Analysts Set Molson Coors Brewing Co (TAP) Target Price at $96.94

Molson Coors Brewing Co (NYSE:TAP) has been assigned a consensus rating of “Buy” from the sixteen ratings firms that are presently covering the company, Marketbeat Ratings reports. Seven research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $96.88.

TAP has been the topic of a number of research analyst reports. Zacks Investment Research upgraded shares of Molson Coors Brewing from a “hold” rating to a “buy” rating and set a $92.00 target price on the stock in a research note on Tuesday, January 2nd. Stifel Nicolaus restated a “buy” rating and issued a $116.00 target price on shares of Molson Coors Brewing in a research note on Friday, December 22nd. Citigroup dropped their target price on shares of Molson Coors Brewing from $106.00 to $102.00 and set a “buy” rating on the stock in a research note on Friday, November 3rd. Morgan Stanley initiated coverage on shares of Molson Coors Brewing in a research note on Tuesday, January 9th. They issued an “equal weight” rating and a $88.00 target price on the stock. Finally, Deutsche Bank initiated coverage on shares of Molson Coors Brewing in a research note on Wednesday, December 13th. They issued a “buy” rating and a $89.00 target price on the stock.

In other news, CFO Tracey Joubert sold 1,000 shares of the stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $79.15, for a total transaction of $79,150.00. Following the transaction, the chief financial officer now directly owns 22,839 shares in the company, valued at $1,807,706.85. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman Peter H. Coors sold 55,603 shares of the stock in a transaction that occurred on Wednesday, January 17th. The shares were sold at an average price of $85.01, for a total transaction of $4,726,811.03. Following the transaction, the chairman now owns 319,222 shares in the company, valued at $27,137,062.22. The disclosure for this sale can be found here. 2.76% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TAP. Dupont Capital Management Corp bought a new position in shares of Molson Coors Brewing during the third quarter valued at approximately $103,000. Cerebellum GP LLC bought a new position in shares of Molson Coors Brewing during the fourth quarter valued at approximately $129,000. Meeder Asset Management Inc. bought a new position in shares of Molson Coors Brewing during the third quarter valued at approximately $138,000. Valeo Financial Advisors LLC boosted its stake in shares of Molson Coors Brewing by 58.2% during the fourth quarter. Valeo Financial Advisors LLC now owns 1,864 shares of the company’s stock valued at $153,000 after purchasing an additional 686 shares in the last quarter. Finally, WealthPLAN Partners LLC purchased a new stake in Molson Coors Brewing during the fourth quarter valued at approximately $212,000. Hedge funds and other institutional investors own 77.05% of the company’s stock.

Shares of Molson Coors Brewing (TAP) traded down $1.75 during trading hours on Tuesday, reaching $79.75. 1,690,000 shares of the company traded hands, compared to its average volume of 1,560,000. The company has a market cap of $18,400.00, a P/E ratio of 17.64, a price-to-earnings-growth ratio of 1.83 and a beta of 0.79. Molson Coors Brewing has a one year low of $72.71 and a one year high of $102.14. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.64 and a quick ratio of 0.47.

Molson Coors Brewing (NYSE:TAP) last issued its earnings results on Wednesday, February 14th. The company reported $0.62 EPS for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.06. The business had revenue of $2.58 billion for the quarter, compared to the consensus estimate of $2.60 billion. Molson Coors Brewing had a net margin of 10.34% and a return on equity of 7.55%. The company’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.47 EPS. analysts predict that Molson Coors Brewing will post 5.12 earnings per share for the current fiscal year.

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Molson Coors Brewing Company Profile

Molson Coors Brewing Company (MCBC) is a holding company. The Company operates as a brewer. The Company’s segments include MillerCoors LLC (United States segment), operating in the United States; Molson Coors Canada (Canada segment), operating in Canada; Molson Coors Europe (Europe segment), operating in Bulgaria, Croatia, Czech Republic, Hungary, Montenegro, Republic of Ireland, Romania, Serbia, the United Kingdom and various other European countries; Molson Coors International (Molson Coors International segment), operating in various other countries, and Corporate.

Analyst Recommendations for Molson Coors Brewing (NYSE:TAP)

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