Craft Brew Alliance, Inc. (NASDAQ:BREW) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Monday.

According to Zacks, “Craft Brew Alliance Inc. is engaged in the business of brewing, marketing and selling of craft beers in the United States. The Company operates in two segments: Beer Related operations and Pubs and Other. Craft Brew owns and operates production breweries with adjacent restaurants or pubs in Portland, Oregon, Woodinville, Washington and Portsmouth, New Hampshire and in Kona, Hawaii. It offers its beer products under the Widmer Brothers, Redhook and Kona Brewing brand names. Craft Brew Alliance Inc., formerly known as Craft Brewers Alliance, Inc., is headquartered in Portland, Oregon. “

Several other research analysts also recently issued reports on BREW. BidaskClub upgraded shares of Craft Brew Alliance from a “hold” rating to a “buy” rating in a research note on Wednesday, August 9th. Cowen and Company reiterated a “buy” rating and issued a $20.00 target price on shares of Craft Brew Alliance in a research note on Thursday. Susquehanna Bancshares Inc began coverage on shares of Craft Brew Alliance in a research note on Monday, October 2nd. They issued a “positive” rating and a $22.00 target price on the stock. Finally, ValuEngine upgraded shares of Craft Brew Alliance from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $21.00.

Craft Brew Alliance (BREW) traded up 1.67% during midday trading on Monday, reaching $18.30. 46,240 shares of the company’s stock traded hands. Craft Brew Alliance has a 52-week low of $12.00 and a 52-week high of $19.40. The firm has a market cap of $353.06 million, a PE ratio of 677.78 and a beta of 0.51. The firm’s 50-day moving average is $17.78 and its 200 day moving average is $16.80.

Craft Brew Alliance (NASDAQ:BREW) last issued its earnings results on Wednesday, August 2nd. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.02). The firm had revenue of $60.55 million during the quarter, compared to the consensus estimate of $58.54 million. Craft Brew Alliance had a return on equity of 0.80% and a net margin of 0.27%. The company’s quarterly revenue was down 2.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.12 EPS. Equities research analysts expect 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 business’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 completion of the transaction, the chief executive officer now directly owns 7,834 shares of the company’s stock, valued at $142,108.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.70% of the stock is owned by insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. American International Group Inc. raised its holdings in shares of Craft Brew Alliance by 7.0% during the first quarter. American International Group Inc. now owns 7,778 shares of the company’s stock valued at $104,000 after purchasing an additional 510 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Craft Brew Alliance by 15.3% during the second quarter. The Manufacturers Life Insurance Company now owns 12,325 shares of the company’s stock valued at $207,000 after purchasing an additional 1,638 shares during the last quarter. Perkins Capital Management Inc. raised its holdings in shares of Craft Brew Alliance by 0.8% during the second quarter. Perkins Capital Management Inc. now owns 12,550 shares of the company’s stock valued at $211,000 after purchasing an additional 100 shares during the last quarter. Parametric Portfolio Associates LLC raised its holdings in shares of Craft Brew Alliance by 2.9% during the first quarter. Parametric Portfolio Associates LLC now owns 16,906 shares of the company’s stock valued at $226,000 after purchasing an additional 476 shares during the last quarter. Finally, Goldman Sachs Group Inc. purchased a new position in shares of Craft Brew Alliance during the first quarter valued at approximately $297,000. 32.33% of the stock is owned by hedge funds and other institutional investors.

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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