Boston Beer (NYSE:SAM) Rating Increased to Buy at StockNews.com

Boston Beer (NYSE:SAM - Get Free Report) was upgraded by analysts at StockNews.com from a "hold" rating to a "buy" rating in a report released on Friday.

SAM has been the topic of a number of other reports. Sanford C. Bernstein raised shares of Boston Beer from an "underperform" rating to a "market perform" rating and lifted their price target for the company from $280.00 to $335.00 in a research report on Tuesday, January 16th. Piper Sandler initiated coverage on Boston Beer in a report on Friday, March 22nd. They issued an "overweight" rating and a $350.00 price target for the company. Deutsche Bank Aktiengesellschaft upgraded Boston Beer from a "sell" rating to a "hold" rating and set a $273.00 price objective on the stock in a research note on Wednesday. Evercore ISI raised their target price on Boston Beer from $310.00 to $325.00 and gave the company an "in-line" rating in a report on Friday, April 26th. Finally, UBS Group decreased their price target on Boston Beer from $390.00 to $355.00 and set a "neutral" rating for the company in a report on Wednesday, February 28th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $335.00.

Boston Beer Stock Up 2.3 %

Shares of SAM traded up $6.58 during mid-day trading on Friday, hitting $291.11. The company had a trading volume of 491,994 shares, compared to its average volume of 186,397. Boston Beer has a 1-year low of $264.63 and a 1-year high of $395.52. The business's 50-day simple moving average is $291.48 and its 200-day simple moving average is $327.96. The stock has a market cap of $3.48 billion, a PE ratio of 36.53, a P/E/G ratio of 1.01 and a beta of 1.03.

Boston Beer (NYSE:SAM - Get Free Report) last announced its quarterly earnings data on Thursday, April 25th. The company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.96. Boston Beer had a net margin of 4.60% and a return on equity of 10.11%. The company had revenue of $426.05 million during the quarter, compared to analysts' expectations of $414.18 million. On average, sell-side analysts expect that Boston Beer will post 10.26 earnings per share for the current year.

Insider Transactions at Boston Beer

In other Boston Beer news, insider Carolyn L. O'boyle sold 101 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $303.49, for a total transaction of $30,652.49. Following the transaction, the insider now owns 7,029 shares in the company, valued at $2,133,231.21. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 24.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Boston Beer

A number of institutional investors have recently made changes to their positions in SAM. Envestnet Portfolio Solutions Inc. grew its holdings in Boston Beer by 5.7% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 609 shares of the company's stock valued at $210,000 after buying an additional 33 shares during the last quarter. Arizona State Retirement System raised its stake in Boston Beer by 1.2% during the 3rd quarter. Arizona State Retirement System now owns 2,759 shares of the company's stock valued at $1,075,000 after purchasing an additional 34 shares during the last quarter. CWM LLC boosted its holdings in Boston Beer by 17.6% in the 4th quarter. CWM LLC now owns 227 shares of the company's stock valued at $78,000 after purchasing an additional 34 shares during the period. Cardinal Capital Management grew its position in Boston Beer by 1.3% in the 4th quarter. Cardinal Capital Management now owns 2,784 shares of the company's stock worth $962,000 after purchasing an additional 36 shares during the last quarter. Finally, Covestor Ltd increased its holdings 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 period. 81.13% of the stock is currently owned by 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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