Susquehanna Bancshares Lowers Boston Beer (SAM) to Neutral

Susquehanna Bancshares downgraded shares of Boston Beer (NYSE:SAM) from a positive rating to a neutral rating in a report issued on Monday, November 13th, MarketBeat Ratings reports. They currently have $183.00 price target on the stock, down from their previous price target of $216.00.

Several other analysts have also issued reports on SAM. Zacks Investment Research upgraded shares of Boston Beer from a hold rating to a buy rating and set a $148.00 price target for the company in a research report on Monday, July 17th. Goldman Sachs Group downgraded shares of Boston Beer from a neutral rating to a sell rating and lowered their price objective for the company from $140.00 to $110.00 in a research note on Monday, July 24th. BidaskClub raised shares of Boston Beer from a sell rating to a hold rating in a research note on Monday, July 24th. Jefferies Group reaffirmed a hold rating on shares of Boston Beer in a research note on Thursday, September 7th. Finally, Macquarie began coverage on shares of Boston Beer in a research note on Thursday, September 14th. They set an underperform rating and a $140.00 price objective for the company. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company’s stock. Boston Beer has a consensus rating of Hold and a consensus price target of $149.80.

Boston Beer (SAM) opened at $182.25 on Monday. The company has a market cap of $2,140.00, a price-to-earnings ratio of 24.54, a PEG ratio of 5.92 and a beta of 0.57. Boston Beer has a 1 year low of $128.70 and a 1 year high of $183.50.

Boston Beer (NYSE:SAM) last posted its quarterly earnings results on Thursday, October 26th. The company reported $2.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.99 by $0.79. Boston Beer had a net margin of 9.97% and a return on equity of 21.11%. The business had revenue of $247.04 million during the quarter, compared to analyst estimates of $256.73 million. During the same period in the prior year, the business posted $2.48 earnings per share. The company’s revenue was down 2.5% on a year-over-year basis. analysts forecast that Boston Beer will post 6.08 EPS for the current year.

In other Boston Beer news, CMO Jonathan N. Potter sold 439 shares of the firm’s stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $171.90, for a total transaction of $75,464.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 31.30% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. increased its stake in shares of Boston Beer by 12,367.2% during the first quarter. BlackRock Inc. now owns 1,128,029 shares of the company’s stock valued at $163,169,000 after purchasing an additional 1,118,981 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Boston Beer by 2.0% during the second quarter. Vanguard Group Inc. now owns 748,951 shares of the company’s stock valued at $98,974,000 after purchasing an additional 14,951 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Boston Beer by 4.5% during the third quarter. Bank of New York Mellon Corp now owns 416,414 shares of the company’s stock valued at $65,044,000 after purchasing an additional 18,116 shares in the last quarter. American Century Companies Inc. increased its stake in shares of Boston Beer by 16.4% during the second quarter. American Century Companies Inc. now owns 333,995 shares of the company’s stock valued at $44,137,000 after purchasing an additional 47,027 shares in the last quarter. Finally, Fisher Asset Management LLC increased its stake in shares of Boston Beer by 5.2% during the third quarter. Fisher Asset Management LLC now owns 333,982 shares of the company’s stock valued at $52,168,000 after purchasing an additional 16,431 shares in the last quarter. 76.03% of the stock is owned by institutional investors and hedge funds.

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Boston Beer Company Profile

The Boston Beer Company, Inc is a craft brewer in the United States. The Company is engaged in the business of producing and selling alcohol beverages primarily in the domestic market and in selected international markets. The Company operates through two segments: Boston Beer Company segment, and A&S Brewing Collaborative segment.

Analyst Recommendations for Boston Beer (NYSE:SAM)

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