Craft Brew Alliance, Inc. (NASDAQ:BREW) Cut to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of Craft Brew Alliance, Inc. (NASDAQ:BREW) from a strong-buy rating to a hold rating in a research note issued to investors on Monday, October 16th.

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. “

BREW has been the topic of several other reports. BidaskClub raised shares of Craft Brew Alliance from a hold rating to a buy rating in a research note on Wednesday, August 9th. Cowen and Company restated an outperform rating and issued a $20.00 target price (up previously from $19.00) on shares of Craft Brew Alliance in a report on Wednesday, August 9th. ValuEngine cut shares of Craft Brew Alliance from a hold rating to a sell rating in a report on Saturday, August 26th. Finally, Susquehanna Bancshares Inc began coverage on shares of Craft Brew Alliance in a report on Monday, October 2nd. They issued a positive rating and a $22.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Craft Brew Alliance presently has an average rating of Buy and a consensus target price of $21.00.

Craft Brew Alliance (NASDAQ:BREW) traded down 1.97% on Monday, reaching $17.45. 53,692 shares of the company were exchanged. The stock has a market capitalization of $336.66 million, a P/E ratio of 646.30 and a beta of 0.51. The company’s 50-day moving average price is $17.83 and its 200-day moving average price is $16.93. Craft Brew Alliance has a 12-month low of $12.00 and a 12-month high of $19.20.

Craft Brew Alliance (NASDAQ:BREW) last posted its quarterly earnings results on Wednesday, August 2nd. The company reported $0.09 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.11 by ($0.02). Craft Brew Alliance had a net margin of 0.27% and a return on equity of 0.80%. The company had revenue of $60.55 million for the quarter, compared to the consensus estimate of $58.54 million. During the same quarter in the previous year, the company posted $0.12 EPS. Craft Brew Alliance’s quarterly revenue was down 2.8% compared to the same quarter last year. Equities research analysts anticipate that Craft Brew Alliance will post $0.11 earnings per share for the current fiscal year.

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In related news, CEO Andrew J. Thomas sold 4,000 shares of Craft Brew Alliance stock in a transaction on Monday, August 7th. The shares were 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 3.70% of the stock is currently owned by company insiders.

A number of large investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP boosted its holdings in Craft Brew Alliance by 3.3% in the first quarter. Dimensional Fund Advisors LP now owns 1,265,394 shares of the company’s stock valued at $16,893,000 after acquiring an additional 40,152 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Craft Brew Alliance by 4.6% during the 2nd quarter. Vanguard Group Inc. now owns 385,787 shares of the company’s stock valued at $6,500,000 after buying an additional 16,970 shares in the last quarter. Kennedy Capital Management Inc. boosted its holdings in shares of Craft Brew Alliance by 14.4% during the 2nd quarter. Kennedy Capital Management Inc. now owns 319,249 shares of the company’s stock valued at $5,379,000 after buying an additional 40,248 shares in the last quarter. State Street Corp boosted its holdings in shares of Craft Brew Alliance by 10.1% during the 2nd quarter. State Street Corp now owns 208,916 shares of the company’s stock valued at $3,521,000 after buying an additional 19,235 shares in the last quarter. Finally, Balter Liquid Alternatives LLC boosted its holdings in shares of Craft Brew Alliance by 32.8% during the 2nd quarter. Balter Liquid Alternatives LLC now owns 205,301 shares of the company’s stock valued at $3,459,000 after buying an additional 50,749 shares in the last quarter. Institutional investors and hedge funds own 32.21% of the company’s stock.

Craft Brew Alliance Company Profile

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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