Citigroup Has Lowered Expectations for Boston Beer (NYSE:SAM) Stock Price

Boston Beer (NYSE:SAM - Get Free Report) had its target price decreased by stock analysts at Citigroup from $285.00 to $230.00 in a report issued on Tuesday,Benzinga reports. The firm presently has a "buy" rating on the stock. Citigroup's price objective would suggest a potential upside of 20.04% from the company's previous close.

Several other equities research analysts have also commented on SAM. Berenberg Bank initiated coverage on Boston Beer in a research note on Wednesday, April 2nd. They set a "hold" rating and a $281.10 price objective for the company. Piper Sandler dropped their price target on 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 restated a "sector perform" rating and issued a $279.00 price objective on shares of Boston Beer in a report on Tuesday, April 22nd. Cfra Research raised shares of Boston Beer from a "moderate sell" rating to a "moderate buy" rating in a research note on Thursday, April 24th. Finally, Wall Street Zen lowered shares of Boston Beer from a "buy" rating to a "hold" rating in a report on Friday, June 27th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $267.01.

Boston Beer Stock Down 0.2%

Shares of NYSE:SAM traded down $0.40 during midday trading on Tuesday, reaching $191.60. The company's stock had a trading volume of 255,622 shares, compared to its average volume of 171,012. The stock has a fifty day moving average of $218.48 and a 200 day moving average of $236.17. Boston Beer has a twelve month low of $185.34 and a twelve month high of $329.55. The firm has a market capitalization of $2.14 billion, a PE ratio of 31.77, a P/E/G ratio of 1.44 and a beta of 0.99.

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 (EPS) for the quarter, beating 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 13.81% and a net margin of 3.30%. Boston Beer's revenue for the quarter was up 6.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.04 earnings per share. Sell-side analysts anticipate that Boston Beer will post 9.29 earnings per share for the current fiscal year.

Institutional Trading of Boston Beer

A number of institutional investors and hedge funds have recently bought and sold shares of SAM. Rossby Financial LCC purchased a new stake in shares of Boston Beer during the first quarter worth approximately $25,000. EverSource Wealth Advisors LLC increased its stake in Boston Beer by 2,225.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 93 shares of the company's stock valued at $28,000 after purchasing an additional 89 shares during the last quarter. Elequin Capital LP purchased a new position in Boston Beer in the first quarter valued at approximately $30,000. GeoWealth Management LLC purchased a new position in Boston Beer in the fourth quarter valued at approximately $35,000. Finally, Caitong International Asset Management Co. Ltd purchased a new position in Boston Beer in the first quarter valued at approximately $44,000. 81.13% of the stock is currently owned by hedge funds and other institutional investors.

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.

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