Craft Brew Alliance (NASDAQ:BREW) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Wednesday. The brokerage currently has a $22.00 price objective on the stock. Zacks Investment Research‘s price objective points to a potential upside of 11.11% from the stock’s current price.

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. “

BREW has been the topic of several other research reports. Susquehanna Bancshares started coverage on Craft Brew Alliance in a research note on Monday, October 2nd. They set a “positive” rating and a $22.00 price target on the stock. Stifel Nicolaus started coverage on Craft Brew Alliance in a research note on Tuesday, December 5th. They issued a “hold” rating and a $19.00 target price on the stock. Finally, Cowen reaffirmed a “buy” rating and issued a $20.00 target price on shares of Craft Brew Alliance in a research note on Thursday, October 19th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $20.75.

Shares of Craft Brew Alliance (NASDAQ BREW) traded up $0.35 during trading hours on Wednesday, hitting $19.80. The stock had a trading volume of 45,688 shares, compared to its average volume of 47,717. The stock has a market cap of $372.42, a price-to-earnings ratio of 220.00 and a beta of 0.47. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.56 and a quick ratio of 1.18. Craft Brew Alliance has a fifty-two week low of $12.00 and a fifty-two week high of $20.10.

Craft Brew Alliance (NASDAQ:BREW) last announced its quarterly earnings results on Wednesday, November 8th. The company reported $0.09 EPS for the quarter, topping the Thomson Reuters’ 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%. The company’s quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.03 EPS. sell-side analysts expect that Craft Brew Alliance will post 0.12 EPS for the current year.

A number of hedge funds have recently bought and sold shares of the stock. TIAA CREF Investment Management LLC lifted its stake in Craft Brew Alliance by 3.4% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 32,878 shares of the company’s stock valued at $554,000 after buying an additional 1,081 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Craft Brew Alliance by 15.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 12,325 shares of the company’s stock worth $207,000 after buying an additional 1,638 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Craft Brew Alliance by 17.7% during the 2nd quarter. Goldman Sachs Group Inc. now owns 26,193 shares of the company’s stock worth $441,000 after buying an additional 3,937 shares during the last quarter. Wells Fargo & Company MN increased its holdings in shares of Craft Brew Alliance by 14.2% during the 3rd quarter. Wells Fargo & Company MN now owns 54,435 shares of the company’s stock worth $955,000 after buying an additional 6,783 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Craft Brew Alliance by 10.0% during the 2nd quarter. Northern Trust Corp now owns 155,557 shares of the company’s stock worth $2,621,000 after buying an additional 14,110 shares during the last quarter. 34.19% of the stock is currently owned by hedge funds and other institutional investors.

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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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