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.
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.
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