Brokerages Set New Age Beverages Corp (NBEV) Target Price at $6.50

New Age Beverages Corp (NASDAQ:NBEV) has been given an average rating of “Buy” by the six research firms that are presently covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $6.50.

NBEV has been the topic of several analyst reports. Zacks Investment Research upgraded New Age Beverages from a “sell” rating to a “hold” rating in a report on Wednesday, October 17th. Northland Securities initiated coverage on New Age Beverages in a report on Tuesday, September 4th. They issued an “outperform” rating and a $3.00 target price on the stock. Maxim Group reduced their target price on New Age Beverages from $5.00 to $3.00 and set a “buy” rating on the stock in a report on Thursday, August 16th. Roth Capital upped their target price on New Age Beverages from $7.00 to $10.00 and gave the company a “buy” rating in a report on Tuesday. Finally, BidaskClub upgraded New Age Beverages from a “sell” rating to a “hold” rating in a report on Wednesday.

Shares of NBEV stock opened at $4.69 on Wednesday. New Age Beverages has a one year low of $1.30 and a one year high of $9.99. 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 (NASDAQ:NBEV) last announced 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). New Age Beverages had a negative net margin of 29.08% and a negative return on equity of 23.49%. The company had revenue of $13.24 million during the quarter, compared to the consensus estimate of $13.54 million. On average, equities research analysts predict that New Age Beverages will post -0.24 earnings per share for the current year.

Several institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in shares of New Age Beverages by 75.6% during the 3rd quarter. Vanguard Group Inc. now owns 1,357,536 shares of the company’s stock worth $7,263,000 after buying an additional 584,381 shares in the last quarter. Jane Street Group LLC bought a new position in shares of New Age Beverages during the 3rd quarter worth approximately $1,081,000. BlackRock Inc. boosted its holdings in shares of New Age Beverages by 425.7% during the 3rd quarter. BlackRock Inc. now owns 743,966 shares of the company’s stock worth $3,980,000 after buying an additional 602,434 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of New Age Beverages by 112.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 26,004 shares of the company’s stock worth $139,000 after buying an additional 13,738 shares in the last quarter. Finally, Bank of Montreal Can bought a new position in shares of New Age Beverages during the 3rd quarter worth approximately $202,000. Hedge funds and other institutional investors own 6.45% of the company’s stock.

About New Age Beverages

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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