The Boston Beer Company, Inc. (NYSE:SAM) Receives $286.12 Average Target Price from Analysts

Shares of The Boston Beer Company, Inc. (NYSE:SAM) have been given an average recommendation of “Hold” by the ten analysts that are presently covering the stock, MarketBeat reports. Eight equities research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $286.12.

Several research analysts have commented on SAM shares. Piper Sandler dropped their price target on Boston Beer from $240.00 to $230.00 and set a “neutral” rating on the stock in a research report on Thursday, April 17th. Roth Mkm reaffirmed a “buy” rating and issued a $349.00 target price (down previously from $389.00) on shares of Boston Beer in a report on Wednesday, February 26th. Berenberg Bank assumed coverage on Boston Beer in a research note on Wednesday, April 2nd. They issued a “hold” rating and a $281.10 target price for the company. UBS Group raised their price target on Boston Beer from $265.00 to $279.00 and gave the company a “neutral” rating in a report on Thursday, April 17th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $279.00 price objective on shares of Boston Beer in a report on Tuesday, April 22nd.

Boston Beer Trading Down 0.9 %

NYSE:SAM opened at $242.73 on Thursday. The firm has a market cap of $2.71 billion, a price-to-earnings ratio of 35.70, a price-to-earnings-growth ratio of 1.23 and a beta of 1.14. Boston Beer has a twelve month low of $215.10 and a twelve month high of $339.77. The company has a 50-day moving average of $238.11 and a 200-day moving average of $265.75.

Boston Beer (NYSE:SAM) last released its earnings results on Thursday, April 24th. The company reported $2.16 earnings per share for the quarter, beating the consensus estimate of $0.78 by $1.38. Boston Beer had a return on equity of 11.76% and a net margin of 3.82%. The company had revenue of $481.36 million for the quarter, compared to analysts’ expectations of $436.27 million. During the same quarter in the previous year, the business posted $1.04 EPS. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. On average, research analysts forecast that Boston Beer will post 9.29 earnings per share for the current year.

Institutional Investors Weigh In On Boston Beer

A number of hedge funds and other institutional investors have recently bought and sold shares of SAM. Norges Bank bought a new position in shares of Boston Beer during the 4th quarter worth approximately $30,741,000. J. Goldman & Co LP increased its stake in Boston Beer by 251.8% in the 4th quarter. J. Goldman & Co LP now owns 119,687 shares of the company’s stock valued at $35,904,000 after buying an additional 85,669 shares during the last quarter. Cooper Creek Partners Management LLC bought a new stake in Boston Beer during the 4th quarter worth about $25,054,000. Global Alpha Capital Management Ltd. acquired a new position in shares of Boston Beer during the 4th quarter worth about $23,349,000. Finally, Freestone Grove Partners LP bought a new position in shares of Boston Beer in the 4th quarter valued at about $21,412,000. Institutional investors and hedge funds own 81.13% of the company’s stock.

Boston Beer Company Profile

The Boston Beer Company, Inc produces and sells alcohol beverages primarily in the United States. The company's flagship beer is Samuel Adams Boston Lager. It offers various beers, hard ciders, flavored malt beverages, and hard seltzers under the Samuel Adams, Twisted Tea, Truly, Angry Orchard, Dogfish Head, Angel City, and Coney Island brand names.