Craft Brew Alliance (NASDAQ:BREW) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.
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 equities analysts have also recently commented on BREW. BidaskClub cut Craft Brew Alliance from a “hold” rating to a “sell” rating in a research note on Tuesday, February 27th. ValuEngine raised Craft Brew Alliance from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. Stifel Nicolaus decreased their price target on Craft Brew Alliance from $21.00 to $18.00 and set a “hold” rating on the stock in a research note on Friday, May 11th. Susquehanna Bancshares set a $22.00 price target on Craft Brew Alliance and gave the stock a “buy” rating in a research note on Friday, May 11th. Finally, TheStreet raised Craft Brew Alliance from a “c+” rating to a “b-” rating in a research note on Monday, May 21st. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $20.50.
Craft Brew Alliance stock traded up $0.10 during trading hours on Thursday, reaching $19.75. The company had a trading volume of 76,200 shares, compared to its average volume of 74,375. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.53 and a quick ratio of 1.04. The stock has a market capitalization of $376.54 million, a P/E ratio of 141.07 and a beta of 0.46. Craft Brew Alliance has a 12-month low of $16.40 and a 12-month high of $20.40.
Craft Brew Alliance (NASDAQ:BREW) last announced its quarterly earnings results on Wednesday, May 9th. The company reported $0.01 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.03. The business had revenue of $47.49 million for the quarter, compared to analysts’ expectations of $43.86 million. Craft Brew Alliance had a return on equity of 3.62% and a net margin of 5.38%. The business’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.09) EPS. sell-side analysts expect that Craft Brew Alliance will post 0.41 earnings per share for the current fiscal year.
Several institutional investors and hedge funds have recently bought and sold shares of BREW. Schwab Charles Investment Management Inc. increased its stake in shares of Craft Brew Alliance by 45.1% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 23,500 shares of the company’s stock valued at $452,000 after buying an additional 7,300 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Craft Brew Alliance by 7.8% during the fourth quarter. Bank of New York Mellon Corp now owns 45,711 shares of the company’s stock valued at $878,000 after buying an additional 3,319 shares during the period. BlackRock Inc. increased its stake in shares of Craft Brew Alliance by 1.3% during the fourth quarter. BlackRock Inc. now owns 576,347 shares of the company’s stock valued at $11,067,000 after buying an additional 7,352 shares during the period. Deutsche Bank AG increased its stake in shares of Craft Brew Alliance by 6.8% during the fourth quarter. Deutsche Bank AG now owns 62,331 shares of the company’s stock valued at $1,195,000 after buying an additional 3,987 shares during the period. Finally, Stone Ridge Asset Management LLC purchased a new position in shares of Craft Brew Alliance during the fourth quarter valued at approximately $192,000. 35.67% of the stock is currently owned by hedge funds and other institutional investors.
About Craft Brew Alliance
Craft Brew Alliance, Inc brews and sells craft beers and ciders in the United States and internationally. It operates through two segments, Beer Related Operations and Brewpubs Operations. It offers beers under the Kona, Widmer Brothers, Redhook, and Omission brands; and ciders under the Square Mile brand name.
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