Boston Beer Co. (SAM) Stock Rating Reaffirmed by Cowen and Company
Boston Beer Co. (NYSE:SAM)‘s stock had its “underperform” rating reaffirmed by research analysts at Cowen and Company in a research report issued on Wednesday. They currently have a $135.00 price objective on the stock, up from their prior price objective of $128.00. Cowen and Company’s target price suggests a potential downside of 17.08% from the company’s previous close.
A number of other research firms have also issued reports on SAM. William Blair initiated coverage on Boston Beer in a research note on Wednesday, September 21st. They issued an “outperform” rating for the company. Jefferies Group restated a “hold” rating on shares of Boston Beer in a research note on Wednesday, August 10th. Zacks Investment Research lowered Boston Beer from a “hold” rating to a “sell” rating in a research note on Monday, July 25th. Credit Suisse Group AG initiated coverage on Boston Beer in a research note on Thursday, September 15th. They set an “underperform” rating and a $156.00 price objective for the company. Finally, Susquehanna restated a “hold” rating and set a $165.00 price objective on shares of Boston Beer in a research note on Sunday, July 3rd. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $174.55.
Shares of Boston Beer (NYSE:SAM) traded up 2.89% during midday trading on Wednesday, reaching $162.80. The company’s stock had a trading volume of 205,929 shares. The firm has a market capitalization of $2.00 billion, a PE ratio of 24.38 and a beta of 0.64. Boston Beer has a 1-year low of $145.33 and a 1-year high of $260.51. The company’s 50-day moving average price is $166.72 and its 200 day moving average price is $168.04.
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Boston Beer (NYSE:SAM) last posted its earnings results on Thursday, July 21st. The company reported $2.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.94 by $0.12. Boston Beer had a return on equity of 19.60% and a net margin of 9.22%. The business earned $244.80 million during the quarter, compared to analyst estimates of $238.87 million. On average, equities research analysts forecast that Boston Beer will post $6.46 earnings per share for the current year.
In related news, VP David L. Grinnell sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 21st. The stock was sold at an average price of $164.81, for a total value of $164,810.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Martin F. Roper sold 7,000 shares of the firm’s stock in a transaction that occurred on Monday, August 29th. The shares were sold at an average price of $191.12, for a total value of $1,337,840.00. Following the completion of the sale, the insider now owns 12,273 shares in the company, valued at $2,345,615.76. The disclosure for this sale can be found here. 31.30% of the stock is owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of the stock. Tower Research Capital LLC TRC boosted its stake in Boston Beer by 7.6% in the second quarter. Tower Research Capital LLC TRC now owns 965 shares of the company’s stock valued at $165,000 after buying an additional 68 shares in the last quarter. Advisor Group Inc. acquired a new stake in Boston Beer during the second quarter valued at approximately $199,000. Teacher Retirement System of Texas boosted its stake in Boston Beer by 12.9% in the second quarter. Teacher Retirement System of Texas now owns 1,267 shares of the company’s stock valued at $217,000 after buying an additional 145 shares in the last quarter. Diversified Trust Co acquired a new stake in Boston Beer during the second quarter valued at approximately $218,000. Finally, Pacad Investment Ltd. acquired a new stake in Boston Beer during the second quarter valued at approximately $222,000. Hedge funds and other institutional investors own 65.23% of the company’s stock.
Boston Beer Company Profile
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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