StockNews.com Upgrades Boston Beer (NYSE:SAM) to “Buy”

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

A number of other research firms have also weighed in on SAM. Piper Sandler dropped their target price on Boston Beer from $240.00 to $230.00 and set a “neutral” rating on the stock in a report on Thursday, April 17th. Roth Mkm restated a “buy” rating and set a $349.00 price objective (down from $389.00) on shares of Boston Beer in a research note on Wednesday, February 26th. Citigroup upped their target price on shares of Boston Beer from $280.00 to $285.00 and gave the stock a “buy” rating in a research note on Monday, April 14th. Berenberg Bank assumed coverage on shares of Boston Beer in a report on Wednesday, April 2nd. They set a “hold” rating and a $281.10 price target on the stock. Finally, UBS Group lifted their target price on shares of Boston Beer from $265.00 to $279.00 and gave the stock a “neutral” rating in a research report on Thursday, April 17th. Nine investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $290.01.

Boston Beer Trading Up 2.9 %

NYSE SAM opened at $249.45 on Friday. The company has a market cap of $2.80 billion, a P/E ratio of 36.68, a PEG ratio of 1.23 and a beta of 1.26. The company has a fifty day simple moving average of $236.77 and a 200 day simple moving average of $268.87. Boston Beer has a 12-month low of $215.10 and a 12-month high of $339.77.

Boston Beer (NYSE:SAM) last issued its quarterly earnings data on Thursday, April 24th. The company reported $2.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $1.38. Boston Beer had a net margin of 3.82% and a return on equity of 11.76%. The firm had revenue of $481.36 million during the quarter, compared to analysts’ expectations of $436.27 million. Sell-side analysts predict that Boston Beer will post 9.29 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. T. Rowe Price Investment Management Inc. increased its holdings in Boston Beer by 4.4% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 703,480 shares of the company’s stock worth $211,030,000 after acquiring an additional 29,412 shares during the last quarter. AQR Capital Management LLC boosted its position in Boston Beer by 19.8% during the fourth quarter. AQR Capital Management LLC now owns 422,217 shares of the company’s stock worth $125,821,000 after purchasing an additional 69,778 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Boston Beer by 9.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 225,762 shares of the company’s stock worth $67,723,000 after purchasing an additional 19,063 shares in the last quarter. Fisher Asset Management LLC raised its position in shares of Boston Beer by 27.1% in the fourth quarter. Fisher Asset Management LLC now owns 160,419 shares of the company’s stock valued at $48,122,000 after purchasing an additional 34,176 shares during the period. Finally, Southernsun Asset Management LLC lifted its stake in shares of Boston Beer by 1.6% during the 4th quarter. Southernsun Asset Management LLC now owns 121,972 shares of the company’s stock valued at $36,589,000 after buying an additional 1,864 shares in the last quarter. Hedge funds and other institutional investors 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.