Shares of The Boston Beer Company, Inc. (NYSE:SAM – Get Free Report) dropped 4.1% during trading on Monday after Roth Mkm lowered their price target on the stock from $395.00 to $389.00. Roth Mkm currently has a buy rating on the stock. Boston Beer traded as low as $278.87 and last traded at $278.87. Approximately 8,966 shares traded hands during mid-day trading, a decline of 95% from the average daily volume of 174,040 shares. The stock had previously closed at $290.91.
Other equities analysts also recently issued research reports about the company. Jefferies Financial Group upgraded Boston Beer from a “hold” rating to a “buy” rating and increased their price objective for the stock from $335.00 to $360.00 in a report on Tuesday, May 14th. Deutsche Bank Aktiengesellschaft lifted their price objective on Boston Beer from $273.00 to $283.00 and gave the stock a “hold” rating in a report on Wednesday, July 17th. Evercore ISI raised their target price on Boston Beer from $310.00 to $325.00 and gave the stock an “in-line” rating in a research report on Friday, April 26th. Royal Bank of Canada dropped their target price on Boston Beer from $332.00 to $318.00 and set a “sector perform” rating on the stock in a research report on Friday. Finally, Morgan Stanley raised Boston Beer from an “underweight” rating to an “equal weight” rating and set a $290.00 target price on the stock in a research report on Wednesday, June 5th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $328.69.
Hedge Funds Weigh In On Boston Beer
Several large investors have recently modified their holdings of SAM. LRI Investments LLC purchased a new position in Boston Beer during the 1st quarter valued at $28,000. Quarry LP purchased a new position in Boston Beer during the 4th quarter valued at $42,000. ORG Partners LLC purchased a new position in Boston Beer during the 2nd quarter valued at $48,000. CWM LLC lifted its holdings in shares of Boston Beer by 17.6% in the 4th quarter. CWM LLC now owns 227 shares of the company’s stock worth $78,000 after buying an additional 34 shares during the period. Finally, Principal Securities Inc. purchased a new stake in shares of Boston Beer in the 4th quarter worth $82,000. Institutional investors own 81.13% of the company’s stock.
Boston Beer Stock Performance
The firm has a market capitalization of $3.39 billion, a PE ratio of 35.64, a PEG ratio of 1.17 and a beta of 1.03. The company has a fifty day simple moving average of $286.90 and a two-hundred day simple moving average of $304.74.
Boston Beer (NYSE:SAM – Get Free Report) last issued its earnings results on Thursday, July 25th. The company reported $4.39 earnings per share for the quarter, missing the consensus estimate of $4.99 by ($0.60). Boston Beer had a return on equity of 9.69% and a net margin of 4.39%. The firm had revenue of $579.10 million during the quarter, compared to analysts’ expectations of $597.33 million. During the same quarter in the prior year, the company posted $4.72 earnings per share. Boston Beer’s quarterly revenue was down 4.0% compared to the same quarter last year. On average, equities analysts anticipate that The Boston Beer Company, Inc. will post 9.78 earnings per share 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.