Evercore ISI Issues Pessimistic Forecast for Boston Beer (NYSE:SAM) Stock Price

Key Points

• Evercore ISI has lowered Boston Beer's price target from $275.00 to $250.00, while maintaining an "in-line" rating, indicating a potential upside of 15.92% from the current price.
• Boston Beer reported $5.45 earnings per share for the last quarter, exceeding consensus estimates of $4.37, although revenue of $587.95 million fell short of expectations.
• Institutional investors hold a significant stake in Boston Beer, with 81.13% of the company's stock owned by them, indicating strong institutional confidence.
• Shares of Boston Beer rose 6.9% during trading, closing at $215.67, and the company has a market capitalization of $2.40 billion.

Boston Beer (NYSE:SAM - Get Free Report) had its price objective decreased by equities researchers at Evercore ISI from $275.00 to $250.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an "in-line" rating on the stock. Evercore ISI's price objective would suggest a potential upside of 19.12% from the stock's current price.

A number of other brokerages have also issued reports on SAM. Morgan Stanley dropped their target price on Boston Beer from $270.00 to $245.00 and set an "equal weight" rating on the stock in a research report on Friday. Royal Bank Of Canada restated a "sector perform" rating and set a $279.00 price objective on shares of Boston Beer in a report on Tuesday, April 22nd. The Goldman Sachs Group cut their target price on Boston Beer from $219.00 to $187.00 and set a "sell" rating on the stock in a research report on Monday, June 23rd. Berenberg Bank assumed coverage on shares of Boston Beer in a research report on Wednesday, April 2nd. They set a "hold" rating and a $281.10 price target for the company. Finally, UBS Group dropped their price target on shares of Boston Beer from $275.00 to $214.00 and set a "neutral" rating for the company in a research note on Thursday, July 17th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Boston Beer has a consensus rating of "Hold" and a consensus target price of $258.09.

Boston Beer Stock Up 0.8%

Shares of NYSE SAM traded up $1.67 during trading on Friday, reaching $209.87. 70,162 shares of the stock were exchanged, compared to its average volume of 218,243. The company has a market capitalization of $2.34 billion, a price-to-earnings ratio of 29.60, a price-to-earnings-growth ratio of 1.58 and a beta of 0.99. The business's 50-day moving average price is $208.79 and its 200 day moving average price is $229.35. Boston Beer has a twelve month low of $185.34 and a twelve month high of $329.55.

Boston Beer (NYSE:SAM - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The company reported $5.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.37 by $1.08. Boston Beer had a net margin of 3.65% and a return on equity of 15.15%. The firm had revenue of $587.95 million for the quarter, compared to the consensus estimate of $599.18 million. During the same quarter in the previous year, the firm posted $4.39 EPS. The firm's quarterly revenue was up 1.5% on a year-over-year basis. As a group, sell-side analysts expect that Boston Beer will post 9.29 earnings per share for the current fiscal year.

Institutional Trading of Boston Beer

A number of institutional investors and hedge funds have recently modified their holdings of SAM. Rossby Financial LCC acquired a new position in shares of Boston Beer in the 1st quarter valued at about $25,000. GeoWealth Management LLC bought a new position in Boston Beer in the fourth quarter worth about $35,000. Elequin Capital LP acquired a new position in Boston Beer in the first quarter valued at approximately $30,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Boston Beer during the first quarter valued at approximately $44,000. Finally, First Horizon Advisors Inc. raised its position in shares of Boston Beer by 24.4% during the 1st quarter. First Horizon Advisors Inc. now owns 214 shares of the company's stock worth $51,000 after purchasing an additional 42 shares during the period. 81.13% 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, flavored malt beverages, and hard seltzers under the Samuel Adams, Twisted Tea, Truly, Angry Orchard, Dogfish Head, Angel City, and Coney Island brand names.