Cott (COT) Upgraded at Zacks Investment Research

Cott (NYSE:COT) (TSE:BCB) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research report issued on Tuesday, Zacks.com reports.

According to Zacks, “Cott Corporation is a North American and European water, coffee and coffee extracts, tea and filtration solutions service company. “

Other analysts have also issued research reports about the company. Citigroup set a $17.00 price target on Cott and gave the company a “buy” rating in a report on Friday, May 3rd. TD Securities lowered Cott from an “action list buy” rating to a “buy” rating and decreased their price target for the company from $20.00 to $17.00 in a report on Friday, May 3rd. Finally, ValuEngine lowered Cott from a “buy” rating to a “hold” rating in a report on Saturday, February 23rd. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Cott currently has a consensus rating of “Buy” and an average price target of $18.50.

Shares of COT traded up $0.02 during mid-day trading on Tuesday, hitting $14.02. 583,600 shares of the stock were exchanged, compared to its average volume of 1,190,346. The stock has a market capitalization of $1.90 billion, a price-to-earnings ratio of 87.63 and a beta of 0.82. Cott has a 52-week low of $13.34 and a 52-week high of $17.06. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.13 and a quick ratio of 0.90.

Cott (NYSE:COT) (TSE:BCB) last issued its quarterly earnings data on Thursday, May 2nd. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.04) by ($0.10). The firm had revenue of $574.10 million for the quarter, compared to analysts’ expectations of $566.04 million. Cott had a return on equity of 0.38% and a net margin of 0.08%. The firm’s revenue was up 2.4% on a year-over-year basis. During the same period last year, the company earned $0.03 earnings per share. On average, sell-side analysts expect that Cott will post 0.31 earnings per share for the current year.

In other Cott news, CEO Charles R. Hinson acquired 51,405 shares of the business’s stock in a transaction on Tuesday, February 26th. The shares were bought at an average price of $14.88 per share, with a total value of $764,906.40. Following the transaction, the chief executive officer now directly owns 210,116 shares of the company’s stock, valued at approximately $3,126,526.08. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Steven P. Stanbrook acquired 13,500 shares of the business’s stock in a transaction on Tuesday, February 26th. The stock was acquired at an average cost of $14.77 per share, for a total transaction of $199,395.00. Following the transaction, the director now directly owns 13,500 shares in the company, valued at $199,395. The disclosure for this purchase can be found here. Corporate insiders own 3.99% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the business. First Hawaiian Bank grew its position in Cott by 24.5% in the 4th quarter. First Hawaiian Bank now owns 4,399 shares of the company’s stock valued at $61,000 after acquiring an additional 865 shares during the last quarter. Swiss National Bank grew its position in Cott by 0.7% in the 1st quarter. Swiss National Bank now owns 252,000 shares of the company’s stock valued at $3,678,000 after acquiring an additional 1,700 shares during the last quarter. PNC Financial Services Group Inc. grew its position in Cott by 12.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 16,647 shares of the company’s stock valued at $243,000 after acquiring an additional 1,902 shares during the last quarter. CIBC Asset Management Inc grew its position in Cott by 3.2% in the 4th quarter. CIBC Asset Management Inc now owns 76,793 shares of the company’s stock valued at $1,070,000 after acquiring an additional 2,365 shares during the last quarter. Finally, Citigroup Inc. grew its position in Cott by 8.0% in the 1st quarter. Citigroup Inc. now owns 35,850 shares of the company’s stock valued at $523,000 after acquiring an additional 2,651 shares during the last quarter.

Cott Company Profile

Cott Corporation, together with its subsidiaries, operates as a route based service company in the United States, the United Kingdom, Canada, and internationally. The company operates in three segments: Route Based Services; Coffee, Tea and Extract Solutions; and All Other. Its product portfolio includes bottled water, coffee, brewed tea, water dispensers, coffee and tea brewers, specialty coffee, liquid coffee or tea concentrate, single cup coffee, cold brewed coffee, iced blend coffee or tea beverages, blended teas, hot tea, sparkling tea, coffee or tea extract solutions, filtration equipment, hot chocolate, soups, malt drinks, creamers/whiteners, cereals, and beverage concentrates, as well as premium spring, sparkling and flavored, and mineral water.

See Also: Stock Ratings and Recommendations: Understanding Analyst Upgrades and Downgrades

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