Ambev S.A. (ABEV) has risen sharply, recording gains of 4.57% in the past 4 weeks. However, the stock has corrected -0.32% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 4.17% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.
Ambev S.A. is up 18.39% in the last 3-month period. Year-to-Date the stock performance stands at 38.57%. The stock has recorded a 20-day Moving Average of 2.97% and the 50-Day Moving Average is 6.74%.
Ambev S.A. (NYSE:ABEV): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $6.15 and $6.10 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $6.22. The buying momentum continued till the end and the stock did not give up its gains. It closed at $6.18, notching a gain of 0.49% for the day. The total traded volume was 10,597,050 . The stock had closed at $6.15 on the previous day.
Also, Equity Analysts at the Morgan Stanley downgrades the rating on Ambev S.A. (NYSE:ABEV). The brokerage firm has issued a Equal-weight rating on the shares. The shares were previously rated Overweight. The Analysts at the ratings agency raises the price target from $6 per share to $6.4 per share. The rating by the firm was issued on August 18, 2016.
Ambev SA, known as Inbev Participacoes Societarias SA, is a Brazil-based company engaged in the brewers sector. Ambev produces, distributes and sell beer, carbonated soft drinks (CSDs) and other non-alcoholic and non-carbonated products across the Americas. The Company conducts its operations through three business units: Latin America North includes its operations in Brazil, where Ambev operates two divisions: beer sales (Beer Brazil) and carbonated soft drinks and non-alcoholic non-carbonated sales (CSD & NANC Brazil), and its Hispanic Latin America Operations, Excluding Latin America South (HILA-Ex), which includes its operations in the Dominican Republic, Venezuela, Ecuador, Guatemala (which also serves El Salvador and Nicaragua) and Peru; Latin America South includes its operations in Argentina, Bolivia, Paraguay, Uruguay and Chile, and Canada, among others.