Evercore ISI Increases Boston Beer (NYSE:SAM) Price Target to $325.00

Boston Beer (NYSE:SAM) had its price target upped by Evercore ISI from $310.00 to $325.00 in a report issued on Friday, Benzinga reports. Evercore ISI currently has an in-line rating on the stock.

A number of other analysts have also recently commented on SAM. Morgan Stanley cut their target price on Boston Beer from $285.00 to $275.00 and set an underweight rating on the stock in a research report on Wednesday, February 28th. Piper Sandler began coverage on Boston Beer in a research report on Friday, March 22nd. They set an overweight rating and a $350.00 target price on the stock. UBS Group cut their target price on Boston Beer from $390.00 to $355.00 and set a neutral rating on the stock in a research report on Wednesday, February 28th. Roth Mkm lifted their target price on Boston Beer from $406.00 to $422.00 and gave the stock a buy rating in a research report on Tuesday, January 23rd. Finally, The Goldman Sachs Group cut their target price on Boston Beer from $257.00 to $250.00 and set a sell rating on the stock in a research report on Tuesday, April 9th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Boston Beer currently has an average rating of Hold and a consensus price target of $335.21.

Boston Beer Price Performance

Boston Beer stock opened at $283.20 on Friday. Boston Beer has a 1-year low of $274.78 and a 1-year high of $395.52. The stock has a market cap of $3.40 billion, a PE ratio of 35.53, a P/E/G ratio of 1.18 and a beta of 1.02. The stock’s fifty day moving average is $303.71 and its two-hundred day moving average is $333.63.

Boston Beer (NYSE:SAM) last posted its quarterly earnings results on Thursday, April 25th. The company reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.96. Boston Beer had a return on equity of 10.00% and a net margin of 4.60%. The company had revenue of $426.05 million for the quarter, compared to analysts’ expectations of $414.18 million. On average, research analysts expect that Boston Beer will post 9.9 earnings per share for the current fiscal year.

Insider Activity at Boston Beer

In related news, insider Carolyn L. O’boyle sold 101 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $303.49, for a total value of $30,652.49. Following the sale, the insider now owns 7,029 shares of the company’s stock, valued at approximately $2,133,231.21. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Boston Beer news, insider Carolyn L. O’boyle sold 102 shares of the business’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $350.72, for a total value of $35,773.44. Following the completion of the transaction, the insider now directly owns 2,630 shares in the company, valued at approximately $922,393.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Carolyn L. O’boyle sold 101 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $303.49, for a total value of $30,652.49. Following the sale, the insider now owns 7,029 shares of the company’s stock, valued at $2,133,231.21. The disclosure for this sale can be found here. 23.30% of the stock is owned by corporate insiders.

Institutional Trading of Boston Beer

Institutional investors and hedge funds have recently made changes to their positions in the company. Covestor Ltd increased its holdings in shares of Boston Beer by 88.4% during the 3rd quarter. Covestor Ltd now owns 81 shares of the company’s stock worth $32,000 after buying an additional 38 shares during the last quarter. Quarry LP purchased a new stake in Boston Beer during the 4th quarter worth $42,000. First Command Advisory Services Inc. purchased a new stake in Boston Beer during the 3rd quarter worth $56,000. DekaBank Deutsche Girozentrale purchased a new position in Boston Beer in the 3rd quarter valued at about $59,000. Finally, CWM LLC boosted its position in Boston Beer by 264.2% in the 3rd quarter. CWM LLC now owns 193 shares of the company’s stock valued at $75,000 after buying an additional 140 shares during the last quarter. 81.13% of the stock is currently owned by institutional investors and hedge funds.

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.