UBS Group Cuts Boston Beer (NYSE:SAM) Price Target to $290.00

Boston Beer (NYSE:SAM) had its price objective dropped by investment analysts at UBS Group from $315.00 to $290.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. UBS Group’s price objective would suggest a potential upside of 14.74% from the stock’s current price.

Other equities analysts have also recently issued research reports about the stock. Citigroup reduced their price target on shares of Boston Beer from $335.00 to $290.00 and set a “neutral” rating on the stock in a research report on Wednesday. Piper Sandler lifted their target price on Boston Beer from $325.00 to $330.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. StockNews.com downgraded Boston Beer from a “buy” rating to a “hold” rating in a report on Wednesday. Needham & Company LLC initiated coverage on Boston Beer in a research note on Friday, December 6th. They set a “hold” rating on the stock. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $318.00 target price on shares of Boston Beer in a research note on Friday, October 25th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Boston Beer currently has an average rating of “Hold” and a consensus target price of $310.82.

Boston Beer Stock Performance

Shares of NYSE:SAM traded down $3.83 during trading on Thursday, hitting $252.74. The company’s stock had a trading volume of 124,369 shares, compared to its average volume of 189,189. Boston Beer has a fifty-two week low of $252.90 and a fifty-two week high of $371.65. The stock’s 50-day moving average price is $303.36 and its two-hundred day moving average price is $289.45. The company has a market capitalization of $2.90 billion, a PE ratio of 37.17, a PEG ratio of 0.81 and a beta of 1.08.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. First Horizon Advisors Inc. raised its position in shares of Boston Beer by 105.1% during the 3rd quarter. First Horizon Advisors Inc. now owns 121 shares of the company’s stock worth $35,000 after buying an additional 62 shares in the last quarter. Covestor Ltd increased its stake in shares of Boston Beer by 36.6% during the third quarter. Covestor Ltd now owns 127 shares of the company’s stock valued at $37,000 after acquiring an additional 34 shares during the period. GAMMA Investing LLC raised its holdings in Boston Beer by 59.3% during the fourth quarter. GAMMA Investing LLC now owns 129 shares of the company’s stock worth $39,000 after purchasing an additional 48 shares in the last quarter. True Wealth Design LLC acquired a new stake in Boston Beer in the third quarter worth approximately $47,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Boston Beer in the 3rd quarter worth $49,000. 81.13% of the stock is owned by institutional investors and hedge funds.

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.