Coca-Cola HBC (OTCMKTS:CCHGY) Shares Down 17.7% – Here’s Why

Coca-Cola HBC (OTCMKTS:CCHGY) shares were down 17.7% on Friday. The stock traded as low as $54.57 and last traded at $55.14. 5,452 shares were traded during mid-day trading, a decline of 34% from the average session volume of 8,268 shares. The stock had previously closed at $67.01.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Investec downgraded shares of Coca-Cola HBC to a “hold” rating in a research note on Thursday, September 3rd. BNP Paribas Exane downgraded shares of Coca-Cola HBC to a “neutral” rating in a report on Monday, August 10th. Zacks Research raised Coca-Cola HBC to a “hold” rating in a research report on Tuesday, September 8th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Coca-Cola HBC in a research note on Wednesday, September 16th. Two equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Coca-Cola HBC presently has an average rating of “Hold”.

Coca-Cola HBC Stock Performance

The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.18 and a current ratio of 1.37. The stock’s 50 day simple moving average is $59.80 and its 200-day simple moving average is $60.37.

About Coca-Cola HBC

Coca-Cola HBC AG is a Switzerland-based beverage bottler and one of the largest bottling partners of The Coca-Cola Company. The company manufactures, distributes and sells a broad portfolio of non-alcoholic beverages, including Coca-Cola, Coca-Cola Zero Sugar, Fanta and Sprite, as well as water, juices, energy drinks, sports drinks, ready-to-drink coffee and alcoholic beverages in selected markets. Its portfolio also includes brands such as Schweppes, Monster Energy, Costa Coffee and Cappy, depending on local distribution rights.

Coca-Cola HBC serves customers across 29 countries in Europe, Africa and emerging markets.