Constellation Brands (NYSE:STZ) Receives “Buy” Rating from SunTrust Banks

Constellation Brands (NYSE:STZ)‘s stock had its “buy” rating reissued by equities researchers at SunTrust Banks in a research report issued to clients and investors on Monday, January 8th, Marketbeat reports. They presently have a $250.00 price objective on the stock, up from their previous price objective of $230.00. SunTrust Banks’ target price suggests a potential upside of 15.80% from the company’s current price. SunTrust Banks also issued estimates for Constellation Brands’ FY2019 earnings at $10.26 EPS.

Several other research analysts have also weighed in on the stock. Susquehanna Bancshares set a $207.00 price objective on shares of Constellation Brands and gave the stock a “hold” rating in a research note on Sunday, January 7th. Evercore ISI lifted their price target on shares of Constellation Brands from $235.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, January 5th. Wells Fargo & Co lifted their price target on shares of Constellation Brands from $235.00 to $260.00 and gave the company an “outperform” rating in a research note on Thursday, January 4th. Macquarie boosted their price objective on shares of Constellation Brands from $246.00 to $250.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 3rd. Finally, Zacks Investment Research raised shares of Constellation Brands from a “hold” rating to a “buy” rating and set a $249.00 price objective on the stock in a research report on Monday, December 18th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. Constellation Brands has a consensus rating of “Buy” and an average target price of $232.80.

Constellation Brands (NYSE:STZ) traded down $4.80 on Monday, reaching $215.89. 1,640,827 shares of the company’s stock traded hands, compared to its average volume of 2,230,000. Constellation Brands has a 52-week low of $148.38 and a 52-week high of $229.50. The company has a quick ratio of 0.54, a current ratio of 1.40 and a debt-to-equity ratio of 1.01. The firm has a market cap of $42,030.00, a PE ratio of 26.23, a PEG ratio of 1.35 and a beta of 0.11.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings results on Friday, January 5th. The company reported $2.00 EPS for the quarter, topping the consensus estimate of $1.87 by $0.13. Constellation Brands had a net margin of 22.55% and a return on equity of 22.04%. The company had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.87 billion. During the same quarter in the previous year, the company earned $1.96 EPS. sell-side analysts expect that Constellation Brands will post 8.53 EPS for the current fiscal year.

Constellation Brands announced that its board has authorized a stock buyback program on Friday, January 5th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the company to buy shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

In other news, Director Barry A. Fromberg sold 2,005 shares of the company’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $220.42, for a total value of $441,942.10. Following the completion of the transaction, the director now owns 20,790 shares of the company’s stock, valued at $4,582,531.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Thomas J. Mullin sold 18,227 shares of the company’s stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $217.01, for a total value of $3,955,441.27. Following the completion of the transaction, the vice president now directly owns 72,924 shares of the company’s stock, valued at approximately $15,825,237.24. The disclosure for this sale can be found here. Corporate insiders own 15.59% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in STZ. Veritable L.P. increased its position in Constellation Brands by 1.8% during the 2nd quarter. Veritable L.P. now owns 3,447 shares of the company’s stock valued at $668,000 after purchasing an additional 61 shares during the period. Princeton Portfolio Strategies Group LLC grew its position in shares of Constellation Brands by 3.3% during the 2nd quarter. Princeton Portfolio Strategies Group LLC now owns 2,352 shares of the company’s stock worth $456,000 after buying an additional 75 shares during the period. Thrivent Financial For Lutherans grew its position in shares of Constellation Brands by 1.4% during the 2nd quarter. Thrivent Financial For Lutherans now owns 6,440 shares of the company’s stock worth $1,248,000 after buying an additional 90 shares during the period. WFG Advisors LP grew its position in shares of Constellation Brands by 7.3% during the 2nd quarter. WFG Advisors LP now owns 1,364 shares of the company’s stock worth $264,000 after buying an additional 93 shares during the period. Finally, Zacks Investment Management grew its position in shares of Constellation Brands by 11.6% during the 2nd quarter. Zacks Investment Management now owns 1,496 shares of the company’s stock worth $290,000 after buying an additional 156 shares during the period. 75.42% of the stock is owned by institutional investors.

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About Constellation Brands

Constellation Brands, Inc is an international beverage alcohol company. The Company is a producer and marketer of beer, wine and spirits with operations in the United States, Canada, Mexico, New Zealand and Italy. Its segments include Beer, Wine and Spirits, and Corporate Operations and Other. It is a multi-category supplier (beer, wine and spirits) of beverage alcohol in the United States.

Analyst Recommendations for Constellation Brands (NYSE:STZ)

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