Boston Beer (NYSE:SAM) Given Sector Perform Rating at Royal Bank of Canada

Boston Beer (NYSE:SAM - Get Free Report)'s stock had its "sector perform" rating reissued by equities researchers at Royal Bank of Canada in a research note issued to investors on Tuesday,Benzinga reports. They presently have a $279.00 price target on the stock. Royal Bank of Canada's target price would indicate a potential upside of 11.85% from the stock's current price.

A number of other equities analysts also recently weighed in on the stock. StockNews.com downgraded shares of Boston Beer from a "buy" rating to a "hold" rating in a research note on Wednesday, March 5th. UBS Group increased their price objective on shares of Boston Beer from $265.00 to $279.00 and gave the stock a "neutral" rating in a research note on Thursday, April 17th. Morgan Stanley lowered their price target on Boston Beer from $290.00 to $270.00 and set an "equal weight" rating on the stock in a research report on Wednesday, February 26th. Piper Sandler reduced their price target on Boston Beer from $240.00 to $230.00 and set a "neutral" rating for the company in a research note on Thursday, April 17th. Finally, Roth Mkm reaffirmed a "buy" rating and set a $349.00 price objective (down previously from $389.00) on shares of Boston Beer in a research report on Wednesday, February 26th. Nine equities research analysts have rated the stock with a hold rating and three have given 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 price target of $290.01.

Boston Beer Trading Up 2.9 %

NYSE SAM traded up $7.05 during trading hours on Tuesday, reaching $249.45. The company's stock had a trading volume of 382,469 shares, compared to its average volume of 172,797. The stock has a market cap of $2.80 billion, a PE ratio of 36.68, a PEG ratio of 1.23 and a beta of 1.26. Boston Beer has a 52 week low of $215.10 and a 52 week high of $339.77. The business has a 50-day simple moving average of $236.77 and a 200 day simple moving average of $268.87.

Boston Beer (NYSE:SAM - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The company reported $2.16 EPS for the quarter, beating analysts' consensus estimates of $0.78 by $1.38. The business had revenue of $481.36 million for the quarter, compared to analyst estimates of $436.27 million. Boston Beer had a net margin of 3.82% and a return on equity of 11.76%. As a group, equities analysts predict that Boston Beer will post 9.29 EPS for the current year.

Hedge Funds Weigh In On Boston Beer

Institutional investors and hedge funds have recently modified their holdings of the stock. Entropy Technologies LP bought a new stake in shares of Boston Beer in the fourth quarter valued at about $368,000. Legato Capital Management LLC acquired a new position in Boston Beer in the fourth quarter valued at approximately $1,966,000. Merit Financial Group LLC purchased a new stake in shares of Boston Beer during the 4th quarter worth about $434,000. Charles Schwab Investment Management Inc. grew its stake in Boston Beer by 5.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 94,356 shares of the company's stock valued at $28,305,000 after acquiring an additional 4,675 shares during the period. Finally, Norges Bank purchased a new stake in Boston Beer during the 4th quarter worth approximately $30,741,000. Hedge funds and other institutional investors own 81.13% of the company's stock.

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.