Boston Beer (NYSE:SAM) PT Raised to $325.00

Boston Beer (NYSE:SAM) had its price target boosted by equities researchers at Evercore ISI from $310.00 to $325.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has an “in-line” rating on the stock. Evercore ISI’s price objective would indicate a potential upside of 14.20% from the company’s previous close.

Several other equities research analysts have also commented on SAM. The Goldman Sachs Group decreased their price objective on shares of Boston Beer from $257.00 to $250.00 and set a “sell” rating for the company in a research note on Tuesday, April 9th. Roth Mkm increased their price objective on shares of Boston Beer from $406.00 to $422.00 and gave the company a “buy” rating in a research note on Tuesday, January 23rd. UBS Group decreased their price objective on shares of Boston Beer from $390.00 to $355.00 and set a “neutral” rating for the company in a research note on Wednesday, February 28th. Morgan Stanley decreased their price objective on shares of Boston Beer from $285.00 to $275.00 and set an “underweight” rating for the company in a research note on Wednesday, February 28th. Finally, Sanford C. Bernstein upgraded shares of Boston Beer from an “underperform” rating to a “market perform” rating and raised their price target for the stock from $280.00 to $335.00 in a research note on Tuesday, January 16th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $335.21.

Boston Beer Trading Down 0.9 %

NYSE SAM traded down $2.67 during trading hours on Friday, hitting $284.60. The company’s stock had a trading volume of 189,096 shares, compared to its average volume of 141,478. Boston Beer has a 52 week low of $274.78 and a 52 week high of $395.52. The company has a market capitalization of $3.42 billion, a PE ratio of 46.07, a price-to-earnings-growth ratio of 1.20 and a beta of 1.02. The company’s 50-day simple moving average is $306.46 and its two-hundred day simple moving average is $334.48.

Boston Beer (NYSE:SAM) last announced its quarterly earnings results on Thursday, April 25th. The company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.96. Boston Beer had a net margin of 3.61% and a return on equity of 8.13%. The business had revenue of $426.05 million for the quarter, compared to analysts’ expectations of $414.18 million. Research analysts anticipate that Boston Beer will post 9.9 EPS for the current fiscal year.

Insider Buying and Selling

In other Boston Beer news, insider Carolyn L. O’boyle sold 101 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $303.49, for a total value of $30,652.49. Following the completion of the transaction, the insider now directly owns 7,029 shares of the company’s stock, valued at approximately $2,133,231.21. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Boston Beer news, insider Carolyn L. O’boyle sold 101 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $303.49, for a total value of $30,652.49. Following the completion of the transaction, the insider now directly owns 7,029 shares of the company’s stock, valued at approximately $2,133,231.21. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Carolyn L. O’boyle sold 102 shares of the firm’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $350.72, for a total transaction of $35,773.44. Following the completion of the transaction, the insider now directly owns 2,630 shares of the company’s stock, valued at $922,393.60. The disclosure for this sale can be found here. 23.30% of the stock is owned by insiders.

Institutional Trading of Boston Beer

Hedge funds have recently made changes to their positions in the stock. Covestor Ltd raised its position in Boston Beer by 88.4% in the 3rd quarter. Covestor Ltd now owns 81 shares of the company’s stock worth $32,000 after purchasing an additional 38 shares during the period. Quarry LP purchased a new position in Boston Beer in the 4th quarter worth $42,000. First Command Advisory Services Inc. purchased a new position in Boston Beer in the 3rd quarter worth $56,000. DekaBank Deutsche Girozentrale purchased a new position in Boston Beer in the 3rd quarter worth $59,000. Finally, CWM LLC raised its position in Boston Beer by 264.2% in the 3rd quarter. CWM LLC now owns 193 shares of the company’s stock worth $75,000 after purchasing an additional 140 shares during the period. 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.