Ambev (NYSE:ABEV) Earns Buy Rating from Analysts at StockNews.com

Equities researchers at StockNews.com initiated coverage on shares of Ambev (NYSE:ABEV) in a report issued on Sunday. The firm set a “buy” rating on the stock.

Separately, Bank of America cut shares of Ambev from a “buy” rating to a “neutral” rating in a report on Friday. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $2.70.

Ambev Stock Performance

Shares of ABEV opened at $1.79 on Friday. The firm has a market capitalization of $28.12 billion, a PE ratio of 9.92, a P/E/G ratio of 5.23 and a beta of 1.05. The company has a quick ratio of 0.89, a current ratio of 1.20 and a debt-to-equity ratio of 0.02. The firm has a 50-day moving average price of $2.05 and a 200 day moving average price of $2.19. Ambev has a 52-week low of $1.76 and a 52-week high of $2.72.

Institutional Trading of Ambev

Large investors have recently added to or reduced their stakes in the business. Marshall Wace LLP boosted its position in shares of Ambev by 324.8% in the 2nd quarter. Marshall Wace LLP now owns 8,324,037 shares of the company’s stock valued at $17,064,000 after purchasing an additional 6,364,592 shares during the period. Kiltearn Partners LLP boosted its holdings in shares of Ambev by 43.3% in the second quarter. Kiltearn Partners LLP now owns 14,575,900 shares of the company’s stock worth $29,881,000 after buying an additional 4,407,800 shares during the period. Private Management Group Inc. increased its position in shares of Ambev by 43.8% in the third quarter. Private Management Group Inc. now owns 13,428,352 shares of the company’s stock worth $32,765,000 after acquiring an additional 4,087,442 shares in the last quarter. Altrius Capital Management Inc acquired a new stake in shares of Ambev during the third quarter valued at approximately $8,630,000. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of Ambev by 33.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 13,236,234 shares of the company’s stock valued at $32,296,000 after acquiring an additional 3,322,952 shares in the last quarter. 8.13% of the stock is currently owned by institutional investors.

About Ambev

Ambev SA, through its subsidiaries, engages in the production, distribution, and sale of beer, draft beer, carbonated soft drinks, malt and food, other alcoholic beverages, and non-alcoholic and non-carbonated products in Brazil, Central America and Caribbean, Latin America South, and Canada. It offers beer primarily under the Skol, Brahma, Antarctica, Brahva, Budweiser, Bud Light, Beck, Leffe, Hoegaarden, Balboa ICE, Balboa, Atlas Golden Light, Atlas, Bucanero, Cristal, Mayabe, Presidente, Presidente Light, Brahma Light, Bohemia, The One, Corona, Modelo Especial, Stella Artois, Quilmes Clásica, Paceña, Taquiña, Huari, Becker, Cusqueña, Michelob Ultra, Busch, Pilsen, Ouro Fino, Bud 66, Banks, Deputy, Patricia, Labatt Blue, Alexander Keith’s, and Kokanee brands.