Boston Beer’s (SAM) Buy Rating Reiterated at Roth Mkm

Boston Beer (NYSE:SAM)‘s stock had its “buy” rating restated by investment analysts at Roth Mkm in a research report issued on Wednesday,Benzinga reports. They presently have a $349.00 target price on the stock, down from their previous target price of $389.00. Roth Mkm’s price objective would indicate a potential upside of 43.23% from the stock’s previous close.

A number of other brokerages have also issued reports on SAM. Citigroup dropped their target price on Boston Beer from $335.00 to $290.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 15th. Morgan Stanley reduced their target price on shares of Boston Beer from $290.00 to $270.00 and set an “equal weight” rating for the company in a report on Wednesday. UBS Group decreased their target price on shares of Boston Beer from $315.00 to $290.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Piper Sandler cut shares of Boston Beer from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $370.00 to $275.00 in a research report on Thursday, January 23rd. Finally, Needham & Company LLC began coverage on Boston Beer in a report on Friday, December 6th. They issued a “hold” rating for the company. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Boston Beer has a consensus rating of “Hold” and an average target price of $293.40.

Boston Beer Trading Up 1.0 %

SAM stock opened at $243.67 on Wednesday. The stock has a 50-day moving average price of $258.51 and a two-hundred day moving average price of $280.52. Boston Beer has a 1 year low of $222.27 and a 1 year high of $339.77. The stock has a market cap of $2.80 billion, a PE ratio of 35.83, a price-to-earnings-growth ratio of 1.23 and a beta of 1.06.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Entropy Technologies LP bought a new position in Boston Beer during the fourth quarter worth $368,000. Legato Capital Management LLC acquired a new stake in shares of Boston Beer during the 4th quarter worth about $1,966,000. Merit Financial Group LLC acquired a new position in Boston Beer in the 4th quarter valued at about $434,000. Point72 Hong Kong Ltd bought a new position in Boston Beer in the 3rd quarter valued at about $1,746,000. Finally, Barclays PLC lifted its position in Boston Beer by 44.2% during the third quarter. Barclays PLC now owns 12,988 shares of the company’s stock worth $3,753,000 after acquiring an additional 3,983 shares during the last quarter. 81.13% of the stock is currently owned by institutional investors.

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.