Craft Brew Alliance, Inc. (NASDAQ:BREW) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Tuesday, October 17th. The firm currently has a $21.00 price objective on the stock. Zacks Investment Research‘s price objective would indicate a potential upside of 21.04% from the company’s current price.
According to Zacks, “Craft Brew Alliance Inc. is engaged in the business of brewing, marketing and selling of craft beers in the United States. The Company operates in two segments: Beer Related operations and Pubs and Other. Craft Brew owns and operates production breweries with adjacent restaurants or pubs in Portland, Oregon, Woodinville, Washington and Portsmouth, New Hampshire and in Kona, Hawaii. It offers its beer products under the Widmer Brothers, Redhook and Kona Brewing brand names. Craft Brew Alliance Inc., formerly known as Craft Brewers Alliance, Inc., is headquartered in Portland, Oregon. “
A number of other research firms have also recently issued reports on BREW. BidaskClub raised Craft Brew Alliance from a “hold” rating to a “buy” rating in a research report on Wednesday, August 9th. Cowen and Company reaffirmed an “outperform” rating and set a $20.00 price target (up previously from $19.00) on shares of Craft Brew Alliance in a research report on Wednesday, August 9th. ValuEngine downgraded Craft Brew Alliance from a “hold” rating to a “sell” rating in a report on Saturday, August 26th. Finally, Susquehanna Bancshares Inc initiated coverage on Craft Brew Alliance in a report on Monday, October 2nd. They issued a “positive” rating and a $22.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Craft Brew Alliance currently has an average rating of “Buy” and a consensus price target of $21.00.
Shares of Craft Brew Alliance (BREW) traded down $0.15 during trading hours on Tuesday, reaching $17.35. The company’s stock had a trading volume of 31,339 shares, compared to its average volume of 51,194. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.52 and a quick ratio of 1.19. The company has a market cap of $337.64, a PE ratio of 350.00 and a beta of 0.48. Craft Brew Alliance has a 12-month low of $12.00 and a 12-month high of $19.20.
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Hedge funds and other institutional investors have recently modified their holdings of the stock. American International Group Inc. grew its position in Craft Brew Alliance by 7.0% in the first quarter. American International Group Inc. now owns 7,778 shares of the company’s stock valued at $104,000 after acquiring an additional 510 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in Craft Brew Alliance by 15.3% in the second quarter. The Manufacturers Life Insurance Company now owns 12,325 shares of the company’s stock valued at $207,000 after acquiring an additional 1,638 shares during the last quarter. Perkins Capital Management Inc. boosted its stake in shares of Craft Brew Alliance by 0.8% during the second quarter. Perkins Capital Management Inc. now owns 12,550 shares of the company’s stock valued at $211,000 after purchasing an additional 100 shares in the last quarter. Parametric Portfolio Associates LLC boosted its stake in shares of Craft Brew Alliance by 2.9% during the first quarter. Parametric Portfolio Associates LLC now owns 16,906 shares of the company’s stock valued at $226,000 after purchasing an additional 476 shares in the last quarter. Finally, Goldman Sachs Group Inc. acquired a new stake in shares of Craft Brew Alliance during the first quarter valued at about $297,000. Institutional investors own 32.21% of the company’s stock.
Craft Brew Alliance Company Profile
Craft Brew Alliance, Inc is a craft brewing company that is engaged in brewing, branding and bringing to market American craft beers. The Company operates through two segments: Beer Related operations, which include the brewing operations and related domestic and international beer and cider sales of its Kona, Widmer Brothers, Redhook and Omission beer brands, and Square Mile cider brand, and Pubs operations, which include its approximately five pubs, over four of which are located adjacent to its Beer Related operations, as well as other merchandise sales, and sales of its beers directly to customers.
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