The Boston Beer Company, Inc. (NYSE:SAM - Get Free Report) gapped up prior to trading on Friday after the company announced better than expected quarterly earnings. The stock had previously closed at $242.40, but opened at $252.97. Boston Beer shares last traded at $238.94, with a volume of 51,682 shares.
The company reported $2.16 EPS for the quarter, topping the consensus estimate of $0.78 by $1.38. The company had revenue of $481.36 million for the quarter, compared to analysts' expectations of $436.27 million. Boston Beer had a return on equity of 11.76% and a net margin of 3.82%.
Wall Street Analyst Weigh In
Several research analysts recently weighed in on the stock. StockNews.com upgraded shares of Boston Beer from a "hold" rating to a "buy" rating in a research report on Friday. Piper Sandler cut their price target on Boston Beer from $240.00 to $230.00 and set a "neutral" rating on the stock in a research note on Thursday, April 17th. UBS Group lifted their price objective on Boston Beer from $265.00 to $279.00 and gave the stock a "neutral" rating in a research report on Thursday, April 17th. Royal Bank of Canada restated a "sector perform" rating and set a $279.00 target price on shares of Boston Beer in a research report on Tuesday, April 22nd. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Boston Beer in a research note on Friday. Eight investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $286.12.
View Our Latest Analysis on Boston Beer
Institutional Investors Weigh In On Boston Beer
Several hedge funds have recently bought and sold shares of SAM. Entropy Technologies LP bought a new stake in shares of Boston Beer in the 4th quarter valued at $368,000. Legato Capital Management LLC acquired a new position in Boston Beer in the fourth quarter valued at about $1,966,000. Merit Financial Group LLC bought a new stake in shares of Boston Beer in the fourth quarter worth about $434,000. Charles Schwab Investment Management Inc. raised its position in shares of Boston Beer by 5.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 94,356 shares of the company's stock worth $28,305,000 after purchasing an additional 4,675 shares during the period. Finally, Norges Bank acquired a new stake in shares of Boston Beer during the fourth quarter worth about $30,741,000. 81.13% of the stock is currently owned by institutional investors and hedge funds.
Boston Beer Trading Up 2.9 %
The firm has a market cap of $2.80 billion, a P/E ratio of 36.68, a PEG ratio of 1.23 and a beta of 1.26. The company has a fifty day moving average price of $236.77 and a two-hundred day moving average price of $268.80.
Boston Beer Company Profile
(
Get Free Report)
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.
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