Boston Beer (NYSE:SAM) Shares Climb 8.9% – Should You Buy?

The Boston Beer Company, Inc. (NYSE:SAM) shares shot up 8.9% during mid-day trading on Monday. The stock traded as high as $219.05 and last traded at $219.1480. Approximately 199,279 shares changed hands during mid-day trading, a decline of 16% from the average session volume of 237,430 shares. The stock had previously closed at $201.31.

Wall Street Analysts Forecast Growth

SAM has been the subject of several research reports. Jefferies Financial Group reissued a “hold” rating and issued a $200.00 target price on shares of Boston Beer in a research note on Friday, October 23rd. Citigroup upped their price objective on shares of Boston Beer from $185.00 to $197.00 and gave the company a “neutral” rating in a research report on Monday, October 26th. Royal Bank Of Canada dropped their price objective on shares of Boston Beer from $210.00 to $190.00 and set a “sector perform” rating on the stock in a report on Tuesday, October 6th. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $195.00 target price on shares of Boston Beer in a research note on Monday, July 27th. Finally, Wall Street Zen raised Boston Beer from a “sell” rating to a “hold” rating in a research note on Saturday, July 25th. One analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average target price of $208.82.

Boston Beer Stock Up 10.0%

The stock has a market capitalization of $2.25 billion, a P/E ratio of -32.43 and a beta of 0.81. The stock has a 50 day simple moving average of $177.02 and a two-hundred day simple moving average of $199.02.

Boston Beer (NYSE:SAM) last posted its quarterly earnings results on Thursday, October 22nd. The company reported $4.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.21 by $0.16. Boston Beer had a negative net margin of 3.59% and a positive return on equity of 10.40%. The firm had revenue of $520.10 million for the quarter, compared to analyst estimates of $522.95 million. During the same period in the prior year, the firm posted $4.25 earnings per share. The company’s quarterly revenue was down 3.2% compared to the same quarter last year. Sell-side analysts predict that The Boston Beer Company, Inc. will post 9.28 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Commonwealth Equity Services LLC bought a new stake in shares of Boston Beer in the third quarter valued at about $862,000. Chicago Partners Investment Group LLC acquired a new position in shares of Boston Beer during the 3rd quarter worth $396,000. Oregon Public Employees Retirement Fund lifted its holdings in shares of Boston Beer by 7.8% in the third quarter. Oregon Public Employees Retirement Fund now owns 1,700 shares of the company’s stock worth $279,000 after acquiring an additional 123 shares during the last quarter. Pinnacle Wealth Planning Services Inc. lifted its stake in Boston Beer by 22,300.0% in the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 224 shares of the company’s stock valued at $37,000 after purchasing an additional 223 shares during the last quarter. Finally, Sigma Planning Corp acquired a new stake in shares of Boston Beer during the 3rd quarter valued at $160,000. 81.13% of the stock is owned by institutional investors.

Boston Beer Company Profile

Boston Beer Company, Inc is an American beverage company that develops, produces, and sells alcoholic beverages. The company is best known for its Samuel Adams craft beer brand, which includes Boston Lager and a range of seasonal, specialty, and limited-release beers.

Its portfolio also includes Twisted Tea hard iced tea, Truly Hard Seltzer, Angry Orchard hard cider, and beverages associated with Dogfish Head, which Boston Beer acquired in 2019. The company offers products across several categories, including beer, flavored malt beverages, hard seltzer, and hard cider, with offerings distributed primarily through wholesalers, retailers, restaurants, and other on-premise establishments.

Founded in 1984 by Jim Koch, Boston Beer helped expand the U.S.