Boston Beer (NYSE:SAM) Downgraded to Hold Rating by Wall Street Zen

Boston Beer (NYSE:SAM - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued to investors on Friday.

Other research analysts have also recently issued research reports about the company. The Goldman Sachs Group decreased their price target on Boston Beer from $219.00 to $187.00 and set a "sell" rating for the company in a research note on Monday. Needham & Company LLC restated a "hold" rating on shares of Boston Beer in a research note on Friday, April 25th. Berenberg Bank began coverage on Boston Beer in a research note on Wednesday, April 2nd. They issued a "hold" rating and a $281.10 price target for the company. Piper Sandler lowered their target price on Boston Beer from $240.00 to $230.00 and set a "neutral" rating on the stock in a report on Thursday, April 17th. Finally, Citigroup increased their target price on Boston Beer from $280.00 to $285.00 and gave the company a "buy" rating in a report on Monday, April 14th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Boston Beer currently has an average rating of "Hold" and an average price target of $276.21.

Boston Beer Stock Performance

Shares of SAM stock traded up $2.84 during mid-day trading on Friday, hitting $189.90. The company's stock had a trading volume of 316,314 shares, compared to its average volume of 162,354. Boston Beer has a 52-week low of $185.34 and a 52-week high of $329.55. The business has a 50-day moving average price of $227.53 and a 200 day moving average price of $244.62. The stock has a market cap of $2.12 billion, a price-to-earnings ratio of 31.49, a PEG ratio of 1.37 and a beta of 1.05.

Boston Beer (NYSE:SAM - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The company reported $2.16 earnings per share for the quarter, topping the consensus estimate of $0.78 by $1.38. Boston Beer had a return on equity of 13.81% and a net margin of 3.30%. The firm had revenue of $481.36 million during the quarter, compared to analysts' expectations of $436.27 million. During the same quarter in the previous year, the business earned $1.04 earnings per share. The company's revenue was up 6.5% on a year-over-year basis. Equities research analysts predict that Boston Beer will post 9.29 EPS for the current fiscal year.

Institutional Trading of Boston Beer

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Rossby Financial LCC purchased a new stake in Boston Beer in the first quarter worth about $25,000. EverSource Wealth Advisors LLC increased its position in Boston Beer by 2,225.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 93 shares of the company's stock worth $28,000 after buying an additional 89 shares in the last quarter. Elequin Capital LP purchased a new stake in Boston Beer in the first quarter worth about $30,000. GeoWealth Management LLC purchased a new stake in Boston Beer in the fourth quarter worth about $35,000. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in Boston Beer in the first quarter worth about $44,000. Hedge funds and other institutional investors own 81.13% of the company's stock.

About Boston Beer

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, flavored malt beverages, and hard seltzers under the Samuel Adams, Twisted Tea, Truly, Angry Orchard, Dogfish Head, Angel City, and Coney Island brand names.

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