Boston Beer (NYSE:SAM) Price Target Raised to $325.00 at Evercore ISI

Boston Beer (NYSE:SAM) had its target price boosted by Evercore ISI from $310.00 to $325.00 in a research note released on Friday morning, Benzinga reports. The brokerage currently has an in-line rating on the stock.

SAM has been the topic of a number of other research reports. Sanford C. Bernstein upgraded shares of Boston Beer from an underperform rating to a market perform rating and raised their target price for the stock from $280.00 to $335.00 in a research note on Tuesday, January 16th. Morgan Stanley lowered their target price on shares of Boston Beer from $285.00 to $275.00 and set an underweight rating on the stock in a research note on Wednesday, February 28th. Roth Mkm increased their price target on Boston Beer from $406.00 to $422.00 and gave the stock a buy rating in a research note on Tuesday, January 23rd. Citigroup lowered their price objective on Boston Beer from $350.00 to $315.00 and set a neutral rating on the stock in a research report on Tuesday, April 16th. Finally, UBS Group cut their target price on Boston Beer from $390.00 to $355.00 and set a neutral rating for the company in a research report on Wednesday, February 28th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Boston Beer currently has an average rating of Hold and an average target price of $335.21.

Boston Beer Trading Up 0.8 %

Shares of SAM stock opened at $285.57 on Friday. Boston Beer has a 12 month low of $274.78 and a 12 month high of $395.52. The stock has a market cap of $3.43 billion, a P/E ratio of 35.83, a P/E/G ratio of 1.16 and a beta of 1.02. The company has a 50 day simple moving average of $302.38 and a two-hundred day simple moving average of $332.89.

Boston Beer (NYSE:SAM) last posted its quarterly earnings data on Thursday, April 25th. The company reported $1.04 EPS for the quarter, topping the consensus estimate of $0.08 by $0.96. The firm had revenue of $426.05 million during the quarter, compared to analyst estimates of $414.18 million. Boston Beer had a return on equity of 10.11% and a net margin of 4.60%. As a group, equities analysts forecast that Boston Beer will post 9.91 earnings per share for the current year.

Insider Activity

In related news, insider Carolyn L. O’boyle sold 102 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $350.72, for a total value of $35,773.44. Following the sale, the insider now owns 2,630 shares in the company, valued at $922,393.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Carolyn L. O’boyle sold 102 shares of Boston Beer stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $350.72, for a total value of $35,773.44. Following the completion of the transaction, the insider now owns 2,630 shares in the company, valued at $922,393.60. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Carolyn L. O’boyle sold 101 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $303.49, for a total value of $30,652.49. Following the sale, the insider now directly owns 7,029 shares in the company, valued at $2,133,231.21. The disclosure for this sale can be found here. Corporate insiders own 24.00% of the company’s stock.

Institutional Trading of Boston Beer

Institutional investors have recently bought and sold shares of the stock. Armistice Capital LLC purchased a new stake in shares of Boston Beer in the fourth quarter valued at $21,499,000. AQR Capital Management LLC boosted its position in shares of Boston Beer by 65.9% during the third quarter. AQR Capital Management LLC now owns 115,411 shares of the company’s stock valued at $44,433,000 after buying an additional 45,864 shares during the period. Norges Bank purchased a new position in shares of Boston Beer during the fourth quarter valued at approximately $13,879,000. Assenagon Asset Management S.A. grew its stake in shares of Boston Beer by 1,337.9% during the third quarter. Assenagon Asset Management S.A. now owns 32,727 shares of the company’s stock valued at $12,748,000 after buying an additional 30,451 shares during the last quarter. Finally, Los Angeles Capital Management LLC purchased a new stake in shares of Boston Beer in the third quarter worth approximately $10,275,000. 81.13% of the stock is currently owned by institutional investors.

About Boston Beer

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.