The Boston Beer Company, Inc. (NYSE:SAM) Receives $286.12 Consensus Target Price from Analysts

The Boston Beer Company, Inc. (NYSE:SAM - Get Free Report) has received a consensus rating of "Hold" from the ten ratings firms that are currently covering the company, MarketBeat reports. Eight equities research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $286.12.

A number of research firms have weighed in on SAM. Roth Mkm reaffirmed a "buy" rating and set a $349.00 price objective (down from $389.00) on shares of Boston Beer in a research report on Wednesday, February 26th. Piper Sandler cut their price target on Boston Beer from $240.00 to $230.00 and set a "neutral" rating for the company in a research note on Thursday, April 17th. Citigroup upped their price objective on shares of Boston Beer from $280.00 to $285.00 and gave the stock a "buy" rating in a research report on Monday, April 14th. Cfra Research upgraded shares of Boston Beer from a "moderate sell" rating to a "moderate buy" rating in a research report on Thursday, April 24th. Finally, Wall Street Zen upgraded shares of Boston Beer from a "hold" rating to a "buy" rating in a research report on Friday, April 25th.

Hedge Funds Weigh In On Boston Beer

Large investors have recently made changes to their positions in the stock. Entropy Technologies LP purchased a new position in Boston Beer in the fourth quarter valued at about $368,000. Legato Capital Management LLC purchased a new position in Boston Beer in the 4th quarter valued at approximately $1,966,000. Charles Schwab Investment Management Inc. increased its stake in Boston Beer by 5.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 94,356 shares of the company's stock valued at $28,305,000 after purchasing an additional 4,675 shares in the last quarter. Norges Bank purchased a new position in Boston Beer in the 4th quarter valued at approximately $30,741,000. Finally, Alberta Investment Management Corp increased its stake in Boston Beer by 67.2% in the 4th quarter. Alberta Investment Management Corp now owns 11,540 shares of the company's stock valued at $3,462,000 after purchasing an additional 4,640 shares in the last quarter. Hedge funds and other institutional investors own 81.13% of the company's stock.

Boston Beer Trading Down 2.7%

SAM stock traded down $6.15 on Monday, hitting $220.66. The company's stock had a trading volume of 180,563 shares, compared to its average volume of 155,233. The firm has a 50 day moving average of $239.02 and a two-hundred day moving average of $256.73. Boston Beer has a 1 year low of $215.10 and a 1 year high of $329.55. The stock has a market cap of $2.46 billion, a price-to-earnings ratio of 32.45, a price-to-earnings-growth ratio of 1.23 and a beta of 1.05.

Boston Beer (NYSE:SAM - Get Free Report) last announced its earnings results on Thursday, April 24th. The company reported $2.16 EPS for the quarter, beating analysts' consensus estimates of $0.78 by $1.38. Boston Beer had a net margin of 3.82% and a return on equity of 11.76%. The business had revenue of $481.36 million during the quarter, compared to analysts' expectations of $436.27 million. During the same period in the prior year, the company earned $1.04 earnings per share. The business's revenue was up 6.5% compared to the same quarter last year. As a group, equities analysts forecast that Boston Beer will post 9.29 EPS for the current fiscal year.

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.