Susquehanna Reiterates “Hold” Rating for Boston Beer Co. (SAM)
Boston Beer Co. (NYSE:SAM)‘s stock had its “hold” rating reiterated by investment analysts at Susquehanna in a report released on Tuesday. They currently have a $160.00 target price on the stock. Susquehanna’s price objective would suggest a potential upside of 1.20% from the stock’s current price.
Several other equities research analysts also recently commented on the stock. Jefferies Group reiterated a “hold” rating and set a $151.00 target price (up from $145.00) on shares of Boston Beer in a research report on Monday, July 25th. Zacks Investment Research downgraded shares of Boston Beer from a “hold” rating to a “sell” rating in a research report on Monday, July 25th. Cowen and Company downgraded shares of Boston Beer from a “market perform” rating to an “underperform” rating and cut their target price for the stock from $170.00 to $128.00 in a research report on Wednesday, September 21st. Credit Suisse Group AG started coverage on shares of Boston Beer in a research report on Thursday, September 15th. They set an “underperform” rating and a $156.00 target price on the stock. Finally, William Blair started coverage on shares of Boston Beer in a research report on Wednesday, September 21st. They set an “outperform” rating on the stock. Five equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company. Boston Beer currently has a consensus rating of “Hold” and an average price target of $174.09.
Shares of Boston Beer (NYSE:SAM) traded up 1.93% during midday trading on Tuesday, hitting $158.10. 220,854 shares of the stock traded hands. The firm has a 50-day moving average price of $163.83 and a 200-day moving average price of $167.27. The stock has a market capitalization of $1.95 billion, a P/E ratio of 23.67 and a beta of 0.64. Boston Beer has a 52 week low of $145.33 and a 52 week high of $260.51.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/18/susquehanna-reiterates-hold-rating-for-boston-beer-co-sam.html
Boston Beer (NYSE:SAM) last announced 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. The company had revenue of $244.80 million for the quarter, compared to analyst estimates of $238.87 million. Boston Beer had a net margin of 9.22% and a return on equity of 19.60%. On average, equities analysts predict that Boston Beer will post $6.46 earnings per share for the current fiscal year.
In related news, major shareholder Tybourne Capital Management Hk sold 600 shares of the business’s 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 transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Martin F. Roper sold 7,000 shares of the business’s 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 disclosure for this sale can be found here. Corporate insiders own 31.30% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in SAM. BlackRock Advisors LLC raised its stake in shares of Boston Beer by 0.4% in the second quarter. BlackRock Advisors LLC now owns 4,332 shares of the company’s stock worth $741,000 after buying an additional 17 shares during the period. Legal & General Group Plc raised its stake in shares of Boston Beer by 1.2% in the second quarter. Legal & General Group Plc now owns 2,230 shares of the company’s stock worth $373,000 after buying an additional 26 shares during the period. Cim LLC raised its stake in shares of Boston Beer by 1.6% in the second quarter. Cim LLC now owns 1,868 shares of the company’s stock worth $319,000 after buying an additional 30 shares during the period. Comerica Bank raised its stake in shares of Boston Beer by 0.9% in the second quarter. Comerica Bank now owns 4,981 shares of the company’s stock worth $897,000 after buying an additional 43 shares during the period. Finally, Invictus RG raised its stake in shares of Boston Beer by 3.6% in the first quarter. Invictus RG now owns 1,392 shares of the company’s stock worth $258,000 after buying an additional 49 shares during the period. Institutional investors own 65.04% 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.
Receive News & Ratings for Boston Beer Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Boston Beer Co. and related companies with MarketBeat.com's FREE daily email newsletter.