New Age Beverages (NASDAQ:NBEV) Upgraded to Buy by Zacks Investment Research

Zacks Investment Research upgraded shares of New Age Beverages (NASDAQ:NBEV) from a hold rating to a buy rating in a research report report published on Friday morning, Zacks.com reports. Zacks Investment Research currently has $1.75 target price on the stock.

According to Zacks, “New Age Beverages Corporation is a beverage company. The company’s brand portfolio include XingTea (R) , Aspen Pure (R) , Artesian Water, BĂșcha (R) Live Kombucha, Marley One Drop (R), RTD Coffee and Marley Mellow Mood (TM). New Age Beverages Corporation, formerly known as American Brewing Company Inc., is based in USA. “

Several other brokerages have also recently issued reports on NBEV. Compass Point cut their target price on shares of New Age Beverages from $9.00 to $4.00 in a report on Wednesday, March 11th. Northland Securities restated a hold rating on shares of New Age Beverages in a report on Friday, April 17th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average price target of $3.19.

NBEV stock opened at $1.49 on Friday. The firm has a 50 day moving average of $1.46 and a 200-day moving average of $1.75. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.73 and a current ratio of 1.28. New Age Beverages has a 12 month low of $0.98 and a 12 month high of $5.14.

New Age Beverages (NASDAQ:NBEV) last released its quarterly earnings data on Monday, May 11th. The company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.03). The firm had revenue of $63.69 million during the quarter, compared to the consensus estimate of $62.86 million. New Age Beverages had a negative net margin of 38.53% and a negative return on equity of 44.30%. On average, analysts anticipate that New Age Beverages will post -0.33 earnings per share for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in NBEV. Requisite Capital Management LLC bought a new stake in New Age Beverages in the first quarter valued at $695,000. Virtu Financial LLC boosted its holdings in New Age Beverages by 1,058.3% in the fourth quarter. Virtu Financial LLC now owns 208,763 shares of the company’s stock valued at $380,000 after acquiring an additional 190,740 shares in the last quarter. State Street Corp boosted its holdings in New Age Beverages by 14.2% in the fourth quarter. State Street Corp now owns 1,429,220 shares of the company’s stock valued at $2,601,000 after acquiring an additional 178,151 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in New Age Beverages by 117.0% in the first quarter. JPMorgan Chase & Co. now owns 24,120 shares of the company’s stock valued at $33,000 after acquiring an additional 166,131 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of New Age Beverages by 14.4% during the 4th quarter. Geode Capital Management LLC now owns 1,046,753 shares of the company’s stock valued at $1,905,000 after buying an additional 131,847 shares in the last quarter. Institutional investors and hedge funds own 21.25% of the company’s stock.

New Age Beverages Company Profile

New Age Beverages Corporation, a healthy functional beverage company, engages in the development, marketing, sales, and distribution of beverages. The company offers ready to drink (RTD) tea, RTD coffee, kombucha, energy drinks, relaxation drinks, coconut waters, functional waters, and rehydration beverages, as well as functional medical beverages.

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