Zacks Investment Research Lowers Craft Brew Alliance (NASDAQ:BREW) to Hold

Zacks Investment Research cut shares of Craft Brew Alliance (NASDAQ:BREW) from a strong-buy rating to a hold rating in a research note issued to investors on Monday, Zacks.com reports.

According to Zacks, “Craft Brew Alliance Inc. is engaged in the business of brewing, marketing and selling of craft beers in the United States. The Company operates in two segments: Beer Related operations and Pubs and Other. Craft Brew owns and operates production breweries with adjacent restaurants or pubs in Portland, Oregon, Woodinville, Washington and Portsmouth, New Hampshire and in Kona, Hawaii. It offers its beer products under the Widmer Brothers, Redhook and Kona Brewing brand names. Craft Brew Alliance Inc., formerly known as Craft Brewers Alliance, Inc., is headquartered in Portland, Oregon. “

Other research analysts have also issued research reports about the company. TheStreet lowered Craft Brew Alliance from a c- rating to a d rating in a report on Wednesday, April 1st. BidaskClub lowered Craft Brew Alliance from a sell rating to a strong sell rating in a report on Saturday, May 30th. Finally, MKM Partners lifted their price target on Craft Brew Alliance from $16.00 to $16.50 and gave the stock a buy rating in a report on Wednesday, March 18th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company. Craft Brew Alliance has an average rating of Hold and an average target price of $14.42.

Shares of BREW opened at $14.90 on Monday. Craft Brew Alliance has a 52-week low of $7.11 and a 52-week high of $16.61. The company has a quick ratio of 0.75, a current ratio of 1.39 and a debt-to-equity ratio of 0.56. The firm’s fifty day moving average is $15.32 and its two-hundred day moving average is $15.50.

Craft Brew Alliance (NASDAQ:BREW) last announced its earnings results on Wednesday, May 6th. The company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.07. Craft Brew Alliance had a negative net margin of 2.47% and a negative return on equity of 5.09%. The company had revenue of $43.90 million for the quarter. As a group, analysts forecast that Craft Brew Alliance will post -0.21 EPS for the current year.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Gabelli Funds LLC raised its holdings in Craft Brew Alliance by 6.6% in the 1st quarter. Gabelli Funds LLC now owns 1,393,678 shares of the company’s stock valued at $20,766,000 after buying an additional 86,596 shares during the period. State Street Corp raised its holdings in Craft Brew Alliance by 4.1% in the 4th quarter. State Street Corp now owns 251,545 shares of the company’s stock valued at $4,150,000 after buying an additional 9,883 shares during the period. GABELLI & Co INVESTMENT ADVISERS INC. raised its holdings in Craft Brew Alliance by 30.5% in the 1st quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 236,385 shares of the company’s stock valued at $3,522,000 after buying an additional 55,300 shares during the period. Geode Capital Management LLC raised its holdings in Craft Brew Alliance by 8.5% in the 1st quarter. Geode Capital Management LLC now owns 183,076 shares of the company’s stock valued at $2,727,000 after buying an additional 14,298 shares during the period. Finally, Goldman Sachs Group Inc. raised its holdings in Craft Brew Alliance by 209.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 148,442 shares of the company’s stock valued at $2,449,000 after buying an additional 100,469 shares during the period. Hedge funds and other institutional investors own 58.92% of the company’s stock.

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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