Coca-Cola HBC (OTCMKTS:CCHGY) Trading 3.7% Higher – Here’s What Happened

Shares of Coca-Cola HBC (OTCMKTS:CCHGY) rose 3.7% during mid-day trading on Wednesday . The stock traded as high as $53.74 and last traded at $53.74. Approximately 444 shares changed hands during mid-day trading, a decline of 95% from the average daily volume of 9,081 shares. The stock had previously closed at $51.82.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CCHGY. Morgan Stanley began coverage on Coca-Cola HBC in a research report on Thursday, October 2nd. They set an “overweight” rating for the company. Zacks Research downgraded shares of Coca-Cola HBC from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 3rd. Finally, Wall Street Zen raised shares of Coca-Cola HBC from a “hold” rating to a “buy” rating in a report on Tuesday, November 18th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Buy”.

Coca-Cola HBC Trading Up 2.4%

The company has a debt-to-equity ratio of 0.89, a current ratio of 1.14 and a quick ratio of 0.92. The stock has a 50-day simple moving average of $48.59 and a 200-day simple moving average of $49.90.

Coca-Cola HBC Company Profile

Coca-Cola HBC (OTCMKTS:CCHGY) is a major bottling partner for The Coca-Cola Company, engaged in the production, packaging, distribution and marketing of nonalcoholic beverages. As a concentrate licensee and bottler, the company manufactures and sells a broad portfolio of branded soft drinks, waters, juices, ready-to-drink teas, sports and energy drinks, and other still beverages under global and local brands. Its operations cover the full bottling value chain, from procurement of raw materials and bottling to route-to-market distribution and retail execution.

The company’s activities encompass manufacturing at local bottling plants, supply chain and logistics management, commercial and customer-facing sales, and marketing support for both global Coca‑Cola brands and regionally tailored products.