Boston Beer (NYSE:SAM) Stock Rating Reaffirmed by Royal Bank of Canada

Boston Beer (NYSE:SAM - Get Free Report)'s stock had its "sector perform" rating reaffirmed by equities research analysts at Royal Bank of Canada in a research report issued on Friday, Benzinga reports. They presently have a $318.00 target price on the stock. Royal Bank of Canada's price target points to a potential upside of 7.45% from the company's current price.

SAM has been the subject of several other research reports. Jefferies Financial Group lowered Boston Beer from a "buy" rating to a "hold" rating and cut their target price for the stock from $355.00 to $325.00 in a research note on Friday. Piper Sandler increased their target price on shares of Boston Beer from $325.00 to $330.00 and gave the company an "overweight" rating in a report on Friday. UBS Group upped their price target on shares of Boston Beer from $300.00 to $309.00 in a research report on Thursday. Roth Mkm reaffirmed a "buy" rating and set a $389.00 price objective on shares of Boston Beer in a research note on Wednesday. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on Boston Beer from $281.00 to $277.00 and set a "hold" rating for the company in a research note on Thursday. One analyst has rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Boston Beer has an average rating of "Hold" and an average target price of $320.08.

Boston Beer Price Performance

SAM stock traded down $5.92 during midday trading on Friday, reaching $295.96. The company had a trading volume of 340,978 shares, compared to its average volume of 159,857. The firm has a 50-day moving average price of $279.44 and a 200-day moving average price of $282.31. The company has a market capitalization of $3.47 billion, a P/E ratio of 38.74, a P/E/G ratio of 1.23 and a beta of 1.06. Boston Beer has a 1 year low of $254.40 and a 1 year high of $372.61.

Boston Beer (NYSE:SAM - Get Free Report) last released its earnings results on Thursday, July 25th. The company reported $4.39 EPS for the quarter, missing analysts' consensus estimates of $4.99 by ($0.60). Boston Beer had a net margin of 4.39% and a return on equity of 9.69%. The firm had revenue of $579.10 million during the quarter, compared to the consensus estimate of $597.33 million. During the same period in the prior year, the company earned $4.72 EPS. The firm's revenue was down 4.0% compared to the same quarter last year. On average, equities analysts predict that Boston Beer will post 9.63 EPS for the current year.

Hedge Funds Weigh In On Boston Beer

Several hedge funds and other institutional investors have recently modified their holdings of SAM. Pallas Capital Advisors LLC boosted its position in Boston Beer by 323.5% during the 3rd quarter. Pallas Capital Advisors LLC now owns 3,261 shares of the company's stock valued at $984,000 after acquiring an additional 2,491 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Boston Beer by 389.2% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 5,714 shares of the company's stock valued at $1,652,000 after purchasing an additional 4,546 shares during the period. International Assets Investment Management LLC purchased a new stake in Boston Beer in the third quarter worth $45,150,000. Aaron Wealth Advisors LLC purchased a new stake in Boston Beer in the third quarter worth $329,000. Finally, Claro Advisors LLC bought a new position in Boston Beer in the third quarter worth $1,762,000. Hedge funds and other institutional investors own 81.13% of the company's stock.

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.