Treasury Wine Estates (OTCMKTS:TSRYY) Shares Gap Down – Here’s Why

Treasury Wine Estates Ltd. (OTCMKTS:TSRYY) shares gapped down before the market opened on Wednesday . The stock had previously closed at $2.90, but opened at $2.76. Treasury Wine Estates shares last traded at $2.86, with a volume of 2,181 shares trading hands.

Analyst Upgrades and Downgrades

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

Treasury Wine Estates Stock Down 2.1%

The business has a 50 day simple moving average of $3.42 and a 200-day simple moving average of $3.92.

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.