & Company Inc. increased its position in Constellation Brands by 227.3% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 527 shares of the company’s stock worth $115,000 after buying an additional 366 shares during the period. Finally, Stelac Advisory Services LLC bought a new position in Constellation Brands during the 2nd quarter worth $125,000. Institutional investors and hedge funds own 73.49% of the company’s stock.

Constellation Brands Company Profile

Constellation Brands, Inc, together with its subsidiaries, produces, imports, and markets beer, wine, and spirits in the United States, Canada, Mexico, New Zealand, and Italy. The company sells wine across various categories, including table wine, sparkling wine, and dessert wine. It provides beer primarily under the Corona Extra, Corona Light, Modelo Especial, Modelo Negra, Modelo Chelada, Pacifico, and Victoria brands, as well as Funky Buddha, Obregon Brewery, and Ballast Point brands.

Recommended Story: Tariff

Get a free copy of the Zacks research report on Constellation Brands (STZ)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Constellation Brands (NYSE:STZ)

Receive News & Ratings for Constellation Brands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Constellation Brands and related companies with MarketBeat.com's FREE daily email newsletter.