Craft Brew Alliance, Inc. (NASDAQ:BREW)‘s stock had its “buy” rating reissued by equities research analysts at Cowen and Company in a research note issued on Thursday. They currently have a $20.00 price target on the stock. Cowen and Company’s price target indicates a potential upside of 8.99% from the company’s previous close.

Several other research analysts have also recently commented on the stock. Zacks Investment Research raised shares of Craft Brew Alliance from a “hold” rating to a “buy” rating and set a $21.00 target price on the stock in a report on Tuesday. Susquehanna Bancshares Inc assumed coverage on shares of Craft Brew Alliance in a report on Monday, October 2nd. They set a “positive” rating and a $22.00 target price on the stock. ValuEngine raised shares of Craft Brew Alliance from a “sell” rating to a “hold” rating in a report on Friday, September 1st. Finally, BidaskClub raised shares of Craft Brew Alliance from a “hold” rating to a “buy” rating in a report on Wednesday, August 9th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $21.00.

Craft Brew Alliance (NASDAQ:BREW) traded down 1.61% during midday trading on Thursday, reaching $18.35. The company’s stock had a trading volume of 33,842 shares. Craft Brew Alliance has a 52 week low of $12.00 and a 52 week high of $19.40. The firm has a 50 day moving average price of $17.75 and a 200-day moving average price of $16.75. The firm has a market cap of $354.03 million, a P/E ratio of 679.63 and a beta of 0.51.

Craft Brew Alliance (NASDAQ:BREW) last released its quarterly earnings results on Wednesday, August 2nd. The company reported $0.09 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.11 by ($0.02). The company had revenue of $60.55 million during the quarter, compared to the consensus estimate of $58.54 million. Craft Brew Alliance had a net margin of 0.27% and a return on equity of 0.80%. The firm’s revenue was down 2.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.12 earnings per share. On average, analysts forecast that Craft Brew Alliance will post $0.11 earnings per share for the current fiscal year.

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In other news, CEO Andrew J. Thomas sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $18.14, for a total transaction of $72,560.00. Following the transaction, the chief executive officer now directly owns 7,834 shares of the company’s stock, valued at $142,108.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.70% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of BREW. Wells Fargo & Company MN boosted its position in shares of Craft Brew Alliance by 40.8% during the 1st quarter. Wells Fargo & Company MN now owns 73,304 shares of the company’s stock worth $979,000 after acquiring an additional 21,231 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Craft Brew Alliance by 4.1% during the 1st quarter. Bank of New York Mellon Corp now owns 48,628 shares of the company’s stock worth $649,000 after acquiring an additional 1,897 shares in the last quarter. Parametric Portfolio Associates LLC boosted its position in shares of Craft Brew Alliance by 2.9% during the 1st quarter. Parametric Portfolio Associates LLC now owns 16,906 shares of the company’s stock worth $226,000 after acquiring an additional 476 shares in the last quarter. American International Group Inc. boosted its position in shares of Craft Brew Alliance by 7.0% during the 1st quarter. American International Group Inc. now owns 7,778 shares of the company’s stock worth $104,000 after acquiring an additional 510 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Craft Brew Alliance by 4.3% during the 1st quarter. Geode Capital Management LLC now owns 82,765 shares of the company’s stock worth $1,104,000 after acquiring an additional 3,404 shares in the last quarter. Institutional investors and hedge funds own 32.33% of the company’s stock.

Craft Brew Alliance Company Profile

Craft Brew Alliance, Inc is a craft brewing company that is engaged in brewing, branding and bringing to market American craft beers. The Company operates through two segments: Beer Related operations, which include the brewing operations and related domestic and international beer and cider sales of its Kona, Widmer Brothers, Redhook and Omission beer brands, and Square Mile cider brand, and Pubs operations, which include its approximately five pubs, over four of which are located adjacent to its Beer Related operations, as well as other merchandise sales, and sales of its beers directly to customers.

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