Boston Beer (NYSE:SAM) Stock Rating Lowered by StockNews.com

StockNews.com lowered shares of Boston Beer (NYSE:SAM) from a buy rating to a hold rating in a research note published on Wednesday morning.

Several other analysts have also recently weighed in on SAM. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $318.00 target price on shares of Boston Beer in a report on Friday, October 25th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Boston Beer from $281.00 to $277.00 and set a “hold” rating on the stock in a report on Thursday, October 24th. UBS Group lifted their price objective on shares of Boston Beer from $300.00 to $309.00 in a research report on Thursday, October 24th. Roth Mkm reissued a “buy” rating and issued a $389.00 target price on shares of Boston Beer in a report on Wednesday, October 23rd. Finally, Needham & Company LLC initiated coverage on Boston Beer in a research note on Friday, December 6th. They issued a “hold” rating on the stock. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Boston Beer presently has a consensus rating of “Hold” and an average price target of $308.40.

Boston Beer Price Performance

Shares of NYSE SAM opened at $251.90 on Wednesday. The company has a market cap of $2.89 billion, a price-to-earnings ratio of 37.04, a price-to-earnings-growth ratio of 0.81 and a beta of 1.08. The stock’s 50-day moving average is $301.14 and its two-hundred day moving average is $288.84. Boston Beer has a 1-year low of $249.21 and a 1-year high of $371.65.

Institutional Trading of Boston Beer

Large investors have recently bought and sold shares of the business. First Horizon Advisors Inc. raised its holdings in shares of Boston Beer by 105.1% in the third quarter. First Horizon Advisors Inc. now owns 121 shares of the company’s stock valued at $35,000 after buying an additional 62 shares during the last quarter. Covestor Ltd increased its position in Boston Beer by 36.6% in the 3rd 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 increased its position in Boston Beer by 59.3% in the 4th quarter. GAMMA Investing LLC now owns 129 shares of the company’s stock valued at $39,000 after acquiring an additional 48 shares during the period. True Wealth Design LLC purchased a new stake in Boston Beer during the 3rd quarter valued at approximately $47,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Boston Beer during the 3rd quarter worth approximately $49,000. Institutional investors and hedge funds own 81.13% of the company’s stock.

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.