Reed’s (REED) Upgraded at Zacks Investment Research
Reed’s (NYSE:REED) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday.
According to Zacks, “Reed’s, Inc. develops, manufactures, and markets top selling sodas in natural foods markets and will is currently expanding its innovative, all natural, non-alcoholic beverages, candies and ice creams into the mainstream markets. Its non-alcoholic Ginger Brews are unique in the beverage industry being brewed from fresh ginger, spices and fruits. Award-winning gourmet product lines include: Reed’s Ginger Brews, Reed’s Ginger Juice Brews, Reed’s Ginger Candies and Reed’s Ginger Ice Creams. Additionally, the Company has acquired Virgil’s Root Beer and China Cola product lines. Reed’s products are sold through specialty gourmet and natural food stores, supermarket chains, retail stores and restaurants nationwide and in Canada. “
Separately, Wunderlich reiterated a “buy” rating and issued a $8.00 price target (down from $10.00) on shares of Reed’s in a research note on Friday, August 5th.
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Reed’s (NYSE:REED) opened at 4.03 on Wednesday. The firm’s market cap is $56.05 million. The company has a 50-day moving average of $3.53 and a 200 day moving average of $3.44. Reed’s has a 52-week low of $2.25 and a 52-week high of $6.91.
Reed’s (NYSE:REED) last issued its quarterly earnings results on Thursday, August 4th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by $0.01. On average, equities research analysts anticipate that Reed’s will post ($0.17) EPS for the current year.
A hedge fund recently raised its stake in Reed’s stock. Vanguard Group Inc. boosted its position in shares of Reed’s (NYSE:REED) by 5.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 216,739 shares of the company’s stock after buying an additional 11,800 shares during the period. Vanguard Group Inc. owned 1.56% of Reed’s worth $535,000 as of its most recent filing with the SEC.
Reed’s, Inc develops, manufactures, markets and sells natural non-alcoholic carbonated soft drinks, Kombucha, candies and ice creams. The Company manufactures, licenses, markets and sells several product lines, such as Reed’s Ginger Brews; Virgil’s Root Beer, Cream Sodas, Dr. Better and Real Cola, including ZERO diet sodas; Culture Club Kombucha; China Colas; Reed’s Ginger candy and ice creams, and Sonoma Sparkler and other juice based products.
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