Treasury Wine Estates (OTCMKTS:TSRYY) Shares Gap Down – What’s Next?

Treasury Wine Estates Ltd. (OTCMKTS:TSRYY)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $3.69, but opened at $3.46. Treasury Wine Estates shares last traded at $3.30, with a volume of 175,986 shares traded.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Jefferies Financial Group lowered Treasury Wine Estates from a “strong-buy” rating to a “hold” rating and set a $5.20 target price for the company. in a report on Wednesday, December 17th. Citigroup cut shares of Treasury Wine Estates from a “hold” rating to a “strong sell” rating in a report on Wednesday, January 14th. Royal Bank Of Canada lowered shares of Treasury Wine Estates from a “moderate buy” rating to a “hold” rating in a research note on Thursday, December 18th. Finally, UBS Group lowered shares of Treasury Wine Estates from a “hold” rating to a “strong sell” rating in a research note on Friday, February 6th. Two analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average price target of $5.20.

Treasury Wine Estates Price Performance

The company’s 50-day simple moving average is $3.55 and its 200 day simple moving average is $4.13.

About Treasury Wine Estates

Treasury Wine Estates is a Melbourne‐based global wine company that produces, markets and distributes a broad portfolio of wines. Its portfolio spans premium, luxury and commercial brands, including Penfolds, Beringer, Stags’ Leap Family Vineyards, Wolf Blass, Lindeman’s and Matua. The company sources fruit from a mix of owned vineyards and long-term grower partnerships across key wine regions in Australia, California and New Zealand.

The business was established in 2011 following a demerger from Foster’s Group and traces its heritage back to the founding of Penfolds in 1844.