Boston Beer's (SAM) Hold Rating Reaffirmed at Needham & Company LLC

Boston Beer (NYSE:SAM - Get Free Report)'s stock had its "hold" rating restated by equities research analysts at Needham & Company LLC in a research report issued to clients and investors on Friday,Benzinga reports.

Several other analysts have also recently commented on SAM. Morgan Stanley decreased their price target on shares of Boston Beer from $290.00 to $270.00 and set an "equal weight" rating on the stock in a research note on Wednesday, February 26th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $279.00 price target on shares of Boston Beer in a research note on Tuesday, April 22nd. StockNews.com cut shares of Boston Beer from a "buy" rating to a "hold" rating in a research note on Wednesday, March 5th. Citigroup boosted their price target on shares of Boston Beer from $280.00 to $285.00 and gave the stock a "buy" rating in a research note on Monday, April 14th. Finally, Roth Mkm reiterated a "buy" rating and issued a $349.00 price target (down previously from $389.00) on shares of Boston Beer in a research note on Wednesday, February 26th. Eight equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Boston Beer presently has a consensus rating of "Hold" and an average target price of $286.12.

Boston Beer Trading Up 2.9 %

Shares of SAM traded up $7.05 during trading hours on Friday, reaching $249.45. 382,469 shares of the stock traded hands, compared to its average volume of 171,869. Boston Beer has a 52-week low of $215.10 and a 52-week high of $339.77. The company's 50-day moving average price is $236.77 and its two-hundred day moving average price is $268.80. The company has a market cap of $2.80 billion, a P/E ratio of 36.68, a price-to-earnings-growth ratio of 1.23 and a beta of 1.26.

Boston Beer (NYSE:SAM - Get Free Report) last released its earnings results on Thursday, April 24th. The company reported $2.16 earnings per share for the quarter, beating analysts' consensus estimates of $0.78 by $1.38. Boston Beer had a net margin of 3.82% and a return on equity of 11.76%. The company had revenue of $481.36 million for the quarter, compared to analysts' expectations of $436.27 million. On average, research analysts forecast that Boston Beer will post 9.29 EPS for the current year.

Hedge Funds Weigh In On Boston Beer

Several hedge funds have recently added to or reduced their stakes in SAM. Blue Trust Inc. grew its holdings in Boston Beer by 405.6% during the 4th quarter. Blue Trust Inc. now owns 91 shares of the company's stock valued at $26,000 after purchasing an additional 73 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in Boston Beer by 2,225.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 93 shares of the company's stock worth $28,000 after buying an additional 89 shares during the last quarter. GeoWealth Management LLC purchased a new position in Boston Beer during the 4th quarter worth $35,000. GAMMA Investing LLC grew its stake in Boston Beer by 59.3% during the 4th quarter. GAMMA Investing LLC now owns 129 shares of the company's stock worth $39,000 after buying an additional 48 shares during the last quarter. Finally, First Horizon Advisors Inc. grew its stake in Boston Beer by 42.1% during the 4th quarter. First Horizon Advisors Inc. now owns 172 shares of the company's stock worth $52,000 after buying an additional 51 shares during the last quarter. 81.13% of the stock is currently owned by institutional investors.

About Boston Beer

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.