Cowen and Company Downgrades Boston Beer Co. (SAM) to Underperform
Boston Beer Co. (NYSE:SAM) was downgraded by equities research analysts at Cowen and Company from a “market perform” rating to an “underperform” rating in a research note issued on Wednesday.
Other analysts have also recently issued reports about the stock. William Blair began coverage on shares of Boston Beer in a research note on Wednesday. They issued an “outperform” rating for the company. Jefferies Group reaffirmed a “hold” rating and issued a $151.00 target price (up from $145.00) on shares of Boston Beer in a research note on Monday, July 25th. Zacks Investment Research cut shares of Boston Beer from a “hold” rating to a “sell” rating in a research note on Monday, July 25th. Susquehanna reaffirmed a “neutral” rating on shares of Boston Beer in a research note on Sunday, July 17th. Finally, Credit Suisse Group AG began coverage on shares of Boston Beer in a research note on Thursday, September 15th. They issued an “underperform” rating and a $156.00 target price for the company. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $176.00.
Shares of Boston Beer (NYSE:SAM) opened at 153.40 on Wednesday. Boston Beer has a 52 week low of $145.33 and a 52 week high of $260.51. The firm has a market capitalization of $1.89 billion, a PE ratio of 22.97 and a beta of 0.69. The stock has a 50 day moving average price of $180.47 and a 200 day moving average price of $171.43.
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Boston Beer (NYSE:SAM) last released its earnings results on Thursday, July 21st. The company reported $2.06 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.94 by $0.12. The firm earned $244.80 million during the quarter, compared to analysts’ expectations of $238.87 million. Boston Beer had a net margin of 9.22% and a return on equity of 19.60%. Equities analysts forecast that Boston Beer will post $6.53 earnings per share for the current fiscal year.
In related news, insider Martin F. Roper sold 7,000 shares of Boston Beer stock in a transaction on Monday, August 29th. The shares were sold at an average price of $191.12, for a total transaction of $1,337,840.00. Following the transaction, the insider now owns 12,273 shares in the company, valued at approximately $2,345,615.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Tybourne Capital Management Hk sold 600 shares of Boston Beer stock in a transaction on Monday, July 25th. The shares were sold at an average price of $186.33, for a total transaction of $111,798.00. The disclosure for this sale can be found here. Corporate insiders own 31.30% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. Norges Bank acquired a new position in Boston Beer during the fourth quarter valued at $13,347,000. Apex Capital Management raised its position in Boston Beer by 19.2% in the first quarter. Apex Capital Management now owns 54,898 shares of the company’s stock valued at $10,160,000 after buying an additional 8,830 shares during the last quarter. Ramsey Quantitative Systems raised its position in Boston Beer by 5.4% in the first quarter. Ramsey Quantitative Systems now owns 2,870 shares of the company’s stock valued at $531,000 after buying an additional 148 shares during the last quarter. Motley Fool Asset Management LLC acquired a new position in Boston Beer during the first quarter valued at $7,373,000. Finally, Teachers Advisors Inc. raised its position in Boston Beer by 1.8% in the first quarter. Teachers Advisors Inc. now owns 13,580 shares of the company’s stock valued at $2,513,000 after buying an additional 242 shares during the last quarter. Institutional investors and hedge funds own 65.23% of the company’s stock.
About Boston Beer
The Boston Beer Company, Inc (Boston Beer) is a craft brewer in the United States. The Company is engaged in the business of producing and selling alcohol beverages primarily in the domestic market and in international markets. The Company operates through two segments: Boston Beer Company segment and A&S Brewing Collaborative segment.
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