Boston Beer (NYSE:SAM) Price Target Cut to $318.00 by Analysts at Royal Bank of Canada

Boston Beer (NYSE:SAM) had its target price cut by Royal Bank of Canada from $332.00 to $318.00 in a research report report published on Friday morning, Benzinga reports. They currently have a sector perform rating on the stock.

SAM has been the topic of several other research reports. Evercore ISI boosted their price target on shares of Boston Beer from $310.00 to $325.00 and gave the company an in-line rating in a research report on Friday, April 26th. Piper Sandler cut their price target on Boston Beer from $344.00 to $325.00 and set an overweight rating for the company in a report on Friday. Deutsche Bank Aktiengesellschaft lifted their price target on Boston Beer from $273.00 to $283.00 and gave the company a hold rating in a research report on Wednesday, July 17th. Citigroup dropped their price objective on Boston Beer from $350.00 to $315.00 and set a neutral rating on the stock in a report on Tuesday, April 16th. Finally, Morgan Stanley raised Boston Beer from an underweight rating to an equal weight rating and set a $290.00 target price for the company in a report on Wednesday, June 5th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus price target of $328.69.

Boston Beer Trading Down 2.3 %

NYSE:SAM opened at $284.09 on Friday. Boston Beer has a 12 month low of $254.40 and a 12 month high of $395.52. The firm’s 50 day moving average is $286.90 and its 200 day moving average is $304.74. The stock has a market capitalization of $3.39 billion, a PE ratio of 35.64, a price-to-earnings-growth ratio of 1.17 and a beta of 1.03.

Boston Beer (NYSE:SAM) last issued its earnings results on Thursday, July 25th. The company reported $4.39 earnings per share (EPS) for the quarter, missing the consensus estimate 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 quarter in the previous year, the firm earned $4.72 earnings per share. The business’s quarterly revenue was down 4.0% compared to the same quarter last year. Research analysts predict that Boston Beer will post 9.78 earnings per share for the current year.

Hedge Funds Weigh In On Boston Beer

Institutional investors have recently made changes to their positions in the stock. LRI Investments LLC purchased a new position in Boston Beer in the first quarter worth $28,000. Quarry LP bought a new stake in Boston Beer during the fourth quarter worth about $42,000. ORG Partners LLC purchased a new position in shares of Boston Beer in the 2nd quarter worth about $48,000. CWM LLC increased its position in shares of Boston Beer by 17.6% during the 4th quarter. CWM LLC now owns 227 shares of the company’s stock valued at $78,000 after purchasing an additional 34 shares during the last quarter. Finally, Principal Securities Inc. purchased a new position in shares of Boston Beer during the 4th quarter valued at about $82,000. 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.