Boston Beer (NYSE:SAM) Price Target Raised to $309.00

Boston Beer (NYSE:SAM) had its price target hoisted by equities research analysts at UBS Group from $300.00 to $309.00 in a research note issued on Thursday. UBS Group’s price objective points to a potential upside of 2.73% from the stock’s current price.

SAM has been the topic of several other reports. Piper Sandler cut their target price on shares of Boston Beer from $344.00 to $325.00 and set an “overweight” rating on the stock in a research note on Friday, July 26th. Roth Mkm reiterated a “buy” rating and issued a $389.00 target price on shares of Boston Beer in a report on Wednesday. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Boston Beer from $281.00 to $277.00 and set a “hold” rating for the company in a report on Thursday. Finally, Royal Bank of Canada cut their target price on shares of Boston Beer from $332.00 to $318.00 and set a “sector perform” rating for the company in a research report on Friday, July 26th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $322.58.

Boston Beer Stock Performance

SAM traded down $0.72 during trading on Thursday, reaching $300.79. The company had a trading volume of 100,120 shares, compared to its average volume of 158,683. The firm’s 50-day simple moving average is $279.01 and its 200 day simple moving average is $282.17. The company has a market cap of $3.53 billion, a price-to-earnings ratio of 39.34, a PEG ratio of 1.23 and a beta of 1.06. Boston Beer has a 12-month low of $254.40 and a 12-month high of $378.08.

Boston Beer (NYSE:SAM) last released its earnings results on Thursday, July 25th. The company reported $4.39 earnings per share for the quarter, missing the consensus estimate of $4.99 by ($0.60). The firm had revenue of $579.10 million during the quarter, compared to analysts’ expectations of $597.33 million. Boston Beer had a return on equity of 9.69% and a net margin of 4.39%. The business’s revenue was down 4.0% on a year-over-year basis. During the same period last year, the business earned $4.72 earnings per share. On average, sell-side analysts expect that Boston Beer will post 9.63 EPS for the current year.

Institutional Trading of Boston Beer

Institutional investors and hedge funds have recently made changes to their positions in the stock. LRI Investments LLC bought a new stake in Boston Beer during the first quarter worth approximately $28,000. ORG Partners LLC acquired a new stake in shares of Boston Beer in the second quarter worth $48,000. Sachetta LLC boosted its holdings in shares of Boston Beer by 1,533.3% during the 2nd quarter. Sachetta LLC now owns 245 shares of the company’s stock worth $68,000 after buying an additional 230 shares during the period. DekaBank Deutsche Girozentrale grew its stake in Boston Beer by 61.3% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 250 shares of the company’s stock valued at $75,000 after buying an additional 95 shares during the last quarter. Finally, Quarry LP raised its holdings in Boston Beer by 984.0% in the 2nd quarter. Quarry LP now owns 271 shares of the company’s stock worth $83,000 after acquiring an additional 246 shares during the period. Institutional investors and hedge funds own 81.13% of the company’s stock.

About Boston Beer

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.