Morgan Stanley Issues Pessimistic Forecast for Boston Beer (NYSE:SAM) Stock Price

Boston Beer (NYSE:SAM) had its price target lowered by research analysts at Morgan Stanley from $290.00 to $270.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s target price would suggest a potential upside of 10.81% from the stock’s current price.

A number of other brokerages have also commented on SAM. UBS Group dropped their price target on Boston Beer from $315.00 to $290.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Needham & Company LLC started coverage on Boston Beer in a research note on Friday, December 6th. They issued a “hold” rating for the company. StockNews.com raised Boston Beer from a “hold” rating to a “buy” rating in a research note on Tuesday. Piper Sandler lowered Boston Beer from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $370.00 to $275.00 in a research note on Thursday, January 23rd. Finally, Citigroup lowered their price objective on Boston Beer from $335.00 to $290.00 and set a “neutral” rating for the company in a research note on Wednesday, January 15th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $293.40.

Boston Beer Trading Up 1.0 %

Shares of Boston Beer stock opened at $243.67 on Wednesday. The stock has a 50 day moving average of $258.51 and a 200 day moving average of $280.52. Boston Beer has a 12 month low of $222.27 and a 12 month high of $339.77. The firm has a market cap of $2.80 billion, a PE ratio of 35.83, a PEG ratio of 1.23 and a beta of 1.06.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Blue Trust Inc. increased its holdings in 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 purchasing an additional 73 shares during the period. EverSource Wealth Advisors LLC increased its holdings in Boston Beer by 2,225.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 93 shares of the company’s stock worth $28,000 after purchasing an additional 89 shares during the period. First Horizon Advisors Inc. increased its holdings in Boston Beer by 105.1% during the 3rd quarter. First Horizon Advisors Inc. now owns 121 shares of the company’s stock worth $35,000 after purchasing an additional 62 shares during the period. GeoWealth Management LLC purchased a new position in Boston Beer during the 4th quarter worth $35,000. Finally, Covestor Ltd increased its holdings 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 purchasing an additional 34 shares during the period. 81.13% of the stock is currently owned by hedge funds and other 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.