Bank of America Downgrades Ambev (NYSE:ABEV) to Neutral

Ambev (NYSE:ABEV) was downgraded by stock analysts at Bank of America from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Friday,Briefing.com Automated Import reports.

Separately, StockNews.com initiated coverage on Ambev in a report on Saturday, January 11th. They issued a “buy” rating for the company. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $2.70.

Ambev Stock Performance

ABEV opened at $1.81 on Friday. The business’s 50-day simple moving average is $2.06 and its 200 day simple moving average is $2.19. Ambev has a 52-week low of $1.76 and a 52-week high of $2.73. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.89 and a current ratio of 1.20. The firm has a market capitalization of $28.44 billion, a PE ratio of 10.03, a PEG ratio of 5.23 and a beta of 1.05.

Institutional Trading of Ambev

Several institutional investors and hedge funds have recently bought and sold shares of ABEV. Atomi Financial Group Inc. increased its holdings in shares of Ambev by 13.8% in the fourth quarter. Atomi Financial Group Inc. now owns 81,547 shares of the company’s stock valued at $151,000 after purchasing an additional 9,866 shares during the last quarter. Perpetual Ltd grew its stake in Ambev by 3.5% in the 4th quarter. Perpetual Ltd now owns 3,134,940 shares of the company’s stock valued at $5,800,000 after buying an additional 105,819 shares during the last quarter. Aspiriant LLC lifted its position in Ambev by 34.1% during the fourth quarter. Aspiriant LLC now owns 33,635 shares of the company’s stock worth $62,000 after acquiring an additional 8,547 shares during the last quarter. Crossmark Global Holdings Inc. boosted its holdings in shares of Ambev by 17.4% during the fourth quarter. Crossmark Global Holdings Inc. now owns 113,416 shares of the company’s stock worth $210,000 after acquiring an additional 16,833 shares during the period. Finally, Sendero Wealth Management LLC acquired a new position in shares of Ambev in the fourth quarter valued at approximately $40,000. Institutional investors own 8.13% of the company’s stock.

Ambev Company Profile

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.