Boston Beer (NYSE:SAM) Upgraded by Cfra Research to Moderate Buy Rating

Cfra Research upgraded shares of Boston Beer (NYSE:SAM - Free Report) from a moderate sell rating to a moderate buy rating in a research report report published on Thursday morning,Zacks.com reports.

SAM has been the subject of a number of other research reports. 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, February 26th. Piper Sandler cut their price objective 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. Berenberg Bank began coverage on Boston Beer in a research note on Wednesday, April 2nd. They set a "hold" rating and a $281.10 price objective on the stock. Needham & Company LLC restated a "hold" rating on shares of Boston Beer in a research note on Friday. Finally, StockNews.com upgraded Boston Beer from a "hold" rating to a "buy" rating in a research note on Friday. Eight investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Boston Beer presently has a consensus rating of "Hold" and an average price target of $286.12.

Boston Beer Price Performance

SAM traded up $8.38 on Thursday, reaching $246.39. The company's stock had a trading volume of 187,113 shares, compared to its average volume of 171,643. The stock has a market cap of $2.77 billion, a price-to-earnings ratio of 36.23, a price-to-earnings-growth ratio of 1.23 and a beta of 1.26. Boston Beer has a 1 year low of $215.10 and a 1 year high of $339.77. The business's 50 day moving average is $237.02 and its 200 day moving average is $268.55.

Boston Beer (NYSE:SAM - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The company reported $2.16 EPS for the quarter, beating analysts' consensus estimates of $0.78 by $1.38. The firm had revenue of $481.36 million during the quarter, compared to the consensus estimate of $436.27 million. Boston Beer had a return on equity of 11.76% and a net margin of 3.82%. Boston Beer's revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.04 earnings per share. As a group, research analysts forecast that Boston Beer will post 9.29 earnings per share for the current fiscal year.

Institutional Trading of Boston Beer

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Entropy Technologies LP acquired a new stake in Boston Beer in the 4th quarter valued at approximately $368,000. Legato Capital Management LLC acquired a new position in shares of Boston Beer during the fourth quarter valued at $1,966,000. Merit Financial Group LLC bought a new stake in shares of Boston Beer during the fourth quarter valued at about $434,000. Charles Schwab Investment Management Inc. lifted its holdings in Boston Beer by 5.2% in 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 Boston Beer in the fourth quarter worth about $30,741,000. 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.