Compañía Cervecerías Unidas (NYSE:CCU) Price Target Cut to $9.40 by Analysts at The Goldman Sachs Group

Compañía Cervecerías Unidas (NYSE:CCU) had its price target reduced by analysts at The Goldman Sachs Group from $10.50 to $9.40 in a report issued on Tuesday,Benzinga reports. The firm currently has a “sell” rating on the stock. The Goldman Sachs Group’s price target points to a potential downside of 12.07% from the company’s previous close.

A number of other research analysts also recently commented on the company. Scotiabank raised Compañía Cervecerías Unidas from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 7th. StockNews.com raised shares of Compañía Cervecerías Unidas from a “hold” rating to a “buy” rating in a report on Tuesday, August 20th. Finally, JPMorgan Chase & Co. cut shares of Compañía Cervecerías Unidas from an “overweight” rating to an “underweight” rating and decreased their price objective for the company from $21.00 to $10.00 in a research note on Thursday, August 8th. Three analysts have rated the stock with a sell rating, two have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $12.08.

Compañía Cervecerías Unidas Trading Down 1.7 %

Compañía Cervecerías Unidas stock traded down $0.19 during mid-day trading on Tuesday, reaching $10.69. 34,223 shares of the company were exchanged, compared to its average volume of 153,179. The company has a fifty day simple moving average of $11.01 and a 200-day simple moving average of $11.59. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.06 and a quick ratio of 1.60. Compañía Cervecerías Unidas has a 12 month low of $10.00 and a 12 month high of $13.74.

Hedge Funds Weigh In On Compañía Cervecerías Unidas

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Ritholtz Wealth Management bought a new stake in shares of Compañía Cervecerías Unidas during the second quarter worth $146,000. Blue Trust Inc. grew its position in Compañía Cervecerías Unidas by 55.3% during the 2nd quarter. Blue Trust Inc. now owns 18,231 shares of the company’s stock worth $219,000 after acquiring an additional 6,495 shares during the last quarter. Naples Global Advisors LLC increased its holdings in Compañía Cervecerías Unidas by 12.6% in the 2nd quarter. Naples Global Advisors LLC now owns 33,595 shares of the company’s stock worth $382,000 after purchasing an additional 3,750 shares in the last quarter. Malaga Cove Capital LLC raised its position in Compañía Cervecerías Unidas by 39.8% in the second quarter. Malaga Cove Capital LLC now owns 57,632 shares of the company’s stock valued at $656,000 after purchasing an additional 16,396 shares during the last quarter. Finally, American Century Companies Inc. boosted its stake in shares of Compañía Cervecerías Unidas by 37.5% during the second quarter. American Century Companies Inc. now owns 79,367 shares of the company’s stock valued at $903,000 after purchasing an additional 21,630 shares in the last quarter. Institutional investors own 24.07% of the company’s stock.

Compañía Cervecerías Unidas Company Profile

Compañía Cervecerías Unidas SA operates as a beverage company in Chile, Argentina, Bolivia, Colombia, Paraguay, and Uruguay. The company operates through three segments: Chile, International Business, and Wine. It produces and sells alcoholic and non-alcoholic beer under proprietary and licensed brands, as well as distributes Pernod Ricard products in non-supermarket retail stores.