The Boston Beer Company, Inc. (NYSE:SAM) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of The Boston Beer Company, Inc. (NYSE:SAM) have received a consensus recommendation of “Hold” from the twelve brokerages that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $326.92.

Several brokerages have recently weighed in on SAM. Jefferies Financial Group upgraded shares of Boston Beer from a “hold” rating to a “buy” rating and upped their target price for the company from $335.00 to $360.00 in a research note on Tuesday, May 14th. Piper Sandler lowered their price objective on Boston Beer from $344.00 to $325.00 and set an “overweight” rating for the company in a research note on Friday, July 26th. Royal Bank of Canada cut their target price on Boston Beer from $332.00 to $318.00 and set a “sector perform” rating on the stock in a research report on Friday, July 26th. StockNews.com cut Boston Beer from a “buy” rating to a “hold” rating in a research note on Wednesday, June 12th. Finally, Morgan Stanley upgraded shares of Boston Beer from an “underweight” rating to an “equal weight” rating and set a $290.00 price target for the company in a research note on Wednesday, June 5th.

Boston Beer Trading Up 1.0 %

Shares of NYSE SAM opened at $284.35 on Friday. The stock has a fifty day moving average price of $280.47 and a 200 day moving average price of $289.35. The company has a market cap of $3.40 billion, a P/E ratio of 35.68, a P/E/G ratio of 1.11 and a beta of 1.05. Boston Beer has a 12-month low of $254.40 and a 12-month high of $395.52.

Boston Beer (NYSE:SAM) last posted its earnings results on Thursday, July 25th. The company reported $4.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.99 by ($0.60). The company had revenue of $579.10 million during the quarter, compared to analyst estimates of $597.33 million. Boston Beer had a net margin of 4.39% and a return on equity of 9.69%. Boston Beer’s quarterly revenue was down 4.0% compared to the same quarter last year. During the same quarter last year, the business posted $4.72 EPS. On average, sell-side analysts forecast that Boston Beer will post 9.65 EPS for the current fiscal year.

Institutional Investors Weigh In On Boston Beer

Institutional investors and hedge funds have recently bought and sold shares of the business. LRI Investments LLC bought a new position in shares of Boston Beer during the first quarter valued at approximately $28,000. Quarry LP bought a new position in Boston Beer during the 4th quarter worth $42,000. ORG Partners LLC bought a new position in Boston Beer during the 2nd quarter worth $48,000. Sachetta LLC lifted its stake in Boston Beer by 1,533.3% in the second quarter. Sachetta LLC now owns 245 shares of the company’s stock valued at $68,000 after buying an additional 230 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its holdings in shares of Boston Beer by 61.3% during the second quarter. DekaBank Deutsche Girozentrale now owns 250 shares of the company’s stock valued at $75,000 after acquiring an additional 95 shares during the period. Institutional investors and hedge funds 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.