Molson Coors Beverage (NYSE:TAP) Stock Rating Upgraded by Barclays

Molson Coors Beverage (NYSE:TAP) was upgraded by Barclays from an “underweight” rating to an “equal weight” rating in a note issued to investors on Thursday, MarketBeat Ratings reports. The brokerage currently has a $62.00 target price on the stock, up from their previous target price of $56.00. Barclays‘s target price would indicate a potential upside of 3.89% from the stock’s previous close.

Several other analysts also recently commented on TAP. Morgan Stanley increased their target price on shares of Molson Coors Beverage from $60.00 to $63.00 and gave the company an “equal weight” rating in a report on Friday, February 14th. StockNews.com downgraded shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a report on Friday, February 21st. Needham & Company LLC reiterated a “buy” rating and issued a $72.00 target price on shares of Molson Coors Beverage in a report on Wednesday, February 12th. UBS Group raised their price objective on shares of Molson Coors Beverage from $58.00 to $63.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. Finally, Citigroup upgraded shares of Molson Coors Beverage from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $47.00 to $57.00 in a report on Wednesday, February 5th. Eleven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $63.67.

Molson Coors Beverage Stock Up 1.6 %

Molson Coors Beverage stock opened at $59.68 on Thursday. Molson Coors Beverage has a 1-year low of $49.19 and a 1-year high of $69.18. The firm has a market capitalization of $12.09 billion, a price-to-earnings ratio of 11.15, a price-to-earnings-growth ratio of 1.52 and a beta of 0.81. The firm’s fifty day moving average price is $57.08 and its two-hundred day moving average price is $57.31. The company has a current ratio of 0.94, a quick ratio of 0.70 and a debt-to-equity ratio of 0.46.

Molson Coors Beverage (NYSE:TAP) last announced its earnings results on Thursday, February 13th. The company reported $1.30 EPS for the quarter, beating the consensus estimate of $1.17 by $0.13. The company had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.71 billion. Molson Coors Beverage had a net margin of 8.17% and a return on equity of 9.34%. On average, equities research analysts predict that Molson Coors Beverage will post 6.35 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Molson Coors Beverage

Several large investors have recently modified their holdings of the business. Lansforsakringar Fondforvaltning AB publ bought a new position in shares of Molson Coors Beverage in the fourth quarter valued at approximately $3,338,000. Siemens Fonds Invest GmbH bought a new position in shares of Molson Coors Beverage in the fourth quarter valued at approximately $4,538,000. QSM Asset Management Ltd bought a new position in shares of Molson Coors Beverage in the fourth quarter valued at approximately $6,693,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Molson Coors Beverage in the fourth quarter valued at approximately $7,422,000. Finally, Polar Asset Management Partners Inc. bought a new position in shares of Molson Coors Beverage in the fourth quarter valued at approximately $1,576,000. Hedge funds and other institutional investors own 78.46% of the company’s stock.

Molson Coors Beverage Company Profile

Molson Coors Beverage Company manufactures, markets, and sells beer and other malt beverage products under various brands in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers flavored malt beverages including hard seltzers, craft, spirits and energy, and ready to drink beverages.