Boston Beer (NYSE:SAM) Given Buy Rating at Roth Mkm

Boston Beer (NYSE:SAM - Get Free Report)'s stock had its "buy" rating reaffirmed by investment analysts at Roth Mkm in a report issued on Wednesday,Benzinga reports. They presently have a $349.00 target price on the stock, down from their previous target price of $389.00. Roth Mkm's price objective indicates a potential upside of 43.15% from the stock's current price.

A number of other equities research analysts have also commented on SAM. Piper Sandler lowered Boston Beer from an "overweight" rating to a "neutral" rating and decreased their price objective for the stock from $370.00 to $275.00 in a research report on Thursday, January 23rd. UBS Group reduced their price target on Boston Beer from $315.00 to $290.00 and set a "neutral" rating for the company in a report on Thursday, January 16th. Citigroup reduced their price target on Boston Beer from $335.00 to $290.00 and set a "neutral" rating for the company in a report on Wednesday, January 15th. Needham & Company LLC assumed coverage on Boston Beer in a report on Friday, December 6th. They set a "hold" rating for the company. Finally, Morgan Stanley reduced their price target on Boston Beer from $290.00 to $270.00 and set an "equal weight" rating for the company in a report on Wednesday. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $293.40.

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Boston Beer Stock Performance

SAM traded down $0.24 during trading on Wednesday, reaching $243.80. The company had a trading volume of 412,325 shares, compared to its average volume of 213,562. The firm's 50-day simple moving average is $257.33 and its 200 day simple moving average is $280.42. The company has a market cap of $2.80 billion, a price-to-earnings ratio of 35.85, a PEG ratio of 1.23 and a beta of 1.06. Boston Beer has a 12-month low of $222.27 and a 12-month high of $339.77.

Institutional Investors Weigh In On Boston Beer

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Mackenzie Financial Corp acquired a new stake in Boston Beer in the 4th quarter worth approximately $416,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Boston Beer by 24.4% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 20,835 shares of the company's stock worth $6,250,000 after buying an additional 4,082 shares during the last quarter. Squarepoint Ops LLC lifted its holdings in shares of Boston Beer by 9.0% during the fourth quarter. Squarepoint Ops LLC now owns 8,666 shares of the company's stock worth $2,600,000 after buying an additional 717 shares during the last quarter. Tidal Investments LLC lifted its holdings in shares of Boston Beer by 105.1% during the fourth quarter. Tidal Investments LLC now owns 2,119 shares of the company's stock worth $636,000 after buying an additional 1,086 shares during the last quarter. Finally, True Wealth Design LLC lifted its holdings in shares of Boston Beer by 44.1% during the fourth quarter. True Wealth Design LLC now owns 232 shares of the company's stock worth $70,000 after buying an additional 71 shares during the last quarter. 81.13% of the stock is currently 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, flavored malt beverages, and hard seltzers under the Samuel Adams, Twisted Tea, Truly, Angry Orchard, Dogfish Head, Angel City, and Coney Island brand names.