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

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

Other equities research analysts have also issued reports about the stock. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $279.00 price target on shares of Boston Beer in a research note on Tuesday, April 22nd. Berenberg Bank started coverage on shares of Boston Beer in a research note on Wednesday, April 2nd. They set a "hold" rating and a $281.10 price objective on the stock. Piper Sandler lowered their price objective on shares of Boston Beer from $240.00 to $230.00 and set a "neutral" rating on the stock in a research note on Thursday, April 17th. Needham & Company LLC restated a "hold" rating on shares of Boston Beer in a research note on Friday, April 25th. Finally, Citigroup boosted their price objective on shares of Boston Beer from $280.00 to $285.00 and gave the stock a "buy" rating in a research note on Monday, April 14th. One 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. Based on data from MarketBeat.com, Boston Beer currently has an average rating of "Hold" and a consensus price target of $272.01.

Boston Beer Price Performance

Shares of NYSE SAM traded down $3.84 during midday trading on Wednesday, reaching $194.50. 304,568 shares of the stock were exchanged, compared to its average volume of 168,286. The business has a 50-day simple moving average of $221.36 and a two-hundred day simple moving average of $238.77. The company has a market capitalization of $2.17 billion, a price-to-earnings ratio of 32.26, a P/E/G ratio of 1.46 and a beta of 0.99. Boston Beer has a 12 month low of $185.34 and a 12 month high of $329.55.

Boston Beer (NYSE:SAM - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The company reported $2.16 EPS for the quarter, beating the consensus estimate of $0.78 by $1.38. Boston Beer had a net margin of 3.30% and a return on equity of 13.81%. The business had revenue of $481.36 million for the quarter, compared to analysts' expectations of $436.27 million. During the same period in the previous year, the firm posted $1.04 EPS. The firm's revenue was up 6.5% compared to the same quarter last year. Equities research analysts expect that Boston Beer will post 9.29 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Boston Beer

Several institutional investors and hedge funds have recently added to or reduced their stakes in SAM. Parallel Advisors LLC raised its position in Boston Beer by 34.1% during the 2nd quarter. Parallel Advisors LLC now owns 673 shares of the company's stock worth $128,000 after purchasing an additional 171 shares during the last quarter. Voya Investment Management LLC raised its position in Boston Beer by 29.1% during the 1st quarter. Voya Investment Management LLC now owns 6,713 shares of the company's stock worth $1,603,000 after purchasing an additional 1,513 shares during the last quarter. Intech Investment Management LLC raised its position in Boston Beer by 300.6% during the 1st quarter. Intech Investment Management LLC now owns 8,097 shares of the company's stock worth $1,934,000 after purchasing an additional 6,076 shares during the last quarter. Plato Investment Management Ltd bought a new position in Boston Beer during the 1st quarter worth $104,000. Finally, Bayforest Capital Ltd raised its position in Boston Beer by 576.3% during the 1st quarter. Bayforest Capital Ltd now owns 1,826 shares of the company's stock worth $436,000 after purchasing an additional 1,556 shares during the last quarter. Institutional investors own 81.13% of the company's stock.

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.