Ambev (NYSE:ABEV) Sets New 12-Month High – Here’s Why

Ambev S.A. (NYSE:ABEV) shares reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $2.63 and last traded at $2.5850, with a volume of 4389452 shares. The stock had previously closed at $2.57.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Zacks Research upgraded shares of Ambev from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 30th. Weiss Ratings reiterated a “hold (c)” rating on shares of Ambev in a report on Tuesday, November 25th. UBS Group cut their price target on Ambev from $2.50 to $2.20 and set a “neutral” rating on the stock in a research note on Wednesday, August 20th. Finally, Sanford C. Bernstein reiterated a “market perform” rating and set a $2.88 price objective on shares of Ambev in a research note on Wednesday, November 26th. Nine equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus price target of $2.53.

Ambev Trading Up 0.2%

The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.80 and a current ratio of 1.11. The firm has a market cap of $40.58 billion, a PE ratio of 16.09, a price-to-earnings-growth ratio of 2.19 and a beta of 0.85. The stock has a 50-day simple moving average of $2.33 and a two-hundred day simple moving average of $2.34.

Ambev (NYSE:ABEV) last announced its quarterly earnings results on Thursday, October 30th. The company reported $0.04 EPS for the quarter, hitting analysts’ consensus estimates of $0.04. The firm had revenue of $3.90 billion during the quarter, compared to analyst estimates of $3.97 billion. Ambev had a net margin of 16.18% and a return on equity of 15.39%. As a group, sell-side analysts anticipate that Ambev S.A. will post 0.18 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Abacus Wealth Partners LLC bought a new stake in shares of Ambev during the 2nd quarter valued at about $25,000. First Trust Advisors LP purchased a new position in shares of Ambev in the third quarter worth approximately $25,000. Integrated Wealth Concepts LLC purchased a new position in shares of Ambev in the first quarter worth approximately $26,000. Modern Wealth Management LLC bought a new stake in Ambev during the third quarter valued at approximately $25,000. Finally, Bensler LLC purchased a new stake in Ambev during the third quarter valued at approximately $27,000. 8.13% of the stock is owned by hedge funds and other institutional investors.

Ambev Company Profile

Ambev SA, through its subsidiaries, engages in the production, distribution, and sale of beer, draft beer, carbonated soft drinks, malt and food, other alcoholic beverages, and non-alcoholic and non-carbonated products in Brazil, Central America and Caribbean, Latin America South, and Canada. It offers beer primarily under the Skol, Brahma, Antarctica, Brahva, Budweiser, Bud Light, Beck, Leffe, Hoegaarden, Balboa ICE, Balboa, Atlas Golden Light, Atlas, Bucanero, Cristal, Mayabe, Presidente, Presidente Light, Brahma Light, Bohemia, The One, Corona, Modelo Especial, Stella Artois, Quilmes Clásica, Paceña, Taquiña, Huari, Becker, Cusqueña, Michelob Ultra, Busch, Pilsen, Ouro Fino, Bud 66, Banks, Deputy, Patricia, Labatt Blue, Alexander Keith’s, and Kokanee brands.