Boston Beer (NYSE:SAM) PT Lowered to $325.00

Boston Beer (NYSE:SAM) had its target price trimmed by Piper Sandler from $344.00 to $325.00 in a research note released on Friday, Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other research firms have also weighed in on SAM. StockNews.com lowered shares of Boston Beer from a buy rating to a hold rating in a report on Wednesday, June 12th. The Goldman Sachs Group lowered their price objective on Boston Beer from $257.00 to $250.00 and set a sell rating for the company in a research note on Tuesday, April 9th. Deutsche Bank Aktiengesellschaft upped their target price on Boston Beer from $273.00 to $283.00 and gave the company a hold rating in a research report on Wednesday, July 17th. Evercore ISI raised their price target on shares of Boston Beer from $310.00 to $325.00 and gave the stock an in-line rating in a research report on Friday, April 26th. Finally, Jefferies Financial Group raised shares of Boston Beer from a hold rating to a buy rating and upped their price target for the company from $335.00 to $360.00 in a report on Tuesday, May 14th. One equities 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’s stock. Based on data from MarketBeat, the company currently has an average rating of Hold and an average target price of $328.69.

Boston Beer Price Performance

Shares of SAM opened at $284.09 on Friday. Boston Beer has a 12 month low of $254.40 and a 12 month high of $395.52. The stock’s 50-day moving average is $286.90 and its two-hundred day moving average is $304.74. The stock has a market cap of $3.39 billion, a PE ratio of 35.64, a P/E/G ratio of 1.17 and a beta of 1.03.

Boston Beer (NYSE:SAM) last announced its earnings results on Thursday, July 25th. The company reported $4.39 EPS for the quarter, missing the consensus estimate of $4.99 by ($0.60). The company had revenue of $579.10 million for the quarter, compared to analysts’ expectations of $597.33 million. Boston Beer had a net margin of 4.39% and a return on equity of 9.69%. The business’s quarterly revenue was down 4.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.72 earnings per share. On average, research analysts anticipate that Boston Beer will post 9.78 earnings per share for the current year.

Hedge Funds Weigh In On Boston Beer

A number of hedge funds and other institutional investors have recently bought and sold shares of SAM. SG Americas Securities LLC bought a new stake in shares of Boston Beer in the 4th quarter worth approximately $419,000. Raymond James & Associates increased its position in Boston Beer by 12.4% in the fourth quarter. Raymond James & Associates now owns 1,126 shares of the company’s stock worth $389,000 after buying an additional 124 shares during the period. Pacer Advisors Inc. lifted its stake in Boston Beer by 29.2% in the fourth quarter. Pacer Advisors Inc. now owns 1,412 shares of the company’s stock valued at $488,000 after buying an additional 319 shares during the last quarter. Oak Thistle LLC acquired a new position in shares of Boston Beer during the fourth quarter valued at $1,575,000. Finally, Camelot Portfolios LLC grew its position in shares of Boston Beer by 69.0% during the fourth quarter. Camelot Portfolios LLC now owns 980 shares of the company’s stock worth $339,000 after acquiring an additional 400 shares during the last quarter. 81.13% of the stock is currently owned by institutional investors and hedge funds.

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.