Needham & Company LLC Reiterates “Buy” Rating for Constellation Brands (NYSE:STZ)

Constellation Brands (NYSE:STZ)‘s stock had its “buy” rating reissued by investment analysts at Needham & Company LLC in a research report issued to clients and investors on Tuesday,Benzinga reports. They currently have a $180.00 target price on the stock. Needham & Company LLC’s price objective points to a potential upside of 26.34% from the company’s current price.

A number of other research firms also recently issued reports on STZ. The Goldman Sachs Group dropped their price target on Constellation Brands from $196.00 to $168.00 and set a “buy” rating on the stock in a research report on Thursday, October 2nd. Wells Fargo & Company upped their price objective on shares of Constellation Brands from $155.00 to $160.00 and gave the company an “overweight” rating in a report on Monday. Weiss Ratings reiterated a “sell (d+)” rating on shares of Constellation Brands in a research report on Monday, December 29th. Citigroup lowered their price target on Constellation Brands from $155.00 to $145.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 23rd. Finally, UBS Group set a $160.00 price target on shares of Constellation Brands in a research note on Tuesday, October 7th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, ten have given a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $182.17.

Constellation Brands Stock Up 0.9%

Shares of STZ opened at $142.48 on Tuesday. The company has a market capitalization of $24.94 billion, a PE ratio of 20.80, a price-to-earnings-growth ratio of 0.42 and a beta of 0.45. The company has a current ratio of 1.08, a quick ratio of 0.54 and a debt-to-equity ratio of 1.26. Constellation Brands has a 12-month low of $126.45 and a 12-month high of $228.89. The business’s 50 day moving average is $136.15 and its 200 day moving average is $148.81.

Constellation Brands (NYSE:STZ) last released its quarterly earnings data on Thursday, February 23rd. The company reported $3.12 EPS for the quarter. The business had revenue of $2.32 billion during the quarter. Constellation Brands had a net margin of 11.88% and a return on equity of 29.82%. Research analysts expect that Constellation Brands will post 13.5 earnings per share for the current fiscal year.

Institutional Trading of Constellation Brands

A number of hedge funds have recently added to or reduced their stakes in STZ. AlphaQuest LLC boosted its stake in shares of Constellation Brands by 350.7% in the second quarter. AlphaQuest LLC now owns 5,178 shares of the company’s stock worth $842,000 after buying an additional 4,029 shares during the last quarter. Arlington Partners LLC purchased a new stake in Constellation Brands in the 2nd quarter worth approximately $2,333,000. 49 Wealth Management LLC acquired a new stake in shares of Constellation Brands during the 2nd quarter worth approximately $373,000. Heritage Investors Management Corp increased its holdings in shares of Constellation Brands by 6.2% during the 2nd quarter. Heritage Investors Management Corp now owns 146,827 shares of the company’s stock valued at $23,886,000 after purchasing an additional 8,613 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in shares of Constellation Brands by 969.5% in the 2nd quarter. Assenagon Asset Management S.A. now owns 83,656 shares of the company’s stock valued at $13,609,000 after purchasing an additional 75,834 shares during the period. 77.34% of the stock is owned by institutional investors and hedge funds.

About Constellation Brands

Constellation Brands, Inc is a leading producer and marketer of beer, wine and spirits, with operations spanning production, importation, marketing and distribution. The company’s beverage portfolio includes a range of premium and mainstream wines and spirits alongside major imported beer brands; in the U.S. market Constellation is widely known for its role in bringing Mexican imports such as Corona and Modelo to American consumers. Constellation supplies retail, on‑premise and foodservice channels and supports its brands with national sales and marketing platforms and supply‑chain capabilities.

The company traces its roots to the Canandaigua Wine Company, founded by Marvin Sands in 1945, and evolved through organic growth and acquisition into a diversified beverage company.