Boston Beer (NYSE:SAM) Shares Down 4.1% After Analyst Downgrade

The Boston Beer Company, Inc. (NYSE:SAM)’s share price fell 4.1% during mid-day trading on Monday after Roth Mkm lowered their price target on the stock from $395.00 to $389.00. Roth Mkm currently has a buy rating on the stock. Boston Beer traded as low as $278.87 and last traded at $278.87. 8,966 shares traded hands during mid-day trading, a decline of 95% from the average session volume of 174,040 shares. The stock had previously closed at $290.91.

Several other research firms have also recently weighed in on SAM. Royal Bank of Canada reduced their price target on Boston Beer from $332.00 to $318.00 and set a “sector perform” rating on the stock in a report on Friday. Deutsche Bank Aktiengesellschaft boosted their price target on Boston Beer from $273.00 to $283.00 and gave the stock a “hold” rating in a report on Wednesday, July 17th. StockNews.com cut Boston Beer from a “buy” rating to a “hold” rating in a report on Wednesday, June 12th. Morgan Stanley upgraded Boston Beer from an “underweight” rating to an “equal weight” rating and set a $290.00 price target on the stock in a report on Wednesday, June 5th. Finally, Jefferies Financial Group upgraded Boston Beer from a “hold” rating to a “buy” rating and boosted their price target for the stock from $335.00 to $360.00 in a report on Tuesday, May 14th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $328.69.

Hedge Funds Weigh In On Boston Beer

Institutional investors have recently modified their holdings of the company. LRI Investments LLC purchased a new position in shares of Boston Beer during the 1st quarter valued at $28,000. Quarry LP purchased a new stake in Boston Beer during the 4th quarter worth about $42,000. ORG Partners LLC purchased a new stake in Boston Beer during the 2nd quarter worth about $48,000. CWM LLC lifted its holdings in Boston Beer by 17.6% during the 4th quarter. CWM LLC now owns 227 shares of the company’s stock worth $78,000 after purchasing an additional 34 shares in the last quarter. Finally, Principal Securities Inc. purchased a new stake in Boston Beer during the 4th quarter worth about $82,000. 81.13% of the stock is owned by institutional investors and hedge funds.

Boston Beer Trading Down 4.1 %

The business has a fifty day moving average of $286.72 and a 200-day moving average of $305.19. The firm has a market cap of $3.33 billion, a PE ratio of 36.50, a PEG ratio of 1.17 and a beta of 1.03.

Boston Beer (NYSE:SAM) last issued its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $597.33 million. Boston Beer had a return on equity of 9.69% and a net margin of 4.39%. The business’s revenue for the quarter was down 4.0% on a year-over-year basis. During the same period last year, the company posted $4.72 EPS. On average, equities analysts forecast that The Boston Beer Company, Inc. will post 9.78 EPS for the current year.

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.