Craft Brew Alliance Inc (NASDAQ:BREW) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday, October 17th. The firm presently has a $21.00 price objective on the stock. Zacks Investment Research‘s target price indicates a potential upside of 17.98% from the stock’s previous close.
According to Zacks, “Craft Brew Alliance Inc. is engaged in the business of brewing, marketing and selling of craft beers in the United States. The Company operates in two segments: Beer Related operations and Pubs and Other. Craft Brew owns and operates production breweries with adjacent restaurants or pubs in Portland, Oregon, Woodinville, Washington and Portsmouth, New Hampshire and in Kona, Hawaii. It offers its beer products under the Widmer Brothers, Redhook and Kona Brewing brand names. Craft Brew Alliance Inc., formerly known as Craft Brewers Alliance, Inc., is headquartered in Portland, Oregon. “
Several other research firms also recently weighed in on BREW. Susquehanna Bancshares Inc assumed coverage on Craft Brew Alliance in a research note on Monday, October 2nd. They set a “positive” rating and a $22.00 price target on the stock. ValuEngine upgraded Craft Brew Alliance from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. Cowen and Company reiterated a “buy” rating and set a $20.00 price target on shares of Craft Brew Alliance in a research note on Tuesday, September 12th. Finally, BidaskClub upgraded Craft Brew Alliance from a “hold” rating to a “buy” rating in a research note on Wednesday, August 9th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $21.00.
Craft Brew Alliance (BREW) traded down 1.93% during mid-day trading on Tuesday, hitting $17.80. The stock had a trading volume of 37,194 shares. Craft Brew Alliance has a 52 week low of $12.00 and a 52 week high of $19.20. The company’s 50 day moving average price is $17.83 and its 200 day moving average price is $16.93. The firm has a market cap of $343.42 million, a PE ratio of 659.26 and a beta of 0.51.
Craft Brew Alliance (NASDAQ:BREW) last announced its earnings results on Wednesday, August 2nd. The company reported $0.09 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.11 by ($0.02). Craft Brew Alliance had a net margin of 2.85% and a return on equity of 5.80%. The business had revenue of $60.55 million for the quarter, compared to analyst estimates of $58.54 million. During the same period in the prior year, the company earned $0.12 earnings per share. The company’s quarterly revenue was down 2.8% on a year-over-year basis. Analysts anticipate that Craft Brew Alliance will post $0.11 earnings per share for the current year.
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In other news, CEO Andrew J. Thomas sold 4,000 shares of the company’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $18.14, for a total value of $72,560.00. Following the sale, the chief executive officer now owns 7,834 shares in the company, valued at $142,108.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.70% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BREW. American International Group Inc. raised its holdings in Craft Brew Alliance by 7.0% in the 1st quarter. American International Group Inc. now owns 7,778 shares of the company’s stock worth $104,000 after purchasing an additional 510 shares during the period. The Manufacturers Life Insurance Company raised its holdings in Craft Brew Alliance by 15.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 12,325 shares of the company’s stock worth $207,000 after purchasing an additional 1,638 shares during the period. Perkins Capital Management Inc. raised its holdings in Craft Brew Alliance by 0.8% in the 2nd quarter. Perkins Capital Management Inc. now owns 12,550 shares of the company’s stock worth $211,000 after purchasing an additional 100 shares during the period. Parametric Portfolio Associates LLC raised its holdings in Craft Brew Alliance by 2.9% in the 1st quarter. Parametric Portfolio Associates LLC now owns 16,906 shares of the company’s stock worth $226,000 after purchasing an additional 476 shares during the period. Finally, Goldman Sachs Group Inc. acquired a new position in Craft Brew Alliance in the 1st quarter worth about $297,000. 32.21% of the stock is owned by institutional investors.
About Craft Brew Alliance
Craft Brew Alliance, Inc is a craft brewing company that is engaged in brewing, branding and bringing to market American craft beers. The Company operates through two segments: Beer Related operations, which include the brewing operations and related domestic and international beer and cider sales of its Kona, Widmer Brothers, Redhook and Omission beer brands, and Square Mile cider brand, and Pubs operations, which include its approximately five pubs, over four of which are located adjacent to its Beer Related operations, as well as other merchandise sales, and sales of its beers directly to customers.
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