New Age Beverages Corp (NASDAQ:NBEV) has been assigned an average rating of “Hold” from the nine ratings firms that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $8.00.
Several research analysts have issued reports on NBEV shares. Northland Securities reiterated a “hold” rating and set a $5.00 target price on shares of New Age Beverages in a report on Thursday, August 8th. BidaskClub cut shares of New Age Beverages from a “sell” rating to a “strong sell” rating in a report on Thursday, July 11th. Maxim Group restated a “hold” rating on shares of New Age Beverages in a report on Friday, May 10th. Compass Point began coverage on shares of New Age Beverages in a report on Monday, June 10th. They issued a “buy” rating and a $9.00 price target on the stock. Finally, Zacks Investment Research upgraded shares of New Age Beverages from a “sell” rating to a “hold” rating in a report on Friday, August 9th.
Shares of New Age Beverages stock opened at $3.42 on Monday. The company has a current ratio of 1.63, a quick ratio of 1.24 and a debt-to-equity ratio of 0.25. New Age Beverages has a 1 year low of $1.30 and a 1 year high of $9.99. The business’s 50-day simple moving average is $3.99.
New Age Beverages (NASDAQ:NBEV) last issued its earnings results on Thursday, August 8th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by ($0.14). New Age Beverages had a negative return on equity of 18.51% and a negative net margin of 12.79%. The business had revenue of $66.35 million for the quarter, compared to the consensus estimate of $64.43 million. During the same quarter in the previous year, the company earned ($0.09) earnings per share. The firm’s revenue was up 396.6% on a year-over-year basis. As a group, equities research analysts forecast that New Age Beverages will post -0.09 earnings per share for the current fiscal year.
In other news, CEO Brent D. Willis sold 25,000 shares of the firm’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $4.00, for a total value of $100,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 4.90% of the stock is currently owned by company insiders.
Several large investors have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its holdings in shares of New Age Beverages by 279.0% in the 2nd quarter. BlackRock Inc. now owns 4,746,407 shares of the company’s stock valued at $22,119,000 after buying an additional 3,494,062 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of New Age Beverages by 34.2% in the 2nd quarter. Vanguard Group Inc. now owns 3,645,591 shares of the company’s stock valued at $16,989,000 after buying an additional 928,126 shares in the last quarter. Laurion Capital Management LP boosted its holdings in shares of New Age Beverages by 19.8% in the 1st quarter. Laurion Capital Management LP now owns 626,632 shares of the company’s stock valued at $3,296,000 after buying an additional 103,755 shares in the last quarter. Morgan Stanley boosted its holdings in shares of New Age Beverages by 164.0% in the 2nd quarter. Morgan Stanley now owns 584,155 shares of the company’s stock valued at $2,722,000 after buying an additional 362,903 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of New Age Beverages by 77.5% in the 4th quarter. Geode Capital Management LLC now owns 444,631 shares of the company’s stock valued at $2,312,000 after buying an additional 194,180 shares in the last quarter. Institutional investors and hedge funds own 13.86% 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.
Featured Article: What is the Consumer Price Index (CPI)?
Receive News & Ratings for New Age Beverages Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for New Age Beverages and related companies with MarketBeat.com's FREE daily email newsletter.