Analysts Set The Boston Beer Company, Inc. (NYSE:SAM) Target Price at $314.82

The Boston Beer Company, Inc. (NYSE:SAM - Get Free Report) has been given an average rating of "Hold" by the eleven analysts that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $314.82.

A number of equities analysts recently commented on the company. Jefferies Financial Group downgraded Boston Beer from a "buy" rating to a "hold" rating and decreased their price target for the stock from $355.00 to $325.00 in a research note on Friday, October 25th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Boston Beer from $281.00 to $277.00 and set a "hold" rating for the company in a research note on Thursday, October 24th. Roth Mkm restated a "buy" rating and set a $389.00 price objective on shares of Boston Beer in a research report on Wednesday, October 23rd. Royal Bank of Canada reiterated a "sector perform" rating and issued a $318.00 price objective on shares of Boston Beer in a research report on Friday, October 25th. Finally, Piper Sandler boosted their price objective on Boston Beer from $325.00 to $330.00 and gave the stock an "overweight" rating in a research report on Friday, October 25th.

Institutional Investors Weigh In On Boston Beer

Several hedge funds have recently made changes to their positions in the company. LRI Investments LLC purchased a new position in shares of Boston Beer during the 1st quarter valued at $28,000. First Horizon Advisors Inc. raised its holdings in shares of 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 during the last quarter. Covestor Ltd lifted its position in Boston Beer by 36.6% during the 3rd quarter. Covestor Ltd now owns 127 shares of the company's stock worth $37,000 after buying an additional 34 shares in the last quarter. ORG Partners LLC bought a new stake in Boston Beer during the 2nd quarter worth about $48,000. Finally, Sachetta LLC increased its position in Boston Beer by 1,533.3% in the 2nd quarter. Sachetta LLC now owns 245 shares of the company's stock valued at $68,000 after acquiring an additional 230 shares in the last quarter. Hedge funds and other institutional investors own 81.13% of the company's stock.

Boston Beer Stock Down 0.8 %

Shares of SAM traded down $2.74 during mid-day trading on Thursday, reaching $320.82. 114,550 shares of the company's stock were exchanged, compared to its average volume of 157,117. The company has a market cap of $3.68 billion, a price-to-earnings ratio of 47.66, a PEG ratio of 1.22 and a beta of 1.06. Boston Beer has a 52-week low of $254.40 and a 52-week high of $371.65. The company has a 50-day simple moving average of $286.72 and a two-hundred day simple moving average of $283.93.

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.