Brokerages Set The Boston Beer Company, Inc. (NYSE:SAM) PT at $302.90

The Boston Beer Company, Inc. (NYSE:SAM - Get Free Report) has been assigned an average recommendation of "Hold" from the eleven research firms that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $302.90.

Several equities research analysts recently commented on the stock. Citigroup cut their target price on shares of Boston Beer from $335.00 to $290.00 and set a "neutral" rating on the stock in a research report on Wednesday, January 15th. Roth Mkm reissued a "buy" rating and issued a $389.00 price objective on shares of Boston Beer in a research note on Wednesday, October 23rd. UBS Group lowered their target price on Boston Beer from $315.00 to $290.00 and set a "neutral" rating for the company in a research report on Thursday, January 16th. StockNews.com lowered Boston Beer from a "buy" rating to a "hold" rating in a research report on Wednesday, January 15th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on Boston Beer from $281.00 to $277.00 and set a "hold" rating for the company in a research report on Thursday, October 24th.

Boston Beer Stock Down 1.5 %

Boston Beer stock traded down $3.90 during trading hours on Tuesday, hitting $250.77. The stock had a trading volume of 250,946 shares, compared to its average volume of 188,832. The business's 50 day simple moving average is $289.65 and its 200-day simple moving average is $286.25. Boston Beer has a one year low of $243.20 and a one year high of $371.65. The stock has a market cap of $2.88 billion, a price-to-earnings ratio of 36.88, a P/E/G ratio of 0.80 and a beta of 1.08.

Institutional Investors Weigh In On Boston Beer

Hedge funds have recently added to or reduced their stakes in the business. Blue Trust Inc. grew 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 worth $26,000 after buying an additional 73 shares during the period. First Horizon Advisors Inc. boosted its stake in Boston Beer by 105.1% during the third quarter. First Horizon Advisors Inc. now owns 121 shares of the company's stock worth $35,000 after acquiring an additional 62 shares in the last quarter. Covestor Ltd grew its holdings in Boston Beer by 36.6% in the third quarter. Covestor Ltd now owns 127 shares of the company's stock worth $37,000 after purchasing an additional 34 shares during the period. GAMMA Investing LLC increased its stake in Boston Beer by 59.3% in the fourth quarter. GAMMA Investing LLC now owns 129 shares of the company's stock valued at $39,000 after purchasing an additional 48 shares in the last quarter. Finally, True Wealth Design LLC acquired a new position in shares of Boston Beer during the third quarter valued at about $47,000. 81.13% of the stock is currently owned by institutional investors.

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.