Boston Beer (NYSE:SAM - Get Free Report) had its target price cut by stock analysts at The Goldman Sachs Group from $219.00 to $187.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a "sell" rating on the stock. The Goldman Sachs Group's price objective indicates a potential downside of 3.79% from the company's current price.
SAM has been the topic of a number of other research reports. Royal Bank Of Canada restated a "sector perform" rating and issued a $279.00 target price on shares of Boston Beer in a research report on Tuesday, April 22nd. Morgan Stanley decreased their price target on shares of Boston Beer from $290.00 to $270.00 and set an "equal weight" rating on the stock in a research note on Wednesday, February 26th. Berenberg Bank started coverage on shares of Boston Beer in a research note on Wednesday, April 2nd. They issued a "hold" rating and a $281.10 price objective for the company. Citigroup increased their target price on shares of Boston Beer from $280.00 to $285.00 and gave the company a "buy" rating in a report on Monday, April 14th. Finally, 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. One analyst has rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $276.21.
Get Our Latest Report on Boston Beer
Boston Beer Trading Down 1.9%
Shares of NYSE:SAM traded down $3.80 during mid-day trading on Monday, reaching $194.37. The company had a trading volume of 145,739 shares, compared to its average volume of 159,266. Boston Beer has a one year low of $191.26 and a one year high of $329.55. The company's 50-day moving average price is $232.40 and its 200-day moving average price is $247.99. The firm has a market cap of $2.17 billion, a price-to-earnings ratio of 32.23, a PEG ratio of 1.45 and a beta of 1.05.
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 for the quarter, topping the consensus estimate of $0.78 by $1.38. The company had revenue of $481.36 million during the quarter, compared to analyst estimates 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 for the quarter was up 6.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.04 EPS. On average, research analysts anticipate that Boston Beer will post 9.29 EPS for the current fiscal year.
Hedge Funds Weigh In On Boston Beer
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Voya Investment Management LLC boosted its holdings in Boston Beer by 29.1% in the first 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 lifted its holdings in shares of Boston Beer by 300.6% during the 1st quarter. Intech Investment Management LLC now owns 8,097 shares of the company's stock valued at $1,934,000 after buying an additional 6,076 shares during the period. Plato Investment Management Ltd purchased a new position in shares of Boston Beer in the 1st quarter worth $104,000. Bayforest Capital Ltd grew its holdings in shares of Boston Beer by 576.3% in the first quarter. Bayforest Capital Ltd now owns 1,826 shares of the company's stock worth $436,000 after acquiring an additional 1,556 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Boston Beer by 5.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 21,902 shares of the company's stock worth $5,231,000 after acquiring an additional 1,067 shares during the period. 81.13% of the stock is owned by institutional investors.
About Boston Beer
(
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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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