Zacks Investment Research lowered shares of Craft Brew Alliance (NASDAQ:BREW) from a buy rating to a hold rating in a report issued on Friday morning.
According to Zacks, “Craft Brew Alliance Inc. is engaged in the business of brewing, marketing and selling of craft beers in the United States. The Company operates in two segments: Beer Related operations and Pubs and Other. Craft Brew owns and operates production breweries with adjacent restaurants or pubs in Portland, Oregon, Woodinville, Washington and Portsmouth, New Hampshire and in Kona, Hawaii. It offers its beer products under the Widmer Brothers, Redhook and Kona Brewing brand names. Craft Brew Alliance Inc., formerly known as Craft Brewers Alliance, Inc., is headquartered in Portland, Oregon. “
A number of other equities analysts have also commented on the company. BidaskClub raised Craft Brew Alliance from a sell rating to a hold rating in a report on Wednesday, March 7th. Citigroup raised their price target on Craft Brew Alliance from $21.00 to $22.00 and gave the stock a neutral rating in a report on Tuesday, February 6th. BMO Capital Markets began coverage on Craft Brew Alliance in a report on Monday, February 5th. They issued a market perform rating and a $19.00 price target for the company. Susquehanna Bancshares set a $22.00 price target on Craft Brew Alliance and gave the stock a buy rating in a report on Monday, December 11th. Finally, Stifel Nicolaus began coverage on Craft Brew Alliance in a report on Tuesday, December 5th. They issued a hold rating and a $19.00 price target for the company. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company currently has an average rating of Hold and a consensus price target of $20.67.
Craft Brew Alliance (NASDAQ:BREW) last posted its quarterly earnings results on Wednesday, March 7th. The company reported $0.05 EPS for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.01. Craft Brew Alliance had a return on equity of 2.13% and a net margin of 4.59%. The firm had revenue of $45.97 million during the quarter, compared to analyst estimates of $45.93 million. During the same period last year, the company earned $0.02 earnings per share. The business’s revenue for the quarter was up .4% on a year-over-year basis. research analysts anticipate that Craft Brew Alliance will post 0.29 EPS for the current fiscal year.
A number of large investors have recently bought and sold shares of BREW. MetLife Investment Advisors LLC bought a new stake in Craft Brew Alliance during the fourth quarter valued at $126,000. Stone Ridge Asset Management LLC bought a new stake in Craft Brew Alliance during the fourth quarter valued at $192,000. The Manufacturers Life Insurance Company boosted its stake in Craft Brew Alliance by 15.3% during the second quarter. The Manufacturers Life Insurance Company now owns 12,325 shares of the company’s stock valued at $207,000 after buying an additional 1,638 shares during the period. Cornerstone Capital Management Holdings LLC. bought a new stake in Craft Brew Alliance during the third quarter valued at $248,000. Finally, Perkins Capital Management Inc. boosted its stake in Craft Brew Alliance by 41.4% during the fourth quarter. Perkins Capital Management Inc. now owns 17,750 shares of the company’s stock valued at $341,000 after buying an additional 5,200 shares during the period. 34.74% of the stock is owned by institutional investors.
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Craft Brew Alliance Company Profile
Craft Brew Alliance, Inc is a craft brewing company that is engaged in brewing, branding and bringing to market American craft beers. The Company operates through two segments: Beer Related operations, which include the brewing operations and related domestic and international beer and cider sales of its Kona, Widmer Brothers, Redhook and Omission beer brands, and Square Mile cider brand, and Pubs operations, which include its approximately five pubs, over four of which are located adjacent to its Beer Related operations, as well as other merchandise sales, and sales of its beers directly to customers.
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