Reed’s (REED) Receives Average Rating of “Strong Buy” from Analysts
Shares of Reed’s (NYSE:REED) have been given an average broker rating score of 1.00 (Strong Buy) from the two analysts that cover the company, Zacks Investment Research reports. Two equities research analysts have rated the stock with a strong buy recommendation.
Analysts have set a 12-month consensus price target of $7.50 for the company and are anticipating that the company will post ($0.03) earnings per share for the current quarter, according to Zacks. Zacks has also assigned Reed’s an industry rank of 61 out of 265 based on the ratings given to related companies.
A number of equities analysts have recently weighed in on the company. Zacks Investment Research raised Reed’s from a “sell” rating to a “hold” rating in a report on Wednesday, October 12th. Wunderlich reissued a “buy” rating and issued a $8.00 price target (down from $10.00) on shares of Reed’s in a report on Friday, August 5th.
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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 about 1.56% of Reed’s worth $535,000 at the end of the most recent reporting period.
Reed’s (NYSE:REED) remained flat at $4.20 during midday trading on Wednesday. 4,451 shares of the stock were exchanged. The firm’s 50-day moving average is $3.69 and its 200 day moving average is $3.42. The firm’s market capitalization is $58.41 million. Reed’s has a 1-year low of $2.25 and a 1-year high of $6.91.
Reed’s (NYSE:REED) last released its quarterly earnings results on Thursday, October 13th. The company reported ($0.02) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.04) by $0.02. The company earned $12.30 million during the quarter. On average, equities research analysts expect that Reed’s will post ($0.17) EPS for the current year.
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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