NEW YORK ( TheStreet) -- When my wife and I raised our two sons on Long Island, first in Greenlawn then in Munsey Park, it was our legacy to host a Fourth of July pool party. Our guests were mostly my wife's relatives, and over the years you knew the most popular alcoholic beverages among the adults and among the cousins as they became old enough to drink.The alcoholic beverage industry is in the consumer staples sector as most folks will maintain an inventory of their favorite brews, wines and spirits regardless of economic times. The consumer staples sector is 17.0% overvalued with the alcoholic beverage industry 7.8% overvalued. On Tuesday in Sector Ratings Set Asset Allocations I gave the consumer staples sector an overweight rating and today I provide buy-and-trade profiles for seven stocks in the beverage industry. On Tuesday, morning one of my choices Constellation Brands ( STZ) reported quarterly earnings. The company missed on both the EPS and revenue lines. The producer of wine, bear and spirits traded lower pre-market. After a down day on Tuesday this stock was upgraded to buy this morning. Also on Tuesday, Molson Coors ( TAP) was upgraded to buy from hold according to ValuEngine. Among the seven beverage stocks three are undervalued and four are overvalued. Four have buy ratings and three have hold ratings. The biggest gainer over the last 12 months is Constellation Brands up 89.4%. Projected 12 month gains are up 5.1% to 9.7%. The 12 month trailing price-to-earnings ratios appear elevated with five of eight having P/E between 21.6 and 84.2.