Barfresh Food Group Inc. (OTCMKTS:BRFH) had its price objective lowered by stock analysts at Maxim Group from $2.00 to $1.50 in a note issued to investors on Wednesday. The firm currently has a “buy” rating on the stock. Maxim Group’s target price suggests a potential upside of 145.90% from the company’s previous close.

The analysts wrote, “3Q17 revenue of $0.68M, up 42.0% y/y, was below both our estimate of $1.02M and consensus of $1.43M. Gross margin of 50.8%, up 620bps y/y, was above both our estimate of 45.7% and consensus of 44.4% due to an increase in bulk product purchases. GAAP EPS of ($0.02), compared to ($0.02) in 3Q16, was inline with both our estimate and consensus. BRFH announced the extension of its Sysco (SYY – $54.28 – NR) contract and a new agreement with a leading foodservice operator in Canada.””

Barfresh Food Group (OTCMKTS BRFH) opened at $0.61 on Wednesday. Barfresh Food Group has a 1 year low of $0.52 and a 1 year high of $0.83.

Barfresh Food Group (OTCMKTS:BRFH) last posted its quarterly earnings data on Tuesday, November 14th. The company reported ($0.02) earnings per share for the quarter, meeting the Zacks’ consensus estimate of ($0.02). Barfresh Food Group had a negative net margin of 521.81% and a negative return on equity of 110.07%. The business had revenue of $0.68 million for the quarter, compared to analysts’ expectations of $1.85 million. equities analysts expect that Barfresh Food Group will post -0.06 earnings per share for the current year.

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About Barfresh Food Group

Barfresh Food Group, Inc is a manufacturer and distributor of ready to blend frozen beverages. The Company’s portfolio of products includes smoothies, shakes and frappes. All of the Company’s products are portion controlled beverage ingredient packs, suitable for smoothies, shakes and frappes that can also be utilized for cocktails and mocktails.

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