Boston Beer (NYSE:SAM) Upgraded at StockNews.com

StockNews.com upgraded shares of Boston Beer (NYSE:SAM - Free Report) from a hold rating to a buy rating in a research report sent to investors on Tuesday morning.

Several other research analysts also recently commented on SAM. Needham & Company LLC started coverage on shares of Boston Beer in a report on Friday, December 6th. They issued a "hold" rating on the stock. Piper Sandler downgraded shares of Boston Beer from an "overweight" rating to a "neutral" rating and dropped their price objective for the stock from $370.00 to $275.00 in a report on Thursday, January 23rd. UBS Group dropped their price objective on shares of Boston Beer from $315.00 to $290.00 and set a "neutral" rating on the stock in a report on Thursday, January 16th. Finally, Citigroup dropped their price objective on shares of Boston Beer from $335.00 to $290.00 and set a "neutral" rating on the stock in a report on Wednesday, January 15th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $293.40.

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Boston Beer Trading Down 0.1 %

SAM traded down $0.24 during trading on Tuesday, hitting $243.80. The stock had a trading volume of 412,325 shares, compared to its average volume of 213,562. The firm has a market cap of $2.80 billion, a PE ratio of 35.85, a P/E/G ratio of 1.23 and a beta of 1.06. Boston Beer has a 12 month low of $222.27 and a 12 month high of $339.77. The company has a 50 day simple moving average of $257.33 and a 200-day simple moving average of $280.37.

Institutional Trading of Boston Beer

Institutional investors have recently made changes to their positions in the business. Blue Trust Inc. boosted its position in shares of 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 acquiring an additional 73 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in Boston Beer by 2,225.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 93 shares of the company's stock valued at $28,000 after buying an additional 89 shares in the last quarter. GeoWealth Management LLC acquired a new position in Boston Beer in the fourth quarter valued at about $35,000. First Horizon Advisors Inc. boosted its position in Boston Beer by 105.1% in the third quarter. First Horizon Advisors Inc. now owns 121 shares of the company's stock valued at $35,000 after buying an additional 62 shares in the last quarter. Finally, Covestor Ltd boosted its position in Boston Beer by 36.6% in the third quarter. Covestor Ltd now owns 127 shares of the company's stock valued at $37,000 after buying an additional 34 shares in the last quarter. 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.