Boston Beer Rating Lowered to Neutral at Zacks (SAM)
Boston Beer (NYSE:SAM) was downgraded by Zacks from an “outperform” rating to a “neutral” rating in a research report issued to clients and investors on Monday, StockRatingsNetwork reports. They currently have a $261.20 price target on the stock. Zacks‘ price objective would indicate a potential upside of 12.32% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. Analysts at Williams Capital upgraded shares of Boston Beer from a “market perform” rating to an “outperform” rating in a research note to investors on Monday. They now have a $263.00 price target on the stock, up previously from $210.00. Separately, analysts at Goldman Sachs Group Inc. reiterated a “neutral” rating on shares of Boston Beer in a research note to investors on Wednesday, September 18th. They now have a $233.00 price target on the stock, up previously from $180.00. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company. Boston Beer presently has a consensus rating of “Hold” and a consensus target price of $229.84.
Boston Beer (NYSE:SAM) traded up 1.48% during mid-day trading on Monday, hitting $236.01. 28,891 shares of the company’s stock traded hands. Boston Beer has a 52 week low of $109.69 and a 52 week high of $265.53. The stock has a 50-day moving average of $242.0 and a 200-day moving average of $194.8. The company has a market cap of $3.006 billion and a P/E ratio of 45.62.
Boston Beer (NYSE:SAM) last announced its earnings results on Wednesday, October 30th. The company reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.82 by $0.07. The company had revenue of $216.40 million for the quarter, compared to the consensus estimate of $200.42 million. During the same quarter in the previous year, the company posted $1.53 earnings per share. The company’s revenue for the quarter was up 30.0% on a year-over-year basis. On average, analysts predict that Boston Beer will post $5.28 earnings per share for the current fiscal year.
The Boston Beer Company, Inc (NYSE:SAM) is a craft brewer in the United States.
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