Ambev S.A. (ABEV) Given Outperform Rating at Evercore ISI

Ambev S.A. (NYSE:ABEV)‘s stock had its “outperform” rating reaffirmed by equities research analysts at Evercore ISI in a report issued on Friday. They presently have a $8.50 target price on the stock, up from their previous target price of $7.00. Evercore ISI’s price objective would indicate a potential upside of 25.18% from the company’s previous close.

Several other equities research analysts also recently weighed in on ABEV. BidaskClub downgraded shares of Ambev from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 28th. Barclays PLC restated a “hold” rating on shares of Ambev in a research report on Sunday, July 30th. Zacks Investment Research downgraded shares of Ambev from a “buy” rating to a “hold” rating in a research report on Thursday, October 5th. Finally, Credit Suisse Group upgraded shares of Ambev from a “neutral” rating to an “outperform” rating in a research report on Tuesday, September 12th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $6.90.

Ambev (NYSE:ABEV) last announced its earnings results on Thursday, July 27th. The company reported $0.04 earnings per share for the quarter, hitting the consensus estimate of $0.04. Ambev had a net margin of 27.14% and a return on equity of 23.24%. The business had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.33 billion.

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Large investors have recently made changes to their positions in the stock. Raymond James Financial Services Advisors Inc. increased its holdings in Ambev by 1.0% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 40,090 shares of the company’s stock valued at $220,000 after buying an additional 381 shares in the last quarter. Earnest Partners LLC increased its holdings in Ambev by 2.1% in the first quarter. Earnest Partners LLC now owns 45,846 shares of the company’s stock valued at $264,000 after buying an additional 930 shares in the last quarter. Advisory Services Network LLC increased its holdings in Ambev by 1.0% in the second quarter. Advisory Services Network LLC now owns 179,401 shares of the company’s stock valued at $985,000 after buying an additional 1,700 shares in the last quarter. Telemus Capital LLC increased its holdings in Ambev by 2.6% in the second quarter. Telemus Capital LLC now owns 69,234 shares of the company’s stock valued at $380,000 after buying an additional 1,729 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. increased its holdings in Ambev by 6.1% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 34,318 shares of the company’s stock valued at $188,000 after buying an additional 1,971 shares in the last quarter. Hedge funds and other institutional investors own 7.30% of the company’s stock.

About Ambev

Ambev SA, formerly Inbev Participacoes Societarias SA, is a Brazil-based company engaged in the brewing sector. The Company produces and sells beer, carbonated soft drinks (CSDs) and other non-alcoholic and non-carbonated (NANC) beverages across the Americas. The Company’s activities are divided into three segments: Latin America North, including sell of beer, CSD and NANC drinks in Brazil, as well as operations in Dominican Republic, Saint Vincent, Antigua, Dominica, Guatemala, El Salvador, Nicaragua and Cuba; Latin America South, distributing products in Argentina, Bolivia, Paraguay, Uruguay, Chile, Ecuador, Peru and Colombia, and Canada, represented by Labatt’s operations, which comprises sales in Canada.

Analyst Recommendations for Ambev (NYSE:ABEV)

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