Cowen upgraded shares of Boston Beer (NYSE:SAM) from a market perform rating to an outperform rating in a research report report published on Thursday morning, BenzingaRatingsTable reports. The firm currently has $450.00 target price on the stock, up from their prior target price of $386.00.
A number of other research firms also recently weighed in on SAM. BMO Capital Markets upgraded Boston Beer from a market perform rating to an outperform rating and upped their target price for the company from $350.00 to $410.00 in a research report on Thursday, September 26th. Zacks Investment Research downgraded Boston Beer from a strong-buy rating to a hold rating and set a $415.00 target price for the company. in a research report on Wednesday, June 26th. Guggenheim set a $462.00 target price on Boston Beer and gave the company a buy rating in a research report on Monday, September 23rd. Jefferies Financial Group downgraded Boston Beer from a hold rating to an underperform rating and cut their target price for the company from $360.00 to $332.00 in a research report on Tuesday, September 3rd. Finally, MKM Partners began coverage on Boston Beer in a research report on Friday, September 20th. They set a neutral rating and a $333.00 target price for the company. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the stock. The stock has an average rating of Hold and a consensus price target of $379.84.
NYSE:SAM opened at $393.56 on Thursday. The stock has a fifty day moving average price of $384.43 and a 200-day moving average price of $358.00. The company has a market cap of $4.87 billion, a price-to-earnings ratio of 43.45, a PEG ratio of 4.45 and a beta of 0.63. Boston Beer has a fifty-two week low of $230.93 and a fifty-two week high of $444.64.
Boston Beer (NYSE:SAM) last released its earnings results on Thursday, July 25th. The company reported $2.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.51. The firm had revenue of $318.40 million during the quarter, compared to the consensus estimate of $308.49 million. Boston Beer had a return on equity of 22.89% and a net margin of 9.92%. The company’s revenue was up 16.6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.98 EPS. On average, analysts expect that Boston Beer will post 9.13 EPS for the current fiscal year.
In other news, Director Jean Michel Valette sold 2,500 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $400.00, for a total transaction of $1,000,000.00. Following the completion of the transaction, the director now owns 27,258 shares of the company’s stock, valued at approximately $10,903,200. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman C James Koch sold 4,481 shares of the business’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $400.00, for a total value of $1,792,400.00. The disclosure for this sale can be found here. Insiders have sold a total of 62,000 shares of company stock valued at $24,251,845 in the last three months. 28.40% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the business. NEXT Financial Group Inc boosted its position in shares of Boston Beer by 231.0% during the 3rd quarter. NEXT Financial Group Inc now owns 609 shares of the company’s stock valued at $222,000 after purchasing an additional 425 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in shares of Boston Beer by 18.2% during the 3rd quarter. Envestnet Asset Management Inc. now owns 5,438 shares of the company’s stock valued at $1,980,000 after purchasing an additional 836 shares in the last quarter. Signaturefd LLC bought a new position in Boston Beer in the third quarter worth approximately $73,000. State of Alaska Department of Revenue bought a new position in Boston Beer in the third quarter worth approximately $593,000. Finally, Atria Investments LLC bought a new position in Boston Beer in the second quarter worth approximately $214,000. 71.89% of the stock is owned by institutional investors and hedge funds.
Boston Beer Company Profile
The Boston Beer Company, Inc produces and sells alcohol beverages primarily in the United States. The company's flagship beer is Samuel Adams Boston Lager. It offers various beers, hard ciders, and hard seltzers under the Samuel Adams, Twisted Tea, Angry Orchard Hard Cider, and Truly Hard Seltzer brand names.
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