Zacks Investment Research Lowers Tsingtao Brewery Co Ltd (TSGTY) to Sell

Zacks Investment Research downgraded shares of Tsingtao Brewery Co Ltd (NASDAQ:TSGTY) from a buy rating to a sell rating in a report released on Thursday.

According to Zacks, “Tsingtao Brewery Company Limited engages in the production and distribution of beer products in the People’s Republic of China. The Company sells its beer under the trademark of TSINGTAO BEER. The company also engages in prepackaged food accommodation and design, manufacture and distribution of tea beverages. It also offers malt, car rental services, warehousing, packaging, logistic services and travel services. In addition, it imports and exports beer and involves in waste material recycling. Tsingtao Brewery Company Limited is based in Qingdao, the People’s Republic of China. “

Shares of Tsingtao Brewery Co (NASDAQ:TSGTY) remained flat at $22.22 on Thursday. Tsingtao Brewery Co has a 12 month low of $16.38 and a 12 month high of $23.44. The firm’s 50-day moving average price is $22.64 and its 200 day moving average price is $20.81. The company has a market cap of $3.00 billion and a price-to-earnings ratio of 19.84.

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