Craft Brew Alliance (BREW) Given New $22.00 Price Target at Citigroup

Craft Brew Alliance (NASDAQ:BREW) had its target price upped by Citigroup from $21.00 to $22.00 in a report released on Tuesday. The firm presently has a “neutral” rating on the stock. Citigroup’s price target suggests a potential upside of 17.65% from the stock’s current price.

Other analysts have also issued reports about the company. Cowen reiterated a “buy” rating and set a $20.00 price objective on shares of Craft Brew Alliance in a report on Thursday, October 19th. Zacks Investment Research upgraded Craft Brew Alliance from a “hold” rating to a “buy” rating and set a $21.00 price objective for the company in a report on Tuesday, October 17th. Susquehanna Bancshares set a $22.00 target price on Craft Brew Alliance and gave the company a “buy” rating in a report on Monday, December 11th. Stifel Nicolaus initiated coverage on Craft Brew Alliance in a report on Tuesday, December 5th. They set a “hold” rating and a $19.00 target price on the stock. Finally, BMO Capital Markets initiated coverage on Craft Brew Alliance in a report on Monday. They set a “market perform” rating and a $19.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $20.67.

Shares of Craft Brew Alliance (NASDAQ BREW) opened at $18.70 on Tuesday. The company has a current ratio of 1.56, a quick ratio of 1.18 and a debt-to-equity ratio of 0.19. Craft Brew Alliance has a 1-year low of $12.00 and a 1-year high of $20.10. The stock has a market capitalization of $357.03, a price-to-earnings ratio of 207.78 and a beta of 0.44.

Craft Brew Alliance (NASDAQ:BREW) last announced its quarterly earnings data on Wednesday, November 8th. The company reported $0.09 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.03. Craft Brew Alliance had a return on equity of 1.79% and a net margin of 0.85%. The business had revenue of $60.04 million during the quarter, compared to analyst estimates of $57.13 million. During the same period last year, the company earned $0.03 earnings per share. Craft Brew Alliance’s quarterly revenue was up 2.4% compared to the same quarter last year. analysts predict that Craft Brew Alliance will post 0.12 EPS for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP raised its holdings in Craft Brew Alliance by 1.7% during the third quarter. Dimensional Fund Advisors LP now owns 1,275,791 shares of the company’s stock valued at $22,390,000 after buying an additional 20,958 shares in the last quarter. Vanguard Group Inc. raised its holdings in Craft Brew Alliance by 4.6% during the second quarter. Vanguard Group Inc. now owns 385,787 shares of the company’s stock valued at $6,500,000 after buying an additional 16,970 shares in the last quarter. State Street Corp raised its holdings in Craft Brew Alliance by 10.1% during the second quarter. State Street Corp now owns 208,916 shares of the company’s stock valued at $3,521,000 after buying an additional 19,235 shares in the last quarter. Northern Trust Corp raised its holdings in Craft Brew Alliance by 10.0% during the second quarter. Northern Trust Corp now owns 155,557 shares of the company’s stock valued at $2,621,000 after buying an additional 14,110 shares in the last quarter. Finally, Wedge Capital Management L L P NC bought a new position in Craft Brew Alliance during the fourth quarter valued at about $1,538,000. Institutional investors own 34.32% of the company’s stock.

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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.

Analyst Recommendations for Craft Brew Alliance (NASDAQ:BREW)

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