Zacks Investment Research cut shares of Craft Brew Alliance (NASDAQ:BREW) from a buy rating to a hold rating in a research note issued to investors on Tuesday.
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 equities research analysts have also recently issued reports on the company. Susquehanna Bancshares set a $22.00 target price on Craft Brew Alliance and gave the stock a buy rating in a research note on Monday, December 11th. Stifel Nicolaus began coverage on Craft Brew Alliance in a research note on Tuesday, December 5th. They set a hold rating and a $19.00 target price for the company. Finally, Cowen reaffirmed a buy rating and issued a $20.00 price objective on shares of Craft Brew Alliance in a research note on Thursday, October 19th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of Buy and an average price target of $20.75.
Craft Brew Alliance (NASDAQ:BREW) traded down $0.40 during mid-day trading on Tuesday, reaching $18.95. The company’s stock had a trading volume of 61,469 shares, compared to its average volume of 58,250. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.18 and a current ratio of 1.56. The firm has a market capitalization of $365.67, a PE ratio of 210.56 and a beta of 0.47. Craft Brew Alliance has a one year low of $12.00 and a one year high of $20.10.
Craft Brew Alliance (NASDAQ:BREW) last posted its earnings results on Wednesday, November 8th. The company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.03. The company had revenue of $60.04 million during the quarter, compared to analysts’ expectations of $57.13 million. Craft Brew Alliance had a return on equity of 1.79% and a net margin of 0.85%. The firm’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.03 earnings per share. analysts predict that Craft Brew Alliance will post 0.12 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently modified their holdings of the company. The Manufacturers Life Insurance Company grew its stake in shares of Craft Brew Alliance by 15.3% in the second quarter. The Manufacturers Life Insurance Company now owns 12,325 shares of the company’s stock valued at $207,000 after buying an additional 1,638 shares in the last quarter. Cornerstone Capital Management Holdings LLC. acquired a new stake in shares of Craft Brew Alliance in the third quarter valued at $248,000. Goldman Sachs Group Inc. grew its stake in shares of Craft Brew Alliance by 17.7% in the second quarter. Goldman Sachs Group Inc. now owns 26,193 shares of the company’s stock valued at $441,000 after buying an additional 3,937 shares in the last quarter. Schwab Charles Investment Management Inc. grew its stake in shares of Craft Brew Alliance by 54.4% in the first quarter. Schwab Charles Investment Management Inc. now owns 27,800 shares of the company’s stock valued at $372,000 after buying an additional 9,800 shares in the last quarter. Finally, Algert Global LLC acquired a new stake in shares of Craft Brew Alliance in the third quarter valued at $499,000. 34.19% of the stock is owned by institutional investors and hedge funds.
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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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