Zacks Investment Research Downgrades Boston Beer Company, Inc. (The) (SAM) to Hold

Zacks Investment Research downgraded shares of Boston Beer Company, Inc. (The) (NYSE:SAM) from a strong-buy rating to a hold rating in a research note issued to investors on Monday, October 16th.

According to Zacks, “Boston Beer has outperformed the industry in the past three months, largely driven by its three point growth plan focused on revival of Samuel Adams and Angry Orchard brands, cost saving initiatives and long-term innovation. The company's focus on pricing, product innovation and brand development are also likely to boost its operational performance and  market position. Moreover, the company’s brand-building efforts and initiatives to add new products remain key revenue drivers. These efforts also helped Boston Beer to mark its third straight earnings beat in the last reported quarter, where sales also topped estimates. However, results continue to be hurt by soft depletion trends. The company has been witnessing soft depletions for a while now, owing to weakness in Samuel Adams, soft craft beer and cider categories. Estimates have been stable lately ahead of the third quarter results.”

Other equities analysts also recently issued reports about the stock. BidaskClub raised shares of Boston Beer Company, Inc. (The) from a hold rating to a buy rating in a research note on Thursday, August 3rd. Jefferies Group LLC reaffirmed a hold rating on shares of Boston Beer Company, Inc. (The) in a research note on Thursday, September 7th. Royal Bank Of Canada reaffirmed a hold rating and set a $158.00 price objective on shares of Boston Beer Company, Inc. (The) in a research note on Friday, June 30th. Credit Suisse Group raised shares of Boston Beer Company, Inc. (The) from an underperform rating to a neutral rating and upped their price objective for the company from $140.00 to $150.00 in a research note on Tuesday, September 26th. Finally, Susquehanna Bancshares Inc reaffirmed a positive rating and set a $175.00 price objective (down from $179.00) on shares of Boston Beer Company, Inc. (The) in a research note on Friday, July 21st. Four research analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of $140.11.

Shares of Boston Beer Company, Inc. (NYSE SAM) opened at 176.05 on Monday. The firm has a 50 day moving average price of $162.79 and a 200-day moving average price of $146.76. Boston Beer Company, Inc. has a 12 month low of $128.70 and a 12 month high of $181.20. The company has a market cap of $2.11 billion, a P/E ratio of 25.05 and a beta of 0.56.

Boston Beer Company, Inc. (The) (NYSE:SAM) last posted its quarterly earnings results on Thursday, October 26th. The company reported $2.78 earnings per share for the quarter, topping the consensus estimate of $1.99 by $0.79. The business had revenue of $247.04 million during the quarter, compared to the consensus estimate of $256.73 million. Boston Beer Company, Inc. (The) had a net margin of 9.65% and a return on equity of 20.19%. The firm’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same period in the previous year, the firm posted $2.48 earnings per share. Analysts anticipate that Boston Beer Company, Inc. will post $5.87 earnings per share for the current fiscal year.

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Institutional investors and hedge funds have recently made changes to their positions in the business. Victory Capital Management Inc. grew its holdings in Boston Beer Company, Inc. (The) by 85.6% in the first quarter. Victory Capital Management Inc. now owns 826 shares of the company’s stock worth $119,000 after purchasing an additional 381 shares during the period. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Boston Beer Company, Inc. (The) by 95.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 842 shares of the company’s stock valued at $111,000 after buying an additional 411 shares during the last quarter. IFP Advisors Inc grew its holdings in shares of Boston Beer Company, Inc. (The) by 12.7% during the second quarter. IFP Advisors Inc now owns 1,206 shares of the company’s stock valued at $159,000 after buying an additional 136 shares during the last quarter. Advantus Capital Management Inc grew its holdings in shares of Boston Beer Company, Inc. (The) by 8.8% during the first quarter. Advantus Capital Management Inc now owns 1,230 shares of the company’s stock valued at $178,000 after buying an additional 100 shares during the last quarter. Finally, Quantitative Systematic Strategies LLC purchased a new stake in shares of Boston Beer Company, Inc. (The) during the third quarter valued at approximately $237,000. Institutional investors and hedge funds own 71.02% of the company’s stock.

Boston Beer Company, Inc. (The) Company Profile

The Boston Beer Company, Inc is a craft brewer in the United States. The Company is engaged in the business of producing and selling alcohol beverages primarily in the domestic market and in selected international markets. The Company operates through two segments: Boston Beer Company segment, and A&S Brewing Collaborative segment.

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