Boston Beer (NYSE:SAM) Given New $230.00 Price Target at Sanford C. Bernstein

Boston Beer (NYSE:SAM - Free Report) had its price target cut by Sanford C. Bernstein from $270.00 to $230.00 in a report released on Wednesday,Benzinga reports. They currently have a market perform rating on the stock.

SAM has been the subject of a number of other reports. Needham & Company LLC reaffirmed a "hold" rating on shares of Boston Beer in a research report on Friday, April 25th. Cfra Research raised Boston Beer from a "moderate sell" rating to a "moderate buy" rating in a research report on Thursday, April 24th. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $279.00 target price on shares of Boston Beer in a research report on Tuesday, April 22nd. Piper Sandler decreased their target price 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. Finally, Wall Street Zen lowered Boston Beer from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $272.01.

Boston Beer Stock Performance

Shares of NYSE:SAM traded up $5.53 during midday trading on Wednesday, reaching $199.42. The company's stock had a trading volume of 113,411 shares, compared to its average volume of 168,382. The firm has a market capitalization of $2.22 billion, a price-to-earnings ratio of 33.09, a PEG ratio of 1.45 and a beta of 0.99. The firm has a 50 day moving average price of $220.34 and a two-hundred day moving average price of $238.47. Boston Beer has a fifty-two week low of $185.34 and a fifty-two week high of $329.55.

Boston Beer (NYSE:SAM - Get Free Report) last announced its quarterly earnings data 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 for 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%. The firm's revenue was up 6.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.04 EPS. As a group, research analysts anticipate that Boston Beer will post 9.29 earnings per share for the current year.

Hedge Funds Weigh In On Boston Beer

Several institutional investors have recently modified their holdings of SAM. Rossby Financial LCC bought a new position in shares of Boston Beer in the first quarter valued at approximately $25,000. EverSource Wealth Advisors LLC grew its holdings in shares of 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 acquiring an additional 89 shares in the last quarter. Elequin Capital LP bought a new position in shares of Boston Beer in the first quarter valued at approximately $30,000. GeoWealth Management LLC bought a new position in shares of Boston Beer in the fourth quarter valued at approximately $35,000. Finally, Caitong International Asset Management Co. Ltd bought a new position in shares of Boston Beer in the first quarter valued at approximately $44,000. 81.13% of the stock is owned by institutional investors.

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.