Roth Mkm Reaffirms “Buy” Rating for Boston Beer (NYSE:SAM)

Roth Mkm reissued their buy rating on shares of Boston Beer (NYSE:SAM) in a research note published on Wednesday,Benzinga reports. They currently have a $349.00 price target on the stock, down from their previous price target of $389.00.

SAM has been the subject of a number of other research reports. UBS Group dropped their price objective on Boston Beer from $315.00 to $290.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Morgan Stanley dropped their price objective on Boston Beer from $290.00 to $270.00 and set an “equal weight” rating for the company in a report on Wednesday. StockNews.com upgraded Boston Beer from a “hold” rating to a “buy” rating in a report on Tuesday. Citigroup decreased their target price on Boston Beer from $335.00 to $290.00 and set a “neutral” rating for the company in a research report on Wednesday, January 15th. Finally, Needham & Company LLC initiated coverage on Boston Beer in a report on Friday, December 6th. They issued a “hold” rating for the company. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $293.40.

Boston Beer Stock Up 2.8 %

SAM opened at $240.91 on Wednesday. The business has a fifty day moving average of $259.81 and a 200 day moving average of $280.78. Boston Beer has a 52-week low of $222.27 and a 52-week high of $371.65. The stock has a market cap of $2.77 billion, a P/E ratio of 35.43, a PEG ratio of 1.23 and a beta of 1.06.

Institutional Investors Weigh In On Boston Beer

Several hedge funds have recently made changes to their positions in SAM. Blue Trust Inc. lifted its stake in shares of Boston Beer by 405.6% during the 4th quarter. Blue Trust Inc. now owns 91 shares of the company’s stock worth $26,000 after purchasing an additional 73 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Boston Beer by 2,225.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 93 shares of the company’s stock worth $28,000 after purchasing an additional 89 shares during the last quarter. First Horizon Advisors Inc. lifted its stake 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 purchasing an additional 62 shares during the last quarter. GeoWealth Management LLC purchased a new stake in shares of Boston Beer during the 4th quarter worth $35,000. Finally, Covestor Ltd lifted its stake in shares of Boston Beer by 36.6% during the 3rd quarter. Covestor Ltd now owns 127 shares of the company’s stock worth $37,000 after purchasing an additional 34 shares during the last quarter. 81.13% of the stock is currently owned by hedge funds and other institutional investors.

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.