Boston Beer (NYSE:SAM) Stock Price Up 8.9% – What’s Next?

The Boston Beer Company, Inc. (NYSE:SAM) shares rose 8.9% during trading on Monday. The company traded as high as $219.05 and last traded at $219.1480. 199,279 shares changed hands during mid-day trading, a decline of 16% from the average session volume of 237,430 shares. The stock had previously closed at $201.31.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Wall Street Zen upgraded shares of Boston Beer from a “sell” rating to a “hold” rating in a research report on Saturday, July 25th. UBS Group increased their price target on Boston Beer from $190.00 to $204.00 and gave the company a “neutral” rating in a research note on Friday, October 23rd. Royal Bank Of Canada cut their price objective on Boston Beer from $210.00 to $190.00 and set a “sector perform” rating on the stock in a report on Tuesday, October 6th. Morgan Stanley restated an “equal weight” rating on shares of Boston Beer in a research report on Tuesday, October 27th. Finally, Roth Capital restated a “buy” rating and set a $295.00 price target (down from $315.00) on shares of Boston Beer in a report on Friday, July 24th. One analyst has rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Reduce” and a consensus target price of $208.82.

Boston Beer Stock Performance

The business has a 50 day moving average price of $178.26 and a 200-day moving average price of $199.08. The company has a market capitalization of $2.32 billion, a price-to-earnings ratio of -33.49 and a beta of 0.81.

Boston Beer (NYSE:SAM) last released its earnings results on Thursday, October 22nd. The company reported $4.37 EPS for the quarter, topping the consensus estimate of $4.21 by $0.16. Boston Beer had a positive return on equity of 10.40% and a negative net margin of 3.59%. The business had revenue of $520.10 million during the quarter, compared to analysts’ expectations of $522.95 million. During the same quarter last year, the firm posted $4.25 earnings per share. The firm’s revenue was down 3.2% on a year-over-year basis. As a group, equities analysts predict that The Boston Beer Company, Inc. will post 9.50 EPS for the current fiscal year.

Institutional Trading of Boston Beer

Several hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP boosted its stake in Boston Beer by 6.1% during the first quarter. Dimensional Fund Advisors LP now owns 273,612 shares of the company’s stock worth $63,040,000 after acquiring an additional 15,611 shares in the last quarter. Quantinno Capital Management LP increased its stake in Boston Beer by 155.2% in the first quarter. Quantinno Capital Management LP now owns 230,587 shares of the company’s stock valued at $53,127,000 after purchasing an additional 140,247 shares in the last quarter. Renaissance Technologies LLC increased its stake in Boston Beer by 13.4% in the first quarter. Renaissance Technologies LLC now owns 93,779 shares of the company’s stock valued at $21,607,000 after purchasing an additional 11,100 shares in the last quarter. Calamos Advisors LLC raised its holdings in shares of Boston Beer by 2.1% during the first quarter. Calamos Advisors LLC now owns 66,749 shares of the company’s stock valued at $15,379,000 after purchasing an additional 1,385 shares during the period. Finally, First Trust Advisors LP raised its holdings in shares of Boston Beer by 34.8% during the first quarter. First Trust Advisors LP now owns 51,675 shares of the company’s stock valued at $11,906,000 after purchasing an additional 13,348 shares during the period. Institutional investors own 81.13% of the company’s stock.

Boston Beer Company Profile

Boston Beer Company, Inc is an American beverage company that develops, produces, and sells alcoholic beverages. The company is best known for its Samuel Adams craft beer brand, which includes Boston Lager and a range of seasonal, specialty, and limited-release beers.

Its portfolio also includes Twisted Tea hard iced tea, Truly Hard Seltzer, Angry Orchard hard cider, and beverages associated with Dogfish Head, which Boston Beer acquired in 2019. The company offers products across several categories, including beer, flavored malt beverages, hard seltzer, and hard cider, with offerings distributed primarily through wholesalers, retailers, restaurants, and other on-premise establishments.

Founded in 1984 by Jim Koch, Boston Beer helped expand the U.S.