Published On: Wed, Sep 7th, 2016

Cencosud SA (CNCO) Upgraded to “Buy” at TheStreet

Cencosud SA (NYSE:CNCO) was upgraded by research analysts at TheStreet from a “hold” rating to a “buy” rating in a report issued on Friday.
Shares of Cencosud SA (NYSE:CNCO) traded up 2.16% during midday trading on Friday, reaching $9.00. The company had a trading volume of 211,239 shares. Cencosud SA has a 1-year low of $5.30 and a 1-year high of $9.45. The stock has a market capitalization of $8.53 billion and a PE ratio of 16.39. The company’s 50-day moving average is $8.73 and its 200-day moving average is $8.06.
A number of other equities research analysts have also recently commented on CNCO. Citigroup cut Cencosud SA from a “buy” rating to a “neutral” rating in a research note on Friday, May 6th. Zacks Investment Research raised Cencosud SA from a “sell” rating to a “hold” rating in a research note on Thursday, May 26th. Goldman Sachs Group cut Cencosud SA from a “neutral” rating to a “sell” rating in a research note on Monday, June 6th. JPMorgan Chase & Co. cut Cencosud SA from an “overweight” rating to a “neutral” rating in a research note on Thursday, August 18th. Finally, Bank of America Corp. cut Cencosud SA from a “neutral” rating to an “underperform” rating in a research note on Friday, August 26th. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. The company has a consensus rating of “Hold”.

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Several hedge funds and institutional investors have made changes to their positions in CNCO. 1st Global Advisors Inc. acquired a new position in shares of Cencosud SA during the second quarter worth about $172,000. Renaissance Technologies LLC increased its position in shares of Cencosud SA by 68.6% in the first quarter. Renaissance Technologies LLC now owns 53,600 shares of the company’s stock worth $412,000 after buying an additional 21,800 shares during the last quarter. Acadian Asset Management LLC increased its position in shares of Cencosud SA by 312.8% in the second quarter. Acadian Asset Management LLC now owns 75,482 shares of the company’s stock worth $675,000 after buying an additional 57,195 shares during the last quarter. Finally, State Street Corp increased its position in shares of Cencosud SA by 0.4% in the first quarter. State Street Corp now owns 232,192 shares of the company’s stock worth $1,784,000 after buying an additional 910 shares during the last quarter.

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