Boston Beer (NYSE:SAM) Upgraded by Wall Street Zen to Buy Rating

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

Other research analysts have also recently issued reports about the company. Citigroup lifted their price target on Boston Beer from $280.00 to $285.00 and gave the company a "buy" rating in a research report on Monday, April 14th. Roth Mkm reiterated a "buy" rating and set a $349.00 price target (down from $389.00) on shares of Boston Beer in a research report on Wednesday, February 26th. Needham & Company LLC reiterated a "hold" rating on shares of Boston Beer in a research report on Friday, April 25th. Morgan Stanley cut their price objective on Boston Beer from $290.00 to $270.00 and set an "equal weight" rating for the company in a research report on Wednesday, February 26th. Finally, UBS Group boosted their price objective on Boston Beer from $265.00 to $279.00 and gave the company a "neutral" rating in a research report on Thursday, April 17th. Eight investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $286.12.

Boston Beer Stock Down 1.0%

Shares of NYSE:SAM traded down $2.17 during trading on Friday, hitting $205.36. The stock had a trading volume of 242,300 shares, compared to its average volume of 157,498. The stock has a 50-day simple moving average of $234.97 and a two-hundred day simple moving average of $250.84. The stock has a market capitalization of $2.29 billion, a price-to-earnings ratio of 34.06, a price-to-earnings-growth ratio of 1.52 and a beta of 1.05. Boston Beer has a 12-month low of $204.85 and a 12-month high of $329.55.

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

Institutional Trading of Boston Beer

Large investors have recently made changes to their positions in the company. Rossby Financial LCC purchased a new stake in shares of Boston Beer during the first quarter worth approximately $25,000. EverSource Wealth Advisors LLC boosted its stake in Boston Beer by 2,225.0% during 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 during the last quarter. Elequin Capital LP acquired a new position in Boston Beer during the first quarter worth $30,000. GeoWealth Management LLC acquired a new position in Boston Beer during the fourth quarter worth $35,000. Finally, Caitong International Asset Management Co. Ltd acquired a new position in Boston Beer during the first quarter worth $44,000. 81.13% of the stock is currently owned by hedge funds and other institutional investors.

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.