Boston Beer (NYSE:SAM) PT Raised to $325.00

Boston Beer (NYSE:SAM - Get Free Report) had its target price raised by stock analysts at Evercore ISI from $310.00 to $325.00 in a research report issued on Friday, Benzinga reports. The brokerage presently has an "in-line" rating on the stock. Evercore ISI's target price would suggest a potential upside of 14.76% from the stock's current price.

A number of other equities research analysts also recently issued reports on SAM. The Goldman Sachs Group cut their target price on shares of Boston Beer from $257.00 to $250.00 and set a "sell" rating for the company in a research report on Tuesday, April 9th. Sanford C. Bernstein raised shares of Boston Beer from an "underperform" rating to a "market perform" rating and boosted their price target for the company from $280.00 to $335.00 in a report on Tuesday, January 16th. Royal Bank of Canada reissued a "sector perform" rating and set a $337.00 price objective on shares of Boston Beer in a report on Wednesday, February 28th. Piper Sandler assumed coverage on Boston Beer in a research report on Friday, March 22nd. They issued an "overweight" rating and a $350.00 price objective for the company. Finally, Morgan Stanley reduced their price objective on Boston Beer from $285.00 to $275.00 and set an "underweight" rating on the stock in a report on Wednesday, February 28th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $335.21.

Boston Beer Stock Down 1.4 %

NYSE SAM traded down $4.07 on Friday, hitting $283.20. The stock had a trading volume of 398,824 shares, compared to its average volume of 144,397. Boston Beer has a one year low of $274.78 and a one year high of $395.52. The company's 50-day moving average is $303.71 and its two-hundred day moving average is $333.63. The stock has a market cap of $3.40 billion, a price-to-earnings ratio of 45.68, a P/E/G ratio of 1.20 and a beta of 1.02.

Boston Beer (NYSE:SAM - Get Free Report) last issued its quarterly earnings results on Thursday, April 25th. The company reported $1.04 earnings per share for the quarter, beating analysts' consensus estimates of $0.08 by $0.96. The company had revenue of $426.05 million during the quarter, compared to the consensus estimate of $414.18 million. Boston Beer had a net margin of 3.61% and a return on equity of 8.13%. On average, sell-side analysts anticipate that Boston Beer will post 9.9 earnings per share for the current year.

Insider Activity at Boston Beer

In other Boston Beer news, insider Carolyn L. O'boyle sold 102 shares of the stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $350.72, for a total value of $35,773.44. Following the completion of the sale, the insider now owns 2,630 shares in the company, valued at $922,393.60. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, insider Carolyn L. O'boyle sold 102 shares of Boston Beer stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $350.72, for a total value of $35,773.44. Following the transaction, the insider now directly owns 2,630 shares of the company's stock, valued at $922,393.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Carolyn L. O'boyle sold 101 shares of the firm's stock in a transaction on Monday, April 1st. The shares were sold at an average price of $303.49, for a total value of $30,652.49. Following the sale, the insider now directly owns 7,029 shares in the company, valued at approximately $2,133,231.21. The disclosure for this sale can be found here. 23.30% of the stock is owned by insiders.

Institutional Trading of Boston Beer

Several hedge funds have recently bought and sold shares of SAM. Covestor Ltd increased its stake in shares of Boston Beer by 88.4% during the 3rd quarter. Covestor Ltd now owns 81 shares of the company's stock worth $32,000 after purchasing an additional 38 shares during the last quarter. Quarry LP bought a new position in Boston Beer in the 4th quarter valued at approximately $42,000. First Command Advisory Services Inc. bought a new stake in shares of Boston Beer in the third quarter worth approximately $56,000. DekaBank Deutsche Girozentrale purchased a new stake in Boston Beer during the 3rd quarter valued at $59,000. Finally, CWM LLC grew its position in Boston Beer by 264.2% during the third quarter. CWM LLC now owns 193 shares of the company's stock valued at $75,000 after buying an additional 140 shares during the period. Institutional investors and hedge funds own 81.13% of the company's stock.

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.