New Age Beverages (NBEV) Raised to Buy at 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 released on Tuesday morning. The firm currently has $4.75 price objective 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, Búcha (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. “

NBEV has been the subject of several other reports. ValuEngine upgraded New Age Beverages from a hold rating to a buy rating in a research note on Friday, September 21st. Maxim Group lowered New Age Beverages from a buy rating to a hold rating in a research note on Friday, September 21st. Finally, Northland Securities started coverage on New Age Beverages in a research note on Tuesday, September 4th. They issued an outperform rating and a $3.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of Buy and an average target price of $3.58.

Shares of NASDAQ:NBEV opened at $3.81 on Tuesday. The company has a current ratio of 15.69, a quick ratio of 12.38 and a debt-to-equity ratio of 0.04. New Age Beverages has a 52-week low of $1.30 and a 52-week high of $9.99.

New Age Beverages (NASDAQ:NBEV) last released its earnings results on Wednesday, November 14th. The company reported ($0.08) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by ($0.03). The business had revenue of $13.24 million during the quarter, compared to analyst estimates of $13.54 million. New Age Beverages had a negative net margin of 29.08% and a negative return on equity of 23.49%. As a group, research analysts anticipate that New Age Beverages will post -0.24 earnings per share for the current year.

Institutional investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp increased its stake in New Age Beverages by 112.0% in the third quarter. Bank of New York Mellon Corp now owns 26,004 shares of the company’s stock valued at $139,000 after purchasing an additional 13,738 shares during the last quarter. Bank of Montreal Can acquired a new position in New Age Beverages in the third quarter valued at $202,000. Jane Street Group LLC acquired a new position in New Age Beverages in the third quarter valued at $1,081,000. BlackRock Inc. increased its stake in New Age Beverages by 425.7% during the third quarter. BlackRock Inc. now owns 743,966 shares of the company’s stock worth $3,980,000 after acquiring an additional 602,434 shares during the last quarter. Finally, Nepsis Inc. acquired a new stake in New Age Beverages during the second quarter worth about $3,252,000. Hedge funds and other institutional investors own 9.10% 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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