Craft Brew Alliance (NASDAQ:BREW) Rating Lowered to Hold at Maxim Group

Maxim Group downgraded shares of Craft Brew Alliance (NASDAQ:BREW) from a buy rating to a hold rating in a research note released on Tuesday, The Fly reports. They currently have $16.50 price target on the stock, up from their previous price target of $16.00.

Other analysts have also issued reports about the stock. BMO Capital Markets dropped their price target on shares of Craft Brew Alliance from $12.00 to $10.00 and set a market perform rating on the stock in a research report on Friday, September 6th. Cowen dropped their price target on shares of Craft Brew Alliance from $23.00 to $14.00 in a research report on Thursday, September 5th. Zacks Investment Research raised shares of Craft Brew Alliance from a strong sell rating to a hold rating in a research report on Wednesday, November 6th. ValuEngine raised shares of Craft Brew Alliance from a sell rating to a hold rating in a research report on Wednesday, October 2nd. Finally, MKM Partners started coverage on shares of Craft Brew Alliance in a research report on Thursday, September 19th. They set a neutral rating and a $16.00 price target on the stock. One analyst has rated the stock with a sell rating and six have given a hold rating to the stock. The company has a consensus rating of Hold and an average target price of $23.38.

Shares of NASDAQ:BREW traded down $0.06 during trading on Tuesday, hitting $16.34. 1,184,000 shares of the company’s stock were exchanged, compared to its average volume of 457,467. The firm has a 50-day moving average price of $8.67 and a two-hundred day moving average price of $12.27. The company has a current ratio of 1.33, a quick ratio of 0.83 and a debt-to-equity ratio of 0.44. The firm has a market cap of $317.88 million, a P/E ratio of 77.81 and a beta of 0.51. Craft Brew Alliance has a 1-year low of $7.11 and a 1-year high of $17.40.

Craft Brew Alliance (NASDAQ:BREW) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.06) EPS for the quarter, missing the Zacks’ consensus estimate of $0.01 by ($0.07). The business had revenue of $50.30 million during the quarter, compared to the consensus estimate of $56.88 million. Craft Brew Alliance had a negative return on equity of 3.32% and a negative net margin of 3.10%. Craft Brew Alliance’s revenue was down 9.5% compared to the same quarter last year. As a group, research analysts predict that Craft Brew Alliance will post -0.28 EPS for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Monarch Partners Asset Management LLC bought a new stake in Craft Brew Alliance during the third quarter worth $253,000. First Trust Advisors LP bought a new stake in Craft Brew Alliance during the third quarter worth $213,000. California Public Employees Retirement System raised its position in Craft Brew Alliance by 3.4% during the third quarter. California Public Employees Retirement System now owns 43,626 shares of the company’s stock worth $357,000 after acquiring an additional 1,445 shares in the last quarter. Usca Ria LLC bought a new position in shares of Craft Brew Alliance in the third quarter valued at about $46,000. Finally, Rhumbline Advisers raised its position in shares of Craft Brew Alliance by 8.6% in the third quarter. Rhumbline Advisers now owns 18,785 shares of the company’s stock valued at $154,000 after purchasing an additional 1,482 shares during the period. 34.66% of the stock is currently owned by hedge funds and other institutional investors.

Craft Brew Alliance Company Profile

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.

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