Coca-Cola European Partners PLC (CCE) Upgraded by Zacks Investment Research to “Buy”

Coca-Cola European Partners PLC (NYSE:CCE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Monday. The brokerage currently has a $46.00 price objective on the stock. Zacks Investment Research‘s price target would suggest a potential upside of 11.92% from the stock’s previous close.

According to Zacks, “Coca-Cola European Partners PLC is a consumer packaged goods company. It is engaged in producing, distributing and marketing nonalcoholic ready-to-drink beverages. It operates primarily in Andorra, Belgium, continental France, Germany, Great Britain, Luxembourg, Monaco, the Netherlands, Norway, Portugal, Spain and Sweden. Coca-Cola European Partners PLC, formerly known as Coca-Cola Enterprises Inc., is headquartered in Uxbridge, United Kingdom. “

CCE has been the topic of several other reports. BidaskClub downgraded Coca-Cola European Partners PLC from a “buy” rating to a “hold” rating in a report on Saturday, August 26th. Barclays PLC reaffirmed a “buy” rating and set a $46.00 target price on shares of Coca-Cola European Partners PLC in a report on Friday, July 21st. UBS AG reaffirmed a “buy” rating and set a $50.00 target price (up from $46.00) on shares of Coca-Cola European Partners PLC in a report on Monday, August 14th. Jefferies Group LLC reaffirmed a “hold” rating and set a $42.00 target price on shares of Coca-Cola European Partners PLC in a report on Wednesday, June 14th. Finally, Macquarie started coverage on Coca-Cola European Partners PLC in a report on Thursday, September 14th. They set an “outperform” rating and a $46.00 target price on the stock. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $45.33.

Coca-Cola European Partners PLC (NYSE:CCE) traded up 0.69% during midday trading on Monday, reaching $41.10. The company had a trading volume of 1,070,937 shares. Coca-Cola European Partners PLC has a 12-month low of $30.55 and a 12-month high of $44.75. The stock has a 50-day moving average price of $42.11 and a 200 day moving average price of $40.79. The company has a market capitalization of $19.90 billion, a PE ratio of 21.34 and a beta of 0.94.

Coca-Cola European Partners PLC (NYSE:CCE) last announced its earnings results on Thursday, August 10th. The company reported $0.74 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.64 by $0.10. The firm had revenue of $3.05 billion for the quarter, compared to the consensus estimate of $2.77 billion. Coca-Cola European Partners PLC had a return on equity of 15.52% and a net margin of 6.93%. During the same period in the previous year, the business earned $0.56 EPS. Equities analysts forecast that Coca-Cola European Partners PLC will post $2.50 EPS for the current year.

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A number of institutional investors have recently modified their holdings of the stock. Perpetual Ltd increased its position in Coca-Cola European Partners PLC by 2.1% in the 2nd quarter. Perpetual Ltd now owns 88,382 shares of the company’s stock valued at $3,594,000 after buying an additional 1,800 shares in the last quarter. Phocas Financial Corp. bought a new stake in Coca-Cola European Partners PLC in the 2nd quarter valued at about $182,000. Koch Industries Inc. bought a new stake in Coca-Cola European Partners PLC in the 2nd quarter valued at about $218,000. Raymond James Financial Services Advisors Inc. bought a new stake in Coca-Cola European Partners PLC in the 2nd quarter valued at about $238,000. Finally, The Manufacturers Life Insurance Company increased its position in Coca-Cola European Partners PLC by 9,586.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 131,729 shares of the company’s stock valued at $5,358,000 after buying an additional 130,369 shares in the last quarter. 29.63% of the stock is owned by institutional investors and hedge funds.

About Coca-Cola European Partners PLC

Coca-Cola Enterprises, Inc (CCE) markets, produces and distributes nonalcoholic beverages. The Company serves customers across Belgium, continental France, Great Britain, Luxembourg, Monaco, the Netherlands, Norway and Sweden. The Company’s segments include Europe and Corporate. CCE is The Coca-Cola Company’s strategic bottling partner in Western Europe.

Analyst Recommendations for Coca-Cola European Partners PLC (NYSE:CCE)

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