Boston Beer's (SAM) "Hold" Rating Reaffirmed at Needham & Company LLC

Boston Beer (NYSE:SAM - Get Free Report)'s stock had its "hold" rating reiterated by Needham & Company LLC in a research report issued to clients and investors on Friday,Benzinga reports.

A number of other research analysts have also recently commented on SAM. Morgan Stanley cut 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 note on Wednesday, February 26th. Roth Mkm reiterated a "buy" rating and issued a $349.00 price target (down from $389.00) on shares of Boston Beer in a research report on Wednesday, February 26th. Citigroup upped their target price on shares of Boston Beer from $280.00 to $285.00 and gave the stock a "buy" rating in a report on Monday, April 14th. Berenberg Bank began coverage on shares of Boston Beer in a report on Wednesday, April 2nd. They set a "hold" rating and a $281.10 price target for the company. Finally, UBS Group upped their price objective on shares of Boston Beer from $265.00 to $279.00 and gave the stock a "neutral" rating in a research note 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 MarketBeat, Boston Beer has a consensus rating of "Hold" and a consensus target price of $286.12.

Boston Beer Price Performance

Shares of Boston Beer stock traded down $1.46 during midday trading on Friday, hitting $245.06. The company had a trading volume of 179,193 shares, compared to its average volume of 171,687. The stock has a market cap of $2.76 billion, a PE ratio of 36.04, a P/E/G ratio of 1.23 and a beta of 1.26. Boston Beer has a 1-year low of $215.10 and a 1-year high of $339.77. The business's 50 day simple moving average is $237.45 and its two-hundred day simple moving average is $268.40.

Boston Beer (NYSE:SAM - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The company reported $2.16 EPS for the quarter, topping analysts' consensus estimates 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 return on equity of 11.76% and a net margin of 3.82%. The company's quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter last year, the company earned $1.04 EPS. On average, sell-side analysts expect that Boston Beer will post 9.29 EPS for the current fiscal year.

Institutional Inflows and Outflows

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

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.