STZ Toasts to Record Highs After Earnings

In response, the options pits are seeing four times the usual volume

Deputy Editor
Jan 7, 2021 at 3:15 PM
facebook X logo linkedin

The shares of Constellation Brands, Inc. (NYSE:STZ) are up 2.8% at $230.07 at last check, after its upbeat fiscal third-quarter report, with the company reporting better-than-expected earnings. The beverage alcohol producer said business picked up in this quarter despite the pandemic, and forecasts a fiscal 2021 net beer sales growth of as much as 9%. Furthermore, Constellation noted that its board has authorized a $2 billion share repurchase program. 

On the charts, STZ hit new record levels earlier in the day, trading up as high as $240.76 before pulling back to its current gains. Now on track for its third-straight win, with yesterday's 3.1% pre-earnings pop surpassing pressure at the $220 level, the stock is up 21.1% year-over-year. 

STZ Jan 7

Analysts are leaning bullish on Constellation stock, with 10 of the 15 analysts in coverage at a "buy" or better rating. Meanwhile, the 12-month consensus price target of $230.55 is in line with current levels. 

Today's news has options traders chiming in at full force, with overall volume running at four times what's typically seen at this point. More specifically, 11,000 calls and 5,869 puts across the tape so far, with the new positions being opened at the most active option -- the weekly 1/8 240-strike call. 


Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI