Craft Brew Alliance (NASDAQ:BREW) Downgraded to Market Perform at Cowen

Cowen lowered shares of Craft Brew Alliance (NASDAQ:BREW) from an outperform rating to a market perform rating in a research report released on Monday morning, Briefing.com Automated Import reports. The brokerage currently has $16.50 price objective on the stock.

A number of other research firms have also issued reports on BREW. Maxim Group lowered shares of Craft Brew Alliance from a buy rating to a hold rating and boosted their target price for the company from $16.00 to $16.50 in a research note on Tuesday, November 12th. Citigroup set a $10.00 target price on shares of Craft Brew Alliance and gave the company a hold rating in a research note on Tuesday, September 17th. MKM Partners started coverage on shares of Craft Brew Alliance in a research note on Thursday, September 19th. They set a neutral rating and a $16.00 target price for the company. BidaskClub lowered shares of Craft Brew Alliance from a hold rating to a sell rating in a research note on Thursday, August 15th. Finally, BMO Capital Markets reduced their target price on shares of Craft Brew Alliance from $12.00 to $10.00 and set a market perform rating for the company in a research note on Friday, September 6th. One equities research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the stock. Craft Brew Alliance has an average rating of Hold and a consensus target price of $23.79.

Craft Brew Alliance stock traded up $0.01 during midday trading on Monday, reaching $16.41. 675,300 shares of the stock traded hands, compared to its average volume of 157,060. The company has a current ratio of 1.33, a quick ratio of 0.82 and a debt-to-equity ratio of 0.44. The firm has a fifty day moving average price of $9.16 and a two-hundred day moving average price of $12.31. The firm has a market cap of $318.08 million, a price-to-earnings ratio of 78.14 and a beta of 0.51. Craft Brew Alliance has a fifty-two week low of $7.11 and a fifty-two week high of $17.40.

Craft Brew Alliance (NASDAQ:BREW) last posted its earnings results on Tuesday, November 12th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.07). The firm had revenue of $50.30 million for the quarter, compared to analyst estimates of $56.88 million. Craft Brew Alliance had a negative net margin of 3.10% and a negative return on equity of 3.32%. Craft Brew Alliance’s revenue for the quarter was down 9.5% on a year-over-year basis. Analysts anticipate that Craft Brew Alliance will post -0.28 earnings per share for the current year.

Several large investors have recently modified their holdings of BREW. Aperio Group LLC acquired a new stake in shares of Craft Brew Alliance in the 2nd quarter worth approximately $27,000. GSA Capital Partners LLP lifted its stake in shares of Craft Brew Alliance by 34.9% in the 2nd quarter. GSA Capital Partners LLP now owns 37,991 shares of the company’s stock worth $531,000 after acquiring an additional 9,836 shares during the period. Bank of Montreal Can lifted its stake in shares of Craft Brew Alliance by 57.5% in the 2nd quarter. Bank of Montreal Can now owns 2,092 shares of the company’s stock worth $29,000 after acquiring an additional 764 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Craft Brew Alliance by 18.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 56,613 shares of the company’s stock worth $792,000 after acquiring an additional 8,925 shares during the period. Finally, Northern Trust Corp lifted its stake in shares of Craft Brew Alliance by 1.3% in the 2nd quarter. Northern Trust Corp now owns 165,898 shares of the company’s stock worth $2,322,000 after acquiring an additional 2,123 shares during the period. 42.84% of the stock is owned by 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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Analyst Recommendations for Craft Brew Alliance (NASDAQ:BREW)

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