Boston Beer Upgraded to “Outperform” at Zacks (SAM)
Boston Beer (NYSE:SAM) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a research report issued on Monday. The firm currently has a $261.20 target price on the stock. Zacks‘s price target indicates a potential upside of 12.44% from the stock’s previous close.
In other Boston Beer news, major shareholder C James Koch sold 2,800 shares of Boston Beer stock in a transaction dated Monday, June 30th. The shares were sold at an average price of $222.28, for a total value of $622,384.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.
SAM has been the subject of a number of other recent research reports. Analysts at Credit Agricole upgraded shares of Boston Beer from an “underperform” rating to an “outperform” rating in a research note on Thursday, June 12th. Analysts at Williams Capital cut their price target on shares of Boston Beer from $270.00 to $260.00 in a research note on Monday, May 5th. They now have an “outperform” rating on the stock. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $244.04.
Shares of Boston Beer (NYSE:SAM) traded up 0.12% on Monday, hitting $232.59. The stock had a trading volume of 25,169 shares. Boston Beer has a 1-year low of $174.16 and a 1-year high of $265.53. The stock’s 50-day moving average is $220.8 and its 200-day moving average is $228.7. The company has a market cap of $3.001 billion and a price-to-earnings ratio of 43.93.
Boston Beer (NYSE:SAM) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.62 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.70 by $0.08. The company had revenue of $183.80 million for the quarter, compared to the consensus estimate of $179.14 million. Analysts expect that Boston Beer will post $6.38 EPS for the current fiscal year.
The Boston Beer Company, Inc (NYSE:SAM) is a craft brewer in the United States.
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