In a report released yesterday, Robert Ottenstein from Evercore ISI reiterated a Buy rating on Constellation Brands (STZ – Research Report), with a price target of $285.00. The company’s shares closed last Thursday at $225.77.
According to TipRanks.com, Ottenstein is a 1-star analyst with an average return of -4.0% and a 35.6% success rate. Ottenstein covers the Consumer Goods sector, focusing on stocks such as Coca-Cola Europacific Partners, The Estée Lauder Companies, and Reynolds Consumer Products.
Constellation Brands has an analyst consensus of Moderate Buy, with a price target consensus of $273.23, which is a 20.1% upside from current levels. In a report issued on June 8, Wells Fargo also maintained a Buy rating on the stock with a $280.00 price target.
Based on Constellation Brands’ latest earnings release for the quarter ending February 28, the company reported a quarterly revenue of $2.1 billion and net profit of $395 million. In comparison, last year the company earned revenue of $1.95 billion and had a net profit of $383 million.
Based on the recent corporate insider activity of 38 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of STZ in relation to earlier this year. Most recently, in April 2022, Jeremy Fowden, a Director at STZ sold 7,574 shares for a total of $1,820,569.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Founded in 1945, Constellation Brands, Inc. is engaged in the production, marketing, and distribution of beer, wine, and spirits in the United States, Mexico, New Zealand, and Italy. The company’s iconic beer brands include Corona Extra, Corona Light, Corona Premier, Modelo Especial, Modelo Negra and Pacifico. Its premium wine and spirits brands include Robert Mondavi, Kim Crawford, Meiomi, The Prisoner, SVEDKA Vodka, Casa Noble Tequila and High West Whiskey.
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