Treasury Wine Estates (OTCMKTS:TSRYY) Shares Gap Up – Here’s Why

Treasury Wine Estates Ltd. (OTCMKTS:TSRYY)’s share price gapped up before the market opened on Friday. The stock had previously closed at $3.8750, but opened at $4.12. Treasury Wine Estates shares last traded at $4.12, with a volume of 265 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on TSRYY. The Goldman Sachs Group began coverage on shares of Treasury Wine Estates in a research note on Tuesday, June 23rd. They set a “neutral” rating and a $5.20 target price on the stock. UBS Group upgraded Treasury Wine Estates from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 1st. One research analyst has rated the stock with a Strong Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, Treasury Wine Estates has a consensus rating of “Hold” and a consensus price target of $5.20.

Treasury Wine Estates Stock Up 1.2%

The firm has a 50 day simple moving average of $3.84 and a two-hundred day simple moving average of $3.36.

Institutional Trading of Treasury Wine Estates

A hedge fund recently bought a new stake in Treasury Wine Estates stock. Ferguson Wellman Capital Management Inc. acquired a new stake in shares of Treasury Wine Estates Ltd. (OTCMKTS:TSRYY) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 10,000 shares of the company’s stock, valued at approximately $33,000.

About Treasury Wine Estates

Treasury Wine Estates Limited is an Australian wine company that produces, markets and distributes a portfolio of premium and luxury wines. The company’s brand portfolio includes Penfolds, Wolf Blass, Wynns, Seppelt, Pepperjack, Beringer, 19 Crimes, Matua, Sterling Vineyards and Stags’ Leap Winery, among others. Its offerings span a range of wine styles, price points and geographic origins.

Treasury Wine Estates sources grapes and operates wineries and vineyards across major wine-producing regions, including Australia, New Zealand and the United States.