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

Molson Coors Beverage (NYSE:TAP) had its target price lifted by stock analysts at Barclays from $49.00 to $51.00 in a research report issued on Monday,Benzinga reports. The firm presently has an “underweight” rating on the stock. Barclays‘s price objective would indicate a potential downside of 17.61% from the company’s current price.

A number of other analysts have also commented on TAP. TD Cowen cut their price objective on shares of Molson Coors Beverage from $58.00 to $56.00 and set a “hold” rating on the stock in a research report on Tuesday, October 8th. Jefferies Financial Group reduced their price objective on shares of Molson Coors Beverage from $61.00 to $57.00 and set a “hold” rating for the company in a research note on Thursday, July 18th. Piper Sandler lifted their target price on Molson Coors Beverage from $57.00 to $59.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Wells Fargo & Company raised Molson Coors Beverage from an “underweight” rating to an “overweight” rating and increased their price target for the company from $52.00 to $74.00 in a research report on Friday, November 8th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Molson Coors Beverage from $56.00 to $57.00 and gave the stock a “hold” rating in a research report on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $60.31.

Molson Coors Beverage Price Performance

TAP stock opened at $61.90 on Monday. The stock has a 50-day moving average price of $55.80 and a two-hundred day moving average price of $54.24. Molson Coors Beverage has a 1 year low of $49.19 and a 1 year high of $69.18. The stock has a market cap of $12.82 billion, a PE ratio of 13.94, a price-to-earnings-growth ratio of 2.60 and a beta of 0.82. The company has a current ratio of 0.99, a quick ratio of 0.75 and a debt-to-equity ratio of 0.46.

Molson Coors Beverage (NYSE:TAP) last posted its quarterly earnings data on Thursday, November 7th. The company reported $1.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.67 by $0.13. The business had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $3.13 billion. Molson Coors Beverage had a return on equity of 9.24% and a net margin of 6.78%. Molson Coors Beverage’s quarterly revenue was down 7.8% on a year-over-year basis. During the same period last year, the company earned $1.92 earnings per share. Equities analysts forecast that Molson Coors Beverage will post 5.74 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of TAP. Family Firm Inc. bought a new stake in shares of Molson Coors Beverage during the second quarter worth approximately $26,000. Altshuler Shaham Ltd bought a new stake in Molson Coors Beverage in the 2nd quarter valued at $27,000. GPS Wealth Strategies Group LLC grew its holdings in Molson Coors Beverage by 83.8% in the 2nd quarter. GPS Wealth Strategies Group LLC now owns 645 shares of the company’s stock valued at $33,000 after buying an additional 294 shares in the last quarter. Ashton Thomas Securities LLC bought a new position in Molson Coors Beverage during the 3rd quarter worth $35,000. Finally, Gladius Capital Management LP acquired a new stake in shares of Molson Coors Beverage during the third quarter worth $42,000. Institutional investors and hedge funds own 78.46% of the company’s stock.

About Molson Coors Beverage

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.