Boston Beer (NYSE:SAM) Sets New 12-Month Low - Here's What Happened

The Boston Beer Company, Inc. (NYSE:SAM - Get Free Report)'s share price hit a new 52-week low on Wednesday . The company traded as low as $215.05 and last traded at $215.11, with a volume of 42753 shares. The stock had previously closed at $220.03.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Piper Sandler decreased their price target on shares of Boston Beer from $240.00 to $230.00 and set a "neutral" rating for the company in a research report on Thursday, April 17th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $279.00 price target on shares of Boston Beer in a research report on Tuesday, April 22nd. Roth Mkm reaffirmed 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. Morgan Stanley decreased their price target on shares of 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, Cfra Research upgraded shares of Boston Beer from a "moderate sell" rating to a "moderate buy" rating in a report on Thursday, April 24th. Eight investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Boston Beer has a consensus rating of "Hold" and a consensus price target of $286.12.

Boston Beer Trading Down 2.7%

The company's 50-day moving average price is $236.07 and its two-hundred day moving average price is $252.35. The company has a market cap of $2.32 billion, a P/E ratio of 30.66, a P/E/G ratio of 1.23 and a beta of 1.05.

Boston Beer (NYSE:SAM - Get Free Report) last released its 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. The company had revenue of $481.36 million during the quarter, compared to the consensus estimate of $436.27 million. Boston Beer had a net margin of 3.82% and a return on equity of 11.76%. The company's revenue was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.04 EPS. As a group, analysts anticipate that The Boston Beer Company, Inc. will post 9.29 earnings per share for the current year.

Institutional Investors Weigh In On Boston Beer

A number of institutional investors have recently modified their holdings of the business. Intech Investment Management LLC grew its position in shares of Boston Beer by 300.6% during the 1st quarter. Intech Investment Management LLC now owns 8,097 shares of the company's stock valued at $1,934,000 after buying an additional 6,076 shares during the last quarter. Plato Investment Management Ltd bought a new stake in shares of Boston Beer during the 1st quarter valued at about $104,000. Bayforest Capital Ltd grew its position in shares of Boston Beer by 576.3% during the 1st quarter. Bayforest Capital Ltd now owns 1,826 shares of the company's stock valued at $436,000 after buying an additional 1,556 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Boston Beer by 5.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 21,902 shares of the company's stock valued at $5,231,000 after buying an additional 1,067 shares during the last quarter. Finally, Empowered Funds LLC grew its position in shares of Boston Beer by 8.8% during the 1st quarter. Empowered Funds LLC now owns 1,207 shares of the company's stock valued at $288,000 after buying an additional 98 shares during the last quarter. Institutional investors own 81.13% of the company's stock.

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.