Molson Coors Beverage (NYSE:TAP) Stock Price Expected to Rise, Barclays Analyst Says

Molson Coors Beverage (NYSE:TAP) had its target price raised by equities research analysts at Barclays from $48.00 to $56.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has an “underweight” rating on the stock. Barclays‘s price objective would suggest a potential downside of 7.17% from the company’s previous close.

Other analysts also recently issued reports about the stock. Bank of America upgraded shares of Molson Coors Beverage from a “neutral” rating to a “buy” rating and increased their price target for the company from $57.00 to $70.00 in a research report on Friday, December 6th. Wells Fargo & Company raised shares of Molson Coors Beverage from an “underweight” rating to an “overweight” rating and lifted their price target for the stock from $52.00 to $74.00 in a research report on Friday, November 8th. Needham & Company LLC restated a “buy” rating and issued a $72.00 price objective on shares of Molson Coors Beverage in a research report on Wednesday, February 12th. StockNews.com raised Molson Coors Beverage from a “hold” rating to a “buy” rating in a research note on Thursday, February 13th. Finally, JPMorgan Chase & Co. dropped their price target on Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating on the stock in a research report on Thursday, January 30th. One analyst has rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Molson Coors Beverage has a consensus rating of “Hold” and a consensus target price of $63.27.

Molson Coors Beverage Stock Up 3.0 %

Shares of NYSE:TAP opened at $60.33 on Tuesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.99 and a quick ratio of 0.74. The stock has a market cap of $12.43 billion, a price-to-earnings ratio of 13.59, a P/E/G ratio of 2.07 and a beta of 0.85. The company has a 50 day moving average of $56.48 and a 200-day moving average of $56.41. Molson Coors Beverage has a one year low of $49.19 and a one year high of $69.18.

Molson Coors Beverage (NYSE:TAP) last announced its quarterly earnings data on Thursday, February 13th. The company reported $1.30 EPS for the quarter, topping analysts’ consensus estimates of $1.17 by $0.13. Molson Coors Beverage had a return on equity of 9.24% and a net margin of 6.78%. The business had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.71 billion. On average, sell-side analysts forecast that Molson Coors Beverage will post 5.79 earnings per share for the current year.

Institutional Investors Weigh In On Molson Coors Beverage

A number of institutional investors and hedge funds have recently modified their holdings of TAP. Clark Estates Inc. NY increased its position in Molson Coors Beverage by 18.1% during the third quarter. Clark Estates Inc. NY now owns 60,000 shares of the company’s stock worth $3,451,000 after buying an additional 9,200 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Molson Coors Beverage by 1.6% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 35,572 shares of the company’s stock worth $2,046,000 after acquiring an additional 563 shares during the last quarter. Wilsey Asset Management Inc. raised its stake in Molson Coors Beverage by 1.6% in the 4th quarter. Wilsey Asset Management Inc. now owns 550,539 shares of the company’s stock valued at $31,557,000 after acquiring an additional 8,679 shares during the period. Qsemble Capital Management LP lifted its holdings in Molson Coors Beverage by 23.5% during the 3rd quarter. Qsemble Capital Management LP now owns 48,474 shares of the company’s stock valued at $2,788,000 after purchasing an additional 9,234 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its position in Molson Coors Beverage by 4.7% during the third quarter. Principal Financial Group Inc. now owns 211,812 shares of the company’s stock worth $12,183,000 after purchasing an additional 9,510 shares during the period. 78.46% of the stock is owned by institutional investors.

Molson Coors Beverage Company Profile

Molson Coors Beverage Company manufactures, markets, and sells beer and other malt beverage products under various brands in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers flavored malt beverages including hard seltzers, craft, spirits and energy, and ready to drink beverages.