Boston Beer (NYSE:SAM) Price Target Cut to $250.00 by Analysts at Evercore ISI

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 target lowered by Evercore ISI from $275.00 to $250.00 in a report released on Friday,Benzinga reports. The firm presently has an "in-line" rating on the stock. Evercore ISI's price objective would indicate a potential upside of 16.31% from the stock's current price.

Several other analysts have also recently commented on the company. Morgan Stanley lowered 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. Sanford C. Bernstein reduced their price objective on shares of Boston Beer from $270.00 to $230.00 and set a "market perform" rating for the company in a report on Wednesday, July 9th. UBS Group decreased their target price on shares of Boston Beer from $275.00 to $214.00 and set a "neutral" rating for the company in a research report on Thursday, July 17th. Wall Street Zen downgraded shares of Boston Beer from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. Finally, Citigroup reduced their price target on shares of Boston Beer from $285.00 to $230.00 and set a "buy" rating for the company in a research note on Tuesday, July 15th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $258.09.

Boston Beer Trading Up 6.5%

Boston Beer stock traded up $13.14 during midday trading on Friday, hitting $214.95. The stock had a trading volume of 642,145 shares, compared to its average volume of 266,073. The business has a fifty day moving average price of $209.55 and a 200 day moving average price of $230.01. Boston Beer has a 12 month low of $185.34 and a 12 month high of $329.55. The stock has a market cap of $2.40 billion, a P/E ratio of 30.32, a P/E/G ratio of 1.58 and a beta of 0.99.

Boston Beer (NYSE:SAM - Get Free Report) last issued its earnings results on Thursday, July 24th. The company reported $5.45 earnings per share for the quarter, topping analysts' consensus estimates of $4.37 by $1.08. Boston Beer had a net margin of 3.65% and a return on equity of 15.03%. The company had revenue of $587.95 million for the quarter, compared to analysts' expectations of $599.18 million. During the same period in the prior year, the company earned $4.39 earnings per share. The firm's revenue was up 1.5% compared to the same quarter last year. On average, equities analysts anticipate that Boston Beer will post 9.29 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. First Horizon Advisors Inc. increased its holdings in shares of Boston Beer by 24.4% in the first quarter. First Horizon Advisors Inc. now owns 214 shares of the company's stock valued at $51,000 after purchasing an additional 42 shares in the last quarter. Lazard Asset Management LLC increased its stake in shares of Boston Beer by 10.3% in the 4th quarter. Lazard Asset Management LLC now owns 515 shares of the company's stock valued at $153,000 after buying an additional 48 shares during the period. Cetera Investment Advisers raised its position in shares of Boston Beer by 4.6% during the fourth quarter. Cetera Investment Advisers now owns 1,269 shares of the company's stock worth $381,000 after acquiring an additional 56 shares during the last quarter. US Bancorp DE lifted its stake in shares of Boston Beer by 23.5% during the first quarter. US Bancorp DE now owns 336 shares of the company's stock valued at $80,000 after acquiring an additional 64 shares during the period. Finally, Bank of Montreal Can lifted its stake in shares of Boston Beer by 7.3% during the fourth quarter. Bank of Montreal Can now owns 1,001 shares of the company's stock valued at $300,000 after acquiring an additional 68 shares during the period. 81.13% of the stock is owned by institutional investors.

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.