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

Shares of Coca-Cola HBC (OTCMKTS:CCHGY) gapped down prior to trading on Friday . The stock had previously closed at $60.93, but opened at $57.45. Coca-Cola HBC shares last traded at $57.45, with a volume of 314 shares trading hands.

Wall Street Analysts Forecast Growth

CCHGY has been the topic of a number of recent analyst reports. Wall Street Zen cut Coca-Cola HBC from a “buy” rating to a “hold” rating in a research report on Saturday, April 4th. Citigroup reaffirmed a “neutral” rating on shares of Coca-Cola HBC in a research note on Wednesday, February 11th. Kepler Capital Markets lowered Coca-Cola HBC from a “hold” rating to a “strong sell” rating in a research note on Friday, February 6th. Finally, Morgan Stanley reissued an “overweight” rating on shares of Coca-Cola HBC in a research note on Wednesday, February 11th. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Coca-Cola HBC presently has an average rating of “Hold”.

Coca-Cola HBC Stock Performance

The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.99 and a current ratio of 1.19. The business has a 50-day moving average price of $58.90 and a 200 day moving average price of $54.38.

About Coca-Cola HBC

Coca-Cola HBC (OTCMKTS:CCHGY) is a major bottling partner for The Coca-Cola Company, engaged in the production, packaging, distribution and marketing of nonalcoholic beverages. As a concentrate licensee and bottler, the company manufactures and sells a broad portfolio of branded soft drinks, waters, juices, ready-to-drink teas, sports and energy drinks, and other still beverages under global and local brands. Its operations cover the full bottling value chain, from procurement of raw materials and bottling to route-to-market distribution and retail execution.

The company’s activities encompass manufacturing at local bottling plants, supply chain and logistics management, commercial and customer-facing sales, and marketing support for both global Coca?Cola brands and regionally tailored products.