Molson Coors Brewing Company (NYSE:TAP) stock hiked on Monday after Goldman Sachs Group, Inc (NYSE:GS) upgraded the Denver Colorado based company to a buy rating from neutral and lifted its price target for beer company to $63 from $47.
Analysts of Goldman Sachs reported recovery in North American beer volumes as domestic employment strengthen is the source of their upside forecasts.
Goldman Sachs analyst Judy Hong said that they believe Molson Coors Brewing is a compelling risk/reward plan as the United States employment revival and a new product cycle drive uphill earnings revisions and numerous re-rating for this deep value asset. Shares of the company hiked 4.5 percent to settle at $51.14.
Shifting reader’s focus to broader market, let us consider market performance of other stocks that significantly affect same sector. Anheuser-Busch InBev NV (ADR) (NYSE:BUD) fell -0.23% to settle at $99.32, Companhia de Bebidas das Americas (ADR) (NYSE:ABV) moved down -0.76% to end at $42.01 while Compania Cervecerias Unidas S.A. (ADR) (NYSE:CCU) plunged -0.18% to finish at $33.02 on Monday.
Molson Coors Brewing Company (NYSE:TAP) last session’s volume of 3.24 million shares was higher than its average volume of 1.48 million shares. The stock after opening at $49.85 hit high price of $51.90 and then closed at $51.90 by scoring +6.07%.
TAP generated revenue of $3.92 billion in the previous twelve months and earned $441.50 million. The Company showed a positive 11.17% in the net profit margin as well as in its operating margin which remained at 18.74%. Company’s annual sales growth for the past five years was -8.75%.
The TAP’s past twelve months’ price to sales ratio was 2.40 and price to cash ratio remained 15.09. As far as the returns are concerned, TAP’s return on equity was recorded as 5.65% and return on investment increased 3.55% while its return on asset stayed at 3.06%.
The stock showed weekly upbeat performance of 6.00% which was maintained for the month at 17.39%. Likewise the positive performance for the quarter was recorded as 21.12% and for the year was 18.25% while the YTD performance remained at 22.18%.
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