Zacks Investment Research upgraded shares of Ambev S.A. (NYSE:ABEV) from a hold rating to a buy rating in a research report report published on Monday morning. Zacks Investment Research currently has $7.50 price objective on the stock.

According to Zacks, “Companhia de Bebidas das Americas (AmBev), based in São Paulo, is engaged in producing, distributing and selling beer, carbonated soft drinks and other non-alcoholic and non-carbonated products in many countries across the Americas. It maintains an agreement with PepsiCo International, Inc. to bottle, sell and distribute Pepsi products in Brazil and in other Latin American countries, including Lipton Ice Tea, Gatorade, H2OH!, Propel and Frutzzz. AmBev conducts its operations through three business units: Latin America North, Latin America South and Canada. Latin America North includes its operations in Brazil, where it operates two divisions: beer sales and carbonated soft drinks and non-alcoholic non-carbonated sales; and its operations in its Hispanic Latin America Operations, excluding Latin America South, operations. Latin America South includes its Quinsa operations in the countries of Argentina, Bolivia, Paraguay, Uruguay and Chile. Canada, represented by Labatt, includes domestic sales in Canada. “

Other analysts have also issued reports about the stock. Barclays PLC reiterated a hold rating on shares of Ambev in a research report on Sunday, July 30th. BidaskClub lowered shares of Ambev from a strong-buy rating to a buy rating in a research report on Thursday, September 28th. Finally, Credit Suisse Group upgraded shares of Ambev from a neutral rating to an outperform rating in a research report on Tuesday, September 12th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Ambev presently has a consensus rating of Buy and a consensus price target of $6.48.

Ambev (ABEV) opened at 6.68 on Monday. Ambev has a 1-year low of $4.70 and a 1-year high of $6.86. The firm has a 50-day moving average of $6.48 and a 200-day moving average of $5.94. The stock has a market capitalization of $104.92 billion, a price-to-earnings ratio of 27.95 and a beta of 0.66.

Ambev (NYSE:ABEV) last released its quarterly earnings results on Thursday, July 27th. The company reported $0.04 EPS for the quarter, meeting the consensus estimate of $0.04. The business had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.33 billion. Ambev had a net margin of 27.14% and a return on equity of 23.24%. Equities research analysts anticipate that Ambev will post $0.23 EPS for the current year.

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Several hedge funds have recently added to or reduced their stakes in ABEV. BlackRock Inc. grew its position in shares of Ambev by 12,519.6% in the first quarter. BlackRock Inc. now owns 29,177,225 shares of the company’s stock valued at $168,061,000 after purchasing an additional 28,946,020 shares during the last quarter. Artisan Partners Limited Partnership grew its position in shares of Ambev by 275.2% in the second quarter. Artisan Partners Limited Partnership now owns 31,901,018 shares of the company’s stock valued at $175,137,000 after purchasing an additional 23,398,802 shares during the last quarter. BNP Paribas Arbitrage SA grew its position in shares of Ambev by 2,289.5% in the second quarter. BNP Paribas Arbitrage SA now owns 17,749,400 shares of the company’s stock valued at $97,444,000 after purchasing an additional 17,006,598 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Ambev by 17.3% in the second quarter. JPMorgan Chase & Co. now owns 86,117,491 shares of the company’s stock valued at $472,786,000 after purchasing an additional 12,723,137 shares during the last quarter. Finally, Vontobel Asset Management Inc. grew its position in shares of Ambev by 4.6% in the second quarter. Vontobel Asset Management Inc. now owns 168,685,140 shares of the company’s stock valued at $942,525,000 after purchasing an additional 7,409,229 shares during the last quarter. Institutional investors and hedge funds own 7.30% of the company’s stock.

Ambev Company Profile

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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Analyst Recommendations for Ambev (NYSE:ABEV)

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