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 research report issued to clients and 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 reaffirmed a “buy” rating and set a $8.00 price objective (down previously from $10.00) on shares of Reed’s in a research report on Friday, August 5th.
Reed’s (NYSE:REED) opened at 4.03 on Wednesday. Reed’s has a one year low of $2.25 and a one year high of $6.91. The firm’s market cap is $56.05 million. The company has a 50-day moving average price of $3.53 and a 200-day moving average price of $3.44.
Reed’s (NYSE:REED) last announced its quarterly earnings data on Thursday, August 4th. The company reported ($0.06) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.05) by $0.01. Equities analysts predict that Reed’s will post ($0.17) earnings per share for the current fiscal year.
A hedge fund recently raised its stake in Reed’s stock. Vanguard Group Inc. raised its stake in Reed’s (NYSE:REED) by 5.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). 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 approximately 1.56% of Reed’s worth $535,000 as of its most recent SEC filing.
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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