Craft Brew Alliance (NASDAQ:BREW) Price Target Raised to $73.75

Craft Brew Alliance (NASDAQ:BREW) had its price target boosted by Zacks Investment Research to $73.75 in a research report released on Tuesday, 24/7 WallStreet reports.

BREW has been the topic of several other reports. Maxim Group cut their target price on shares of Craft Brew Alliance from $21.00 to $16.00 and set a buy rating on the stock in a research note on Friday, September 6th. BidaskClub lowered shares of Craft Brew Alliance from a hold rating to a sell rating in a research note on Thursday, August 15th. BMO Capital Markets cut their target price on shares of Craft Brew Alliance from $12.00 to $10.00 and set a market perform rating on the stock in a research note on Friday, September 6th. Finally, Cowen cut their target price on shares of Craft Brew Alliance from $23.00 to $14.00 in a research note on Thursday, September 5th. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company. Craft Brew Alliance currently has a consensus rating of Hold and an average target price of $26.55.

BREW opened at $9.13 on Tuesday. Craft Brew Alliance has a twelve month low of $8.75 and a twelve month high of $18.71. The company has a quick ratio of 0.83, a current ratio of 1.32 and a debt-to-equity ratio of 0.54. The company has a fifty day moving average of $12.66 and a 200-day moving average of $14.26. The stock has a market cap of $180.44 million, a PE ratio of 43.48 and a beta of 0.51.



Craft Brew Alliance (NASDAQ:BREW) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.13 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by ($0.03). Craft Brew Alliance had a negative return on equity of 1.13% and a negative net margin of 2.42%. The firm had revenue of $60.60 million for the quarter, compared to analyst estimates of $65.36 million. During the same quarter last year, the company earned $0.23 earnings per share. The company’s quarterly revenue was down 1.9% compared to the same quarter last year. Sell-side analysts anticipate that Craft Brew Alliance will post -0.28 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of Montreal Can boosted its stake in Craft Brew Alliance by 57.5% during the second quarter. Bank of Montreal Can now owns 2,092 shares of the company’s stock worth $29,000 after acquiring an additional 764 shares in the last quarter. Parametric Portfolio Associates LLC boosted its stake in Craft Brew Alliance by 5.7% during the second quarter. Parametric Portfolio Associates LLC now owns 16,910 shares of the company’s stock worth $237,000 after acquiring an additional 910 shares in the last quarter. Raymond James & Associates boosted its stake in Craft Brew Alliance by 0.8% during the first quarter. Raymond James & Associates now owns 157,197 shares of the company’s stock worth $2,198,000 after acquiring an additional 1,246 shares in the last quarter. Aperio Group LLC bought a new position in shares of Craft Brew Alliance in the second quarter valued at $27,000. Finally, Northern Trust Corp lifted its stake in shares of Craft Brew Alliance by 1.3% in the second quarter. Northern Trust Corp now owns 165,898 shares of the company’s stock valued at $2,322,000 after buying an additional 2,123 shares in the last quarter. 35.20% of the stock is currently owned by institutional investors and hedge funds.

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, Omission, Appalachian Mountain, Cisco, Redhook, Widmer Brothers, and Wynwood brands; and ciders under the Square Mile brand name.

Featured Story: What is a Real Estate Investment Trust (REIT)?

Get a free copy of the Zacks research report on Craft Brew Alliance (BREW)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Craft Brew Alliance Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Craft Brew Alliance and related companies with MarketBeat.com's FREE daily email newsletter.