New Age Beverages (NASDAQ:NBEV) Raised to “Hold” at Zacks Investment Research
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. “
Several other equities analysts have also weighed in on NBEV. Maxim Group restated a hold rating on shares of New Age Beverages in a report on Friday, May 10th. Compass Point started coverage on shares of New Age Beverages in a report on Monday, June 10th. They issued a buy rating and a $9.00 price objective on the stock. Northland Securities restated a hold rating and issued a $5.00 price objective on shares of New Age Beverages in a report on Thursday, August 8th. Finally, BidaskClub lowered shares of New Age Beverages from a sell rating to a strong sell rating in a report on Thursday, July 11th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company’s stock. New Age Beverages currently has a consensus rating of Hold and an average price target of $7.55.
New Age Beverages (NASDAQ:NBEV) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.15) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by ($0.14). New Age Beverages had a negative net margin of 12.78% and a negative return on equity of 17.70%. The business had revenue of $66.35 million during the quarter, compared to analyst estimates of $64.43 million. During the same quarter in the prior year, the company earned ($0.09) earnings per share. The company’s quarterly revenue was up 396.6% on a year-over-year basis. On average, analysts predict that New Age Beverages will post -0.09 EPS for the current year.
In other New Age Beverages news, CEO Brent D. Willis sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $4.59, for a total value of $114,750.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 75,000 shares of company stock valued at $296,500 in the last ninety days. Insiders own 4.90% of the company’s stock.
A number of large investors have recently modified their holdings of the business. Independent Advisor Alliance increased its stake in New Age Beverages by 13.8% in the first quarter. Independent Advisor Alliance now owns 22,925 shares of the company’s stock valued at $121,000 after purchasing an additional 2,784 shares in the last quarter. Advisor Group Inc. increased its stake in New Age Beverages by 24.5% in the second quarter. Advisor Group Inc. now owns 24,270 shares of the company’s stock valued at $112,000 after purchasing an additional 4,770 shares in the last quarter. WINTON GROUP Ltd increased its stake in New Age Beverages by 47.9% in the second quarter. WINTON GROUP Ltd now owns 28,935 shares of the company’s stock valued at $135,000 after purchasing an additional 9,374 shares in the last quarter. Advisory Services Network LLC increased its stake in New Age Beverages by 5,012.7% in the first quarter. Advisory Services Network LLC now owns 10,072 shares of the company’s stock valued at $53,000 after purchasing an additional 9,875 shares in the last quarter. Finally, Stratos Wealth Partners LTD. bought a new stake in New Age Beverages in the first quarter valued at approximately $56,000. 13.86% of the stock is owned by hedge funds and other institutional investors.
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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