Boston Beer (NYSE:SAM) Rating Increased to Moderate Buy at Cfra Research

Boston Beer (NYSE:SAM) was upgraded by analysts at Cfra Research from a “moderate sell” rating to a “moderate buy” rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

SAM has been the topic of several other reports. Citigroup raised their target price on shares of Boston Beer from $280.00 to $285.00 and gave the company a “buy” rating in a report on Monday, April 14th. Berenberg Bank initiated coverage on Boston Beer in a report on Wednesday, April 2nd. They issued a “hold” rating and a $281.10 target price on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Boston Beer in a research note on Friday. UBS Group boosted their target price on Boston Beer from $265.00 to $279.00 and gave the stock a “neutral” rating in a research note on Thursday, April 17th. Finally, Roth Mkm restated a “buy” rating and issued a $349.00 price target (down from $389.00) on shares of Boston Beer in a research note on Wednesday, February 26th. Nine analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $290.01.

Boston Beer Stock Up 2.9 %

NYSE SAM opened at $249.45 on Thursday. The firm has a 50-day moving average price of $236.77 and a two-hundred day moving average price of $268.87. Boston Beer has a 12-month low of $215.10 and a 12-month high of $339.77. The company has a market capitalization of $2.80 billion, a P/E ratio of 36.68, a P/E/G ratio of 1.23 and a beta of 1.26.

Boston Beer (NYSE:SAM) last issued its quarterly earnings results on Thursday, April 24th. The company reported $2.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $1.38. The business had revenue of $481.36 million for the quarter, compared to the consensus estimate of $436.27 million. Boston Beer had a return on equity of 11.76% and a net margin of 3.82%. Equities analysts expect that Boston Beer will post 9.29 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Entropy Technologies LP acquired a new position in shares of Boston Beer in the fourth quarter worth approximately $368,000. Legato Capital Management LLC acquired a new stake in shares of Boston Beer during the fourth quarter worth $1,966,000. Merit Financial Group LLC bought a new position in Boston Beer during the fourth quarter worth $434,000. Charles Schwab Investment Management Inc. lifted its holdings in Boston Beer by 5.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 94,356 shares of the company’s stock valued at $28,305,000 after buying an additional 4,675 shares during the period. Finally, Norges Bank bought a new stake in Boston Beer during the fourth quarter valued at $30,741,000. 81.13% of the stock is owned by institutional investors.

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.