Boston Beer (NYSE:SAM) PT Lowered to $344.00 at Piper Sandler

Boston Beer (NYSE:SAM) had its target price reduced by Piper Sandler from $350.00 to $344.00 in a report issued on Friday morning, Benzinga reports. They currently have an overweight rating on the stock.

A number of other analysts have also weighed in on the stock. StockNews.com lowered shares of Boston Beer from a buy rating to a hold rating in a report on Wednesday, June 12th. Evercore ISI raised their price target on shares of Boston Beer from $310.00 to $325.00 and gave the company an in-line rating in a report on Friday, April 26th. Jefferies Financial Group raised shares of Boston Beer from a hold rating to a buy rating and raised their price target for the company from $335.00 to $360.00 in a report on Tuesday, May 14th. Morgan Stanley raised 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 report on Wednesday, June 5th. Finally, The Goldman Sachs Group lowered their price target on shares of Boston Beer from $257.00 to $250.00 and set a sell rating for the company in a report on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of Hold and a consensus price target of $334.57.

Boston Beer Stock Down 1.2 %

NYSE SAM opened at $284.94 on Friday. The stock has a market cap of $3.41 billion, a P/E ratio of 35.75, a PEG ratio of 1.08 and a beta of 1.03. Boston Beer has a twelve month low of $254.40 and a twelve month high of $395.52. The company’s 50-day simple moving average is $287.27 and its 200 day simple moving average is $308.90.

Boston Beer (NYSE:SAM) last posted its earnings results on Thursday, April 25th. The company reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.96. The business had revenue of $426.05 million for the quarter, compared to analyst estimates of $414.18 million. Boston Beer had a net margin of 4.60% and a return on equity of 10.11%. Research analysts anticipate that Boston Beer will post 10.25 earnings per share for the current year.

Institutional Investors Weigh In On Boston Beer

A number of large investors have recently added to or reduced their stakes in SAM. Trexquant Investment LP boosted its holdings in shares of Boston Beer by 136.3% during the fourth quarter. Trexquant Investment LP now owns 13,171 shares of the company’s stock worth $4,552,000 after acquiring an additional 7,598 shares during the period. Wellington Management Group LLP boosted its stake in Boston Beer by 26.5% in the 3rd quarter. Wellington Management Group LLP now owns 66,548 shares of the company’s stock valued at $25,922,000 after purchasing an additional 13,951 shares during the period. Wedge Capital Management L L P NC acquired a new position in Boston Beer in the 4th quarter valued at $1,010,000. International Assets Investment Management LLC bought a new position in Boston Beer during the 4th quarter worth $64,490,000. Finally, Amica Mutual Insurance Co. acquired a new stake in shares of Boston Beer during the fourth quarter worth $1,109,000. 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.