Boston Beer (NYSE:SAM) PT Raised to $421.00 at Guggenheim

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Boston Beer (NYSE:SAM) had its price target raised by stock analysts at Guggenheim from $372.00 to $421.00 in a research report issued on Friday, MarketBeat.com reports. The firm presently has a “buy” rating on the stock. Guggenheim’s price target indicates a potential upside of 6.09% from the stock’s current price.

Other equities analysts have also recently issued reports about the stock. Macquarie raised their price target on shares of Boston Beer from $325.00 to $365.00 and gave the stock a “neutral” rating in a research note on Friday, May 10th. ValuEngine cut shares of Ultrapar Participacoes from a “sell” rating to a “strong sell” rating in a research note on Thursday, April 25th. Credit Suisse Group cut shares of Air China from a “neutral” rating to an “underperform” rating in a research note on Monday, June 10th. Zacks Investment Research cut shares of Hancock Jaffe Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, June 26th. Finally, Goldman Sachs Group began coverage on shares of Colfax in a research note on Friday, April 5th. They set a “buy” rating and a $34.00 price target for the company. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $305.52.

Shares of SAM stock opened at $396.83 on Friday. The firm has a market cap of $4.63 billion, a P/E ratio of 53.12, a P/E/G ratio of 4.46 and a beta of 0.69. The business’s 50 day moving average is $347.54. Boston Beer has a 52 week low of $230.93 and a 52 week high of $400.10.

Boston Beer (NYSE:SAM) last issued its quarterly earnings results on Wednesday, April 24th. The company reported $1.87 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.98. The company had revenue of $252.00 million during the quarter, compared to analysts’ expectations of $232.19 million. Boston Beer had a net margin of 9.94% and a return on equity of 23.00%. The business’s quarterly revenue was up 32.3% on a year-over-year basis. During the same period last year, the business earned $0.55 EPS. Analysts forecast that Boston Beer will post 8.59 earnings per share for the current year.

In related news, VP David L. Grinnell sold 500 shares of the firm’s stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $357.50, for a total value of $178,750.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP David L. Grinnell sold 1,000 shares of the firm’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $331.25, for a total transaction of $331,250.00. The disclosure for this sale can be found here. Insiders sold 7,105 shares of company stock valued at $2,230,975 over the last three months. 28.40% of the stock is owned by company insiders.

Large investors have recently added to or reduced their stakes in the stock. GYL Financial Synergies LLC acquired a new stake in Boston Beer during the 1st quarter valued at $1,556,000. Lord Abbett & CO. LLC lifted its holdings in Boston Beer by 3.6% during the 4th quarter. Lord Abbett & CO. LLC now owns 24,428 shares of the company’s stock valued at $5,883,000 after purchasing an additional 860 shares during the last quarter. Norges Bank acquired a new stake in Boston Beer during the 4th quarter valued at $22,173,000. FMR LLC lifted its holdings in Boston Beer by 303,565.2% during the 4th quarter. FMR LLC now owns 69,843 shares of the company’s stock valued at $16,821,000 after purchasing an additional 69,820 shares during the last quarter. Finally, QS Investors LLC lifted its holdings in Boston Beer by 2,250.7% during the 4th quarter. QS Investors LLC now owns 8,110 shares of the company’s stock valued at $1,954,000 after purchasing an additional 7,765 shares during the last quarter. 74.34% of the stock is owned by institutional investors and hedge funds.

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, and hard seltzers under the Samuel Adams, Twisted Tea, Angry Orchard Hard Cider, and Truly Hard Seltzer brand names.

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Analyst Recommendations for Boston Beer (NYSE:SAM)

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