NEW YORK ( TheStreet) -- AmBev (NYSE: ABV) hit a new 52-week high Tuesday as it is currently trading at $32.02, above its previous 52-week high of $32 with 934,901 shares traded as of 12:31 p.m. ET. Average volume has been 2.6 million shares over the past 30 days.

AmBev has a market cap of $98.6 billion and is part of the consumer goods sector and food & beverage industry. Shares are up 0.2% year to date as of the close of trading on Monday.

Companhia de Bebidas das Americas AmBev engages in the production, distribution, and sale of beer, draft beer, carbonated soft drinks, malt, and other non-alcoholic and non-carbonated products in the Americas. It also sells bottled water, isotonics, and ready-to-drink teas. The company has a P/E ratio of 103.6, above the average food & beverage industry P/E ratio of 22.6 and above the S&P 500 P/E ratio of 16.7.
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TheStreet Ratings rates AmBev as a buy. The company's strengths can be seen in multiple areas, such as its impressive record of earnings per share growth, revenue growth, notable return on equity, expanding profit margins and good cash flow from operations. We feel these strengths outweigh the fact that the company is trading at a premium valuation based on our review of its current price compared to such things as earnings and book value. You can view the full AmBev Ratings Report.

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