Boston Beer (NYSE:SAM) Shares Gap Up Following Strong Earnings

The Boston Beer Company, Inc. (NYSE:SAM - Get Free Report)'s stock price gapped up prior to trading on Friday following a stronger than expected earnings report. The stock had previously closed at $242.40, but opened at $252.97. Boston Beer shares last traded at $238.94, with a volume of 51,682 shares trading hands.

The company reported $2.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.78 by $1.38. The business had revenue of $481.36 million for the quarter, compared to analysts' expectations of $436.27 million. Boston Beer had a net margin of 3.82% and a return on equity of 11.76%. The business's revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.04 EPS.

Analysts Set New Price Targets

SAM has been the subject of several recent analyst reports. Citigroup boosted their price objective on Boston Beer from $280.00 to $285.00 and gave the stock a "buy" rating in a report on Monday, April 14th. StockNews.com raised shares of Boston Beer from a "hold" rating to a "buy" rating in a research note on Friday, April 25th. Berenberg Bank started coverage on shares of Boston Beer in a research report on Wednesday, April 2nd. They set a "hold" rating and a $281.10 price objective on the stock. Royal Bank of Canada reiterated a "sector perform" rating and issued a $279.00 target price on shares of Boston Beer in a research report on Tuesday, April 22nd. Finally, UBS Group raised their price target 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 analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $286.12.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in SAM. Rossby Financial LCC bought a new stake in Boston Beer during the 1st quarter valued at approximately $25,000. Blue Trust Inc. raised its position in Boston Beer by 405.6% in the 4th quarter. Blue Trust Inc. now owns 91 shares of the company's stock worth $26,000 after buying an additional 73 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in Boston Beer by 2,225.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 93 shares of the company's stock valued at $28,000 after acquiring an additional 89 shares during the period. GeoWealth Management LLC purchased a new position in shares of Boston Beer during the fourth quarter valued at approximately $35,000. Finally, GAMMA Investing LLC boosted its holdings in Boston Beer by 59.3% in the fourth quarter. GAMMA Investing LLC now owns 129 shares of the company's stock worth $39,000 after purchasing an additional 48 shares during the last quarter. 81.13% of the stock is owned by hedge funds and other institutional investors.

Boston Beer Stock Performance

The stock has a market capitalization of $2.76 billion, a P/E ratio of 36.04, a PEG ratio of 1.23 and a beta of 1.26. The firm has a fifty day moving average price of $237.45 and a two-hundred day moving average price of $268.40.

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.