StockNews.com Upgrades Boston Beer (NYSE:SAM) to “Buy”

Boston Beer (NYSE:SAM) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Tuesday.

A number of other brokerages have also recently issued reports on SAM. Piper Sandler cut shares of Boston Beer from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $370.00 to $275.00 in a research report on Thursday, January 23rd. Needham & Company LLC assumed coverage on shares of Boston Beer in a report on Friday, December 6th. They set a “hold” rating for the company. Citigroup dropped their price target on Boston Beer from $335.00 to $290.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 15th. Finally, UBS Group reduced their price objective 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. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $302.90.

Boston Beer Trading Up 0.1 %

Boston Beer stock traded up $0.25 during trading hours on Tuesday, hitting $234.08. 325,728 shares of the stock traded hands, compared to its average volume of 195,612. Boston Beer has a one year low of $222.27 and a one year high of $371.65. The company has a market cap of $2.69 billion, a PE ratio of 34.42, a PEG ratio of 1.23 and a beta of 1.06. The firm’s 50-day moving average price is $261.05 and its two-hundred day moving average price is $281.06.

Boston Beer (NYSE:SAM) last released its quarterly earnings results on Tuesday, February 25th. The company reported ($1.68) earnings per share for the quarter, missing the consensus estimate of ($1.21) by ($0.47). Boston Beer had a net margin of 3.82% and a return on equity of 11.76%. On average, sell-side analysts expect that Boston Beer will post 9.29 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of SAM. Blue Trust Inc. increased its holdings in Boston Beer by 405.6% in the 4th quarter. Blue Trust Inc. now owns 91 shares of the company’s stock worth $26,000 after buying an additional 73 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Boston Beer by 2,225.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 93 shares of the company’s stock worth $28,000 after acquiring an additional 89 shares during the period. First Horizon Advisors Inc. raised its holdings in shares of Boston Beer by 105.1% during the third quarter. First Horizon Advisors Inc. now owns 121 shares of the company’s stock valued at $35,000 after purchasing an additional 62 shares during the last quarter. GeoWealth Management LLC bought a new position in Boston Beer during the fourth quarter valued at approximately $35,000. Finally, Covestor Ltd boosted 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 last quarter. Hedge funds and other institutional investors own 81.13% of the company’s stock.

About Boston Beer

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.