Analysts expect New Age Beverages Corp (NASDAQ:NBEV) to post sales of $59.60 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for New Age Beverages’ earnings, with the highest sales estimate coming in at $60.00 million and the lowest estimate coming in at $59.19 million. New Age Beverages posted sales of $11.56 million during the same quarter last year, which suggests a positive year over year growth rate of 415.6%. The company is expected to announce its next earnings results before the market opens on Thursday, May 9th.
On average, analysts expect that New Age Beverages will report full-year sales of $302.24 million for the current year, with estimates ranging from $284.47 million to $320.00 million. For the next fiscal year, analysts expect that the firm will post sales of $304.22 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow New Age Beverages.
Several research analysts recently commented on the stock. Zacks Investment Research upgraded shares of New Age Beverages from a “hold” rating to a “strong-buy” rating and set a $7.00 price objective for the company in a research note on Thursday, January 24th. BidaskClub cut shares of New Age Beverages from a “buy” rating to a “hold” rating in a research report on Saturday, February 9th. TheStreet upgraded shares of New Age Beverages from a “d+” rating to a “c-” rating in a research report on Friday, February 22nd. Alliance Global Partners started coverage on shares of New Age Beverages in a research note on Tuesday, March 26th. They issued a “buy” rating and a $8.00 price target for the company. Finally, Northland Securities reaffirmed a “buy” rating and issued a $8.00 target price on shares of New Age Beverages in a report on Monday, April 1st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. New Age Beverages presently has a consensus rating of “Hold” and an average target price of $6.95.
In other news, CEO Brent D. Willis sold 150,000 shares of the stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $5.97, for a total transaction of $895,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Reginald Kapteyn sold 18,000 shares of the stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $5.20, for a total value of $93,600.00. Following the transaction, the director now owns 68,812 shares of the company’s stock, valued at $357,822.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 318,000 shares of company stock valued at $1,703,100. Corporate insiders own 4.90% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Advisory Services Network LLC boosted its stake in shares of New Age Beverages by 5,012.7% during the 1st quarter. Advisory Services Network LLC now owns 10,072 shares of the company’s stock valued at $53,000 after buying an additional 9,875 shares during the last quarter. Stratos Wealth Partners LTD. purchased a new position in shares of New Age Beverages during the 1st quarter valued at approximately $56,000. Advisor Group Inc. boosted its stake in shares of New Age Beverages by 439.3% during the 4th quarter. Advisor Group Inc. now owns 10,785 shares of the company’s stock valued at $56,000 after buying an additional 8,785 shares during the last quarter. United Services Automobile Association purchased a new position in shares of New Age Beverages during the 4th quarter valued at approximately $57,000. Finally, GSA Capital Partners LLP bought a new position in New Age Beverages during the fourth quarter worth $63,000. Institutional investors own 11.79% of the company’s stock.
New Age Beverages stock opened at $5.21 on Tuesday. New Age Beverages has a twelve month low of $1.30 and a twelve month high of $9.99. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.63 and a quick ratio of 1.07.
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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