Boston Beer (NYSE:SAM) Shares Down 4.1% After Analyst Downgrade

The Boston Beer Company, Inc. (NYSE:SAM) shares traded down 4.1% 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. 8,966 shares were traded during trading, a decline of 95% from the average session volume of 174,040 shares. The stock had previously closed at $290.91.

Several other equities research analysts have also issued reports on SAM. Citigroup lowered their target price on shares of Boston Beer from $350.00 to $315.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 16th. Evercore ISI raised their price target on shares of Boston Beer from $310.00 to $325.00 and gave the company an “in-line” rating in a research note on Friday, April 26th. Piper Sandler decreased their price target on shares of Boston Beer from $344.00 to $325.00 and set an “overweight” rating on the stock in a research note on Friday. Deutsche Bank Aktiengesellschaft raised their price target on shares of Boston Beer from $273.00 to $283.00 and gave the company a “hold” rating in a research note on Wednesday, July 17th. Finally, Jefferies Financial Group upgraded shares of Boston Beer from a “hold” rating to a “buy” rating and increased their price objective for the company from $335.00 to $360.00 in a report on Tuesday, May 14th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Boston Beer presently has an average rating of “Hold” and an average target price of $328.69.

Institutional Trading of Boston Beer

Hedge funds and other institutional investors have recently made changes to their positions in the company. LRI Investments LLC acquired a new stake in shares of Boston Beer during the 1st quarter worth approximately $28,000. Quarry LP acquired a new stake in shares of Boston Beer during the 4th quarter worth approximately $42,000. ORG Partners LLC acquired a new stake in shares of Boston Beer during the 2nd quarter worth approximately $48,000. CWM LLC increased its holdings in shares of Boston Beer by 17.6% during 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 last quarter. Finally, Principal Securities Inc. acquired a new stake in shares of Boston Beer during the 4th quarter worth approximately $82,000. Institutional investors and hedge funds own 81.13% of the company’s stock.

Boston Beer Trading Down 4.1 %

The stock’s fifty day moving average price is $286.72 and its 200-day moving average price is $305.19. The firm has a market cap of $3.33 billion, a price-to-earnings ratio of 36.50, a P/E/G ratio of 1.17 and a beta of 1.03.

Boston Beer (NYSE:SAM) last announced its quarterly earnings results on Thursday, July 25th. The company reported $4.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $597.33 million. During the same quarter in the prior year, the business earned $4.72 EPS. The firm’s quarterly revenue was down 4.0% on a year-over-year basis. Analysts predict that The Boston Beer Company, Inc. will post 9.78 earnings per share for the current year.

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.