Treasury Wine Estates (OTCMKTS:TSRYY) Shares Gap Up – Time to Buy?

Treasury Wine Estates Ltd. (OTCMKTS:TSRYY)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $2.59, but opened at $2.7375. Treasury Wine Estates shares last traded at $2.7350, with a volume of 41,746 shares trading hands.

Analyst Ratings Changes

Several equities analysts have weighed in on TSRYY shares. Royal Bank Of Canada cut Treasury Wine Estates from a “moderate buy” rating to a “hold” rating in a research note on Thursday, December 18th. UBS Group cut Treasury Wine Estates from a “hold” rating to a “strong sell” rating in a research note on Friday, February 6th. Jefferies Financial Group cut Treasury Wine Estates from a “strong-buy” rating to a “hold” rating and set a $5.20 target price on the stock. in a research note on Wednesday, December 17th. Finally, Citigroup cut Treasury Wine Estates from a “hold” rating to a “strong sell” rating in a research note on Wednesday, January 14th. Two investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average target price of $5.20.

Treasury Wine Estates Price Performance

The stock has a 50 day moving average of $3.05 and a 200-day moving average of $3.57.

Treasury Wine Estates Company Profile

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.