Ambev (NYSE:ABEV) Shares Gap Down to $3.18

Ambev S.A. (NYSE:ABEV – Free Report)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $3.18, but opened at $3.10. Ambev shares last traded at $3.10, with a volume of 946,988 shares changing hands.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Sanford C. Bernstein assumed coverage on Ambev in a research note on Wednesday, May 24th. They issued an “outperform” rating and a $3.74 target price on the stock. StockNews.com downgraded Ambev from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 11th. Four investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Ambev currently has an average rating of “Buy” and a consensus target price of $3.74.

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Ambev Stock Down 4.3 %

The firm has a market cap of $47.17 billion, a P/E ratio of 16.64, a P/E/G ratio of 2.73 and a beta of 1.10. The business’s fifty day moving average price is $2.99 and its two-hundred day moving average price is $2.79. The company has a current ratio of 0.99, a quick ratio of 0.63 and a debt-to-equity ratio of 0.03.

Ambev (NYSE:ABEV – Free Report) last announced its quarterly earnings results on Thursday, May 4th. The company reported $0.04 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.04. Ambev had a return on equity of 17.44% and a net margin of 18.00%. The company had revenue of $3.95 billion during the quarter, compared to analysts’ expectations of $3.84 billion. As a group, equities research analysts anticipate that Ambev S.A. will post 0.17 EPS for the current year.

Institutional Investors Weigh In On Ambev

Large investors have recently added to or reduced their stakes in the stock. Brown Brothers Harriman & Co. boosted its position in Ambev by 117.5% during the first quarter. Brown Brothers Harriman & Co. now owns 8,233 shares of the company’s stock worth $27,000 after purchasing an additional 4,448 shares during the period. Kellett Schaffner Wealth Advisors LLC acquired a new position in Ambev in the 4th quarter valued at $27,000. Ruggaard & Associates LLC acquired a new position in Ambev in the 1st quarter valued at $28,000. Belpointe Asset Management LLC bought a new position in shares of Ambev in the fourth quarter worth about $29,000. Finally, Cresset Asset Management LLC bought a new position in shares of Ambev in the first quarter worth about $30,000. Institutional investors own 8.35% of the company’s stock.

Ambev Company Profile

(Free Report)

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.

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