Cowen and Company Reiterates Underperform Rating for Boston Beer Co. (SAM)
Boston Beer Co. (NYSE:SAM)‘s stock had its “underperform” rating reiterated by research analysts at Cowen and Company in a report released on Wednesday. They presently have a $135.00 target price on the stock, up from their prior target price of $128.00. Cowen and Company’s target price indicates a potential downside of 17.08% from the company’s current price.
Several other analysts also recently issued reports on SAM. Zacks Investment Research raised shares of Boston Beer from a “strong sell” rating to a “hold” rating in a research report on Tuesday, June 28th. Susquehanna reissued a “hold” rating and issued a $165.00 price target on shares of Boston Beer in a research report on Sunday, July 3rd. Jefferies Group reissued a “hold” rating and issued a $151.00 price target (up previously from $145.00) on shares of Boston Beer in a research report on Monday, July 25th. Credit Suisse Group AG started coverage on shares of Boston Beer in a research report on Thursday, September 15th. They issued an “underperform” rating and a $156.00 price target for the company. Finally, William Blair started coverage on shares of Boston Beer in a research report on Wednesday, September 21st. They issued an “outperform” rating for the company. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company’s stock. Boston Beer has an average rating of “Hold” and an average target price of $174.55.
Shares of Boston Beer (NYSE:SAM) traded up 2.89% during trading on Wednesday, hitting $162.80. 205,929 shares of the stock traded hands. The stock has a market cap of $2.00 billion, a price-to-earnings 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 stock has a 50 day moving average price of $166.83 and a 200-day moving average price of $168.08.
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Boston Beer (NYSE:SAM) last posted its quarterly earnings results on Thursday, July 21st. The company reported $2.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.94 by $0.12. Boston Beer had a net margin of 9.22% and a return on equity of 19.60%. The business earned $244.80 million during the quarter, compared to the consensus estimate of $238.87 million. Equities analysts forecast that Boston Beer will post $6.46 EPS for the current year.
In other news, insider Martin F. Roper sold 2,157 shares of Boston Beer stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $154.16, for a total transaction of $332,523.12. Following the sale, the insider now directly owns 34,430 shares in the company, valued at approximately $5,307,728.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Martin F. Roper sold 5,000 shares of Boston Beer stock in a transaction on Friday, September 30th. The stock was sold at an average price of $154.94, for a total value of $774,700.00. Following the sale, the insider now owns 37,273 shares in the company, valued at $5,775,078.62. The disclosure for this sale can be found here. Insiders own 31.30% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. Tybourne Capital Management HK Ltd. boosted its stake in shares of Boston Beer by 37.4% in the first quarter. Tybourne Capital Management HK Ltd. now owns 759,411 shares of the company’s stock worth $140,544,000 after buying an additional 206,716 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Boston Beer by 1.7% in the second quarter. Vanguard Group Inc. now owns 676,685 shares of the company’s stock worth $115,734,000 after buying an additional 11,328 shares in the last quarter. BlackRock Fund Advisors boosted its stake in shares of Boston Beer by 0.3% in the second quarter. BlackRock Fund Advisors now owns 452,873 shares of the company’s stock worth $77,455,000 after buying an additional 1,534 shares in the last quarter. Fisher Asset Management LLC boosted its stake in shares of Boston Beer by 0.8% in the third quarter. Fisher Asset Management LLC now owns 348,515 shares of the company’s stock worth $54,110,000 after buying an additional 2,842 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Boston Beer by 5.7% in the second quarter. Bank of New York Mellon Corp now owns 332,033 shares of the company’s stock worth $56,788,000 after buying an additional 18,034 shares in the last quarter. 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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