Boston Beer (NYSE:SAM) Price Target Increased to $309.00 by Analysts at UBS Group

Boston Beer (NYSE:SAM) had its price target hoisted by equities research analysts at UBS Group from $300.00 to $309.00 in a report released on Thursday. UBS Group’s price target indicates a potential upside of 2.73% from the stock’s previous close.

SAM has been the topic of several other research reports. Piper Sandler cut their price objective on Boston Beer from $344.00 to $325.00 and set an “overweight” rating on the stock in a research note on Friday, July 26th. Royal Bank of Canada dropped their price target on Boston Beer from $332.00 to $318.00 and set a “sector perform” rating on the stock in a research report on Friday, July 26th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Boston Beer from $281.00 to $277.00 and set a “hold” rating for the company in a report on Thursday. Finally, Roth Mkm reissued a “buy” rating and set a $389.00 target price on shares of Boston Beer in a report on Wednesday. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $322.58.

Boston Beer Price Performance

Shares of NYSE:SAM traded down $0.72 during midday trading on Thursday, reaching $300.79. The company had a trading volume of 100,120 shares, compared to its average volume of 158,683. Boston Beer has a one year low of $254.40 and a one year high of $378.08. The stock has a market capitalization of $3.53 billion, a P/E ratio of 39.34, a PEG ratio of 1.23 and a beta of 1.06. The stock’s fifty day moving average price is $279.01 and its 200-day moving average price is $282.17.

Boston Beer (NYSE:SAM) last issued its earnings results on Thursday, July 25th. The company reported $4.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.99 by ($0.60). Boston Beer had a net margin of 4.39% and a return on equity of 9.69%. The company had revenue of $579.10 million during the quarter, compared to analyst estimates of $597.33 million. During the same quarter last year, the company posted $4.72 EPS. The business’s revenue for the quarter was down 4.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Boston Beer will post 9.63 earnings per share for the current year.

Institutional Investors Weigh In On Boston Beer

A number of institutional investors have recently added to or reduced their stakes in the company. LRI Investments LLC acquired a new position in shares of Boston Beer during the 1st quarter valued at $28,000. Seven Eight Capital LP lifted its holdings in Boston Beer by 160.0% in the 1st quarter. Seven Eight Capital LP now owns 4,940 shares of the company’s stock valued at $1,504,000 after acquiring an additional 3,040 shares during the last quarter. Natixis bought a new position in shares of Boston Beer during the 1st quarter valued at about $3,044,000. Gamco Investors INC. ET AL grew its stake in shares of Boston Beer by 16.9% in the 1st quarter. Gamco Investors INC. ET AL now owns 13,333 shares of the company’s stock worth $4,059,000 after purchasing an additional 1,925 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Boston Beer by 2.3% in the 4th quarter. Vanguard Group Inc. now owns 918,502 shares of the company’s stock worth $317,425,000 after purchasing an additional 21,060 shares in the last quarter. 81.13% of the stock is currently owned by institutional investors and hedge funds.

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.