Boston Beer (NYSE:SAM) had its price target lifted by investment analysts at Guggenheim from $372.00 to $421.00 in a report released on Friday, Marketbeat.com reports. The brokerage presently has a “buy” rating on the stock. Guggenheim’s price objective points to a potential upside of 6.09% from the stock’s current price.
Several other equities research analysts have also issued reports on the stock. Goldman Sachs Group initiated coverage on shares of Colfax in a report on Friday, April 5th. They issued a “buy” rating and a $34.00 price target on the stock. Zacks Investment Research lowered shares of Hancock Jaffe Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, June 26th. ValuEngine lowered shares of Ultrapar Participacoes from a “sell” rating to a “strong sell” rating in a report on Thursday, April 25th. Credit Suisse Group lowered shares of Air China from a “neutral” rating to an “underperform” rating in a report on Monday, June 10th. Finally, Macquarie boosted their price target on shares of Boston Beer from $325.00 to $365.00 and gave the company a “neutral” rating in a report on Friday, May 10th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $305.52.
NYSE:SAM opened at $396.83 on Friday. The firm has a market cap of $4.63 billion, a PE ratio of 53.12, a P/E/G ratio of 4.46 and a beta of 0.69. Boston Beer has a one year low of $230.93 and a one year high of $400.10. The firm’s fifty day moving average is $347.54.
Boston Beer (NYSE:SAM) last announced its quarterly earnings results on Wednesday, April 24th. The company reported $1.87 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.89 by $0.98. The firm had revenue of $252.00 million for the quarter, compared to analyst estimates of $232.19 million. Boston Beer had a net margin of 9.94% and a return on equity of 23.00%. The business’s revenue for the quarter was up 32.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.55 EPS. On average, equities research analysts anticipate that Boston Beer will post 8.59 earnings per share for the current fiscal year.
In other news, VP David L. Grinnell sold 1,000 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $331.25, for a total value of $331,250.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP David L. Grinnell sold 500 shares of the company’s stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $357.50, for a total transaction of $178,750.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,105 shares of company stock worth $2,230,975. 28.40% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently bought and sold shares of SAM. Norges Bank bought a new stake in Boston Beer during the 4th quarter worth about $22,173,000. FMR LLC grew its holdings in Boston Beer by 303,565.2% during the 4th quarter. FMR LLC now owns 69,843 shares of the company’s stock worth $16,821,000 after acquiring an additional 69,820 shares during the last quarter. Squarepoint Ops LLC grew its holdings in Boston Beer by 2,573.5% during the 4th quarter. Squarepoint Ops LLC now owns 22,805 shares of the company’s stock worth $5,492,000 after acquiring an additional 21,952 shares during the last quarter. BlackRock Inc. grew its holdings in Boston Beer by 2.3% during the 4th quarter. BlackRock Inc. now owns 972,983 shares of the company’s stock worth $234,331,000 after acquiring an additional 21,945 shares during the last quarter. Finally, Hsbc Holdings PLC bought a new stake in Boston Beer during the 4th quarter worth about $3,333,000. 74.34% of the stock is currently owned by institutional investors and hedge funds.
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, and hard seltzers under the Samuel Adams, Twisted Tea, Angry Orchard Hard Cider, and Truly Hard Seltzer brand names.
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