Craft Brew Alliance, Inc. (NASDAQ:BREW) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Monday. The brokerage currently has a $22.00 price target on the stock. Zacks Investment Research‘s target price would suggest a potential upside of 11.68% from the company’s previous close.

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. “

A number of other research firms have also commented on BREW. Cowen and Company restated a “buy” rating and set a $20.00 price target on shares of Craft Brew Alliance in a research report on Thursday, October 19th. BidaskClub upgraded Craft Brew Alliance from a “hold” rating to a “buy” rating in a research report on Wednesday, August 9th. ValuEngine lowered Craft Brew Alliance from a “hold” rating to a “sell” rating in a research report on Saturday, August 26th. Finally, Susquehanna Bancshares Inc began coverage on Craft Brew Alliance in a research report on Monday, October 2nd. They set a “positive” rating and a $22.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $21.33.

Craft Brew Alliance (BREW) traded up $0.55 during midday trading on Monday, reaching $19.70. The company had a trading volume of 185,500 shares, compared to its average volume of 114,868. The company has a market cap of $380.14, a price-to-earnings ratio of 179.09 and a beta of 0.48. Craft Brew Alliance has a 1-year low of $12.00 and a 1-year high of $20.00. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.18 and a current ratio of 1.56.

Craft Brew Alliance (NASDAQ:BREW) last released its quarterly earnings results on Wednesday, November 8th. The company reported $0.09 EPS for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.03. The business had revenue of $60.04 million for the quarter, compared to analyst estimates of $57.13 million. Craft Brew Alliance had a return on equity of 1.79% and a net margin of 0.85%. Craft Brew Alliance’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.03 EPS. research analysts anticipate that Craft Brew Alliance will post 0.11 earnings per share for the current year.

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Large investors have recently bought and sold shares of the business. American International Group Inc. lifted its holdings in 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 buying an additional 510 shares in the last quarter. Acadian Asset Management LLC acquired a new position in Craft Brew Alliance during the 3rd quarter worth $115,000. PEAK6 Investments L.P. acquired a new position in Craft Brew Alliance during the 2nd quarter worth $121,000. Spot Trading L.L.C acquired a new position in Craft Brew Alliance during the 2nd quarter worth $160,000. Finally, Parallel Advisors LLC acquired a new position in Craft Brew Alliance during the 4th quarter worth $166,000. 31.43% of the stock is currently owned by hedge funds and other institutional investors.

About Craft Brew Alliance

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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