Boston Beer (NYSE:SAM) Raised to "Moderate Buy" at Cfra Research

Cfra Research upgraded shares of Boston Beer (NYSE:SAM - Free Report) from a moderate sell rating to a moderate buy rating in a report issued on Thursday,Zacks.com reports.

Other analysts also recently issued reports about the stock. Morgan Stanley dropped their price objective on shares of Boston Beer from $290.00 to $270.00 and set an "equal weight" rating for the company in a report on Wednesday, February 26th. Roth Mkm reaffirmed a "buy" rating and set a $349.00 price target (down previously from $389.00) on shares of Boston Beer in a research report on Wednesday, February 26th. Citigroup upped their price target on Boston Beer from $280.00 to $285.00 and gave the stock a "buy" rating in a research note on Monday, April 14th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $279.00 target price on shares of Boston Beer in a research note on Tuesday, April 22nd. Finally, Piper Sandler cut their price objective on shares of Boston Beer from $240.00 to $230.00 and set a "neutral" rating on the stock in a research report on Thursday, April 17th. Eight equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Boston Beer presently has an average rating of "Hold" and a consensus price target of $286.12.

Boston Beer Trading Down 0.4 %

Shares of SAM traded down $0.95 during trading hours on Thursday, reaching $245.57. 290,184 shares of the stock traded hands, compared to its average volume of 238,650. Boston Beer has a 52 week low of $235.55 and a 52 week high of $248.12. The stock has a fifty day simple moving average of $237.45 and a 200 day simple moving average of $268.40. The company has a market cap of $2.76 billion, a price-to-earnings ratio of 36.11, a PEG ratio of 1.23 and a beta of 1.26.

Boston Beer (NYSE:SAM - Get Free Report) last issued its earnings results on Thursday, April 24th. The company reported $2.16 earnings per share for the quarter, topping analysts' consensus estimates of $0.78 by $1.38. The firm had revenue of $481.36 million during the quarter, compared to analyst estimates of $436.27 million. Boston Beer had a net margin of 3.82% and a return on equity of 11.76%. The company's quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter last year, the business earned $1.04 earnings per share. Analysts predict that Boston Beer will post 9.29 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. First Horizon Advisors Inc. increased its stake in Boston Beer by 24.4% during the first quarter. First Horizon Advisors Inc. now owns 214 shares of the company's stock worth $51,000 after acquiring an additional 42 shares during the last quarter. GAMMA Investing LLC lifted its stake 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 acquiring an additional 48 shares during the period. Lazard Asset Management LLC increased its holdings in Boston Beer by 10.3% during the fourth 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 increased its holdings in shares of Boston Beer by 4.6% in the 4th quarter. Cetera Investment Advisers now owns 1,269 shares of the company's stock valued at $381,000 after acquiring an additional 56 shares during the period. Finally, Exchange Traded Concepts LLC raised its holdings in Boston Beer by 2.5% in the fourth quarter. Exchange Traded Concepts LLC now owns 2,630 shares of the company's stock worth $789,000 after purchasing an additional 65 shares in 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.