Boston Beer (NYSE:SAM) Upgraded to “Buy” at Wall Street Zen

Wall Street Zen upgraded shares of Boston Beer (NYSE:SAMFree Report) from a hold rating to a buy rating in a report released on Saturday morning.

SAM has been the topic of several other reports. Morgan Stanley reduced their target price on Boston Beer from $290.00 to $270.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 26th. Piper Sandler reduced their price objective on Boston Beer from $240.00 to $230.00 and set a “neutral” rating on the stock in a research note on Thursday, April 17th. Berenberg Bank started 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. Roth Mkm reiterated a “buy” rating and set a $349.00 price target (down previously from $389.00) on shares of Boston Beer in a research report on Wednesday, February 26th. Finally, Cfra Research upgraded shares of Boston Beer from a “moderate sell” rating to a “moderate buy” rating in a research report on Thursday, April 24th. Eight analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $286.12.

Get Our Latest Stock Analysis on SAM

Boston Beer Price Performance

Boston Beer stock opened at $208.52 on Friday. The business has a 50 day simple moving average of $236.07 and a 200 day simple moving average of $252.35. The company has a market capitalization of $2.32 billion, a PE ratio of 30.66, a price-to-earnings-growth ratio of 1.23 and a beta of 1.05. Boston Beer has a one year low of $207.00 and a one year high of $329.55.

Boston Beer (NYSE:SAMGet Free Report) last issued its quarterly earnings data on Thursday, April 24th. The company reported $2.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $436.27 million. During the same period last year, the business earned $1.04 earnings per share. The business’s revenue was up 6.5% on a year-over-year basis. Equities analysts anticipate that Boston Beer will post 9.29 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Boston Beer

A number of institutional investors and hedge funds have recently modified their holdings of SAM. Intech Investment Management LLC grew its holdings in Boston Beer by 300.6% during the 1st quarter. Intech Investment Management LLC now owns 8,097 shares of the company’s stock worth $1,934,000 after acquiring an additional 6,076 shares during the period. Plato Investment Management Ltd bought a new position in shares of Boston Beer in the 1st quarter worth $104,000. Bayforest Capital Ltd grew its stake in shares of Boston Beer by 576.3% during the first quarter. Bayforest Capital Ltd now owns 1,826 shares of the company’s stock worth $436,000 after purchasing an additional 1,556 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Boston Beer by 5.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 21,902 shares of the company’s stock valued at $5,231,000 after purchasing an additional 1,067 shares during the last quarter. Finally, Empowered Funds LLC lifted its stake in Boston Beer by 8.8% in the first quarter. Empowered Funds LLC now owns 1,207 shares of the company’s stock valued at $288,000 after buying an additional 98 shares during the period. 81.13% of the stock is owned by institutional investors.

Boston Beer Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Boston Beer (NYSE:SAM)

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