Bernstein lifts Molson Coors Beverage Company [TAP] price estimate. Who else is bullish?


Molson Coors Beverage Company [NYSE: TAP] surged by $0.37 during the normal trading session on Thursday and reaching a high of $50.543 during the day while it closed the day at $49.78. The company report on November 19, 2021 that NiSource Announces Leadership Changes in Legal Function.

NiSource Inc. (NYSE: NI) today announced that Anne-Marie D’Angelo, executive vice president, general counsel and corporate secretary, is leaving NiSource to assume the position of Chief Legal and Government Affairs Officer at Molson Coors Beverage Company (NYSE: TAP, TAP.A; TSX: TPX.B, TPX.A).

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Ms. D’Angelo joined NiSource in 2019 and quickly ascended to the top leadership position in the legal function after distinguishing herself supporting the Board of Directors and the Chief Executive Officer, and by supporting the company and its operating companies on legal, safety, compliance, governance, and employee-related matters. She has been an instrumental part of the NiSource leadership team.

Molson Coors Beverage Company stock has also gained 8.45% of its value over the past 7 days. However, TAP stock has inclined by 5.49% in the 3 months of the year. Over the past six months meanwhile, it has lost -6.39% and gained 7.40% year-on date.

The market cap for TAP stock reached $10.72 billion, with 217.20 million shares outstanding and 180.51 million shares in the current float. Compared to the average trading volume of 1.64M shares, TAP reached a trading volume of 2936315 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Molson Coors Beverage Company [TAP]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for TAP shares is $54.08 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on TAP stock is a recommendation set at 2.80. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Bernstein have made an estimate for Molson Coors Beverage Company shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on May 25, 2021. While these analysts kept the previous recommendation, Wolfe Research raised their target price to Peer Perform. The new note on the price target was released on April 13, 2021, representing the official price target for Molson Coors Beverage Company stock. Previously, the target price had yet another drop from $45 to $43, while JP Morgan kept a Underweight rating on TAP stock. On January 04, 2021, analysts increased their price target for TAP shares from 36 to 57.

The Average True Range (ATR) for Molson Coors Beverage Company is set at 1.13, with the Price to Sales ratio for TAP stock in the period of the last 12 months amounting to 1.08. The Price to Book ratio for the last quarter was 0.81, with the Price to Cash per share for the same quarter was set at 2.86. Price to Free Cash Flow for TAP in the course of the last twelve months was 11.73 with Quick ratio for the last quarter at 0.60.

TAP stock trade performance evaluation

Molson Coors Beverage Company [TAP] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 8.45. With this latest performance, TAP shares gained by 6.62% in over the last four-week period, additionally sinking by -6.39% over the last 6 months – not to mention a rise of 1.28% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for TAP stock in for the last two-week period is set at 71.33, with the RSI for the last a single of trading hit 81.15, and the three-weeks RSI is set at 65.01 for Molson Coors Beverage Company [TAP]. The present Moving Average for the last 50 days of trading for this stock 46.13, while it was recorded at 48.36 for the last single week of trading, and 50.18 for the last 200 days.

Molson Coors Beverage Company [TAP]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Molson Coors Beverage Company [TAP] shares currently have an operating margin of +13.45 and a Gross Margin at +36.41. Molson Coors Beverage Company’s Net Margin is presently recorded at -9.83.

Return on Total Capital for TAP is now 5.92, given the latest momentum, and Return on Invested Capital for the company is -4.59. Return on Equity for this stock declined to -7.36, with Return on Assets sitting at -3.38. When it comes to the capital structure of this company, Molson Coors Beverage Company [TAP] has a Total Debt to Total Equity ratio set at 67.79. Additionally, TAP Total Debt to Total Capital is recorded at 40.40, with Total Debt to Total Assets ending up at 30.67. Long-Term Debt to Equity for the company is recorded at 59.16, with the Long-Term Debt to Total Capital now at 35.26.

Reflecting on the efficiency of the workforce at the company, Molson Coors Beverage Company [TAP] managed to generate an average of -$55,824 per employee. Receivables Turnover for the company is 12.81 with a Total Asset Turnover recorded at a value of 0.34.Molson Coors Beverage Company’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.60 and a Current Ratio set at 0.80.

Earnings per share (EPS) analysis for Molson Coors Beverage Company [TAP] stock

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for TAP. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Molson Coors Beverage Company go to 3.48%.

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Molson Coors Beverage Company [TAP]: Insider Ownership positions

There are presently around $8,648 million, or 91.20% of TAP stock, in the hands of institutional investors. The top three institutional holders of TAP stocks are: DODGE & COX with ownership of 31,224,608, which is approximately -0.582% of the company’s market cap and around 0.10% of the total institutional ownership; VANGUARD GROUP INC, holding 19,921,656 shares of the stock with an approximate value of $984.33 million in TAP stocks shares; and BLACKROCK INC., currently with $853.97 million in TAP stock with ownership of nearly 10.7% of the company’s market capitalization.

Positions in Molson Coors Beverage Company stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 232 institutional holders increased their position in Molson Coors Beverage Company [NYSE:TAP] by around 12,002,375 shares. Additionally, 245 investors decreased positions by around 12,746,097 shares, while 90 investors held positions by with 150,276,877 shares. The mentioned changes placed institutional holdings at 175,025,349 shares, according to the latest SEC report filing. TAP stock had 47 new institutional investments in for a total of 1,782,870 shares, while 53 institutional investors sold positions of 4,507,747 shares during the same period.