The Boston Beer Company, Inc. (NYSE:SAM) Given Average Recommendation of “Hold” by Analysts

Shares of The Boston Beer Company, Inc. (NYSE:SAM) have received a consensus recommendation of “Hold” from the twelve ratings firms that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $314.82.

SAM has been the topic of a number of recent analyst reports. Royal Bank of Canada reiterated a “sector perform” rating and set a $318.00 price target on shares of Boston Beer in a report on Friday, October 25th. Jefferies Financial Group cut Boston Beer from a “buy” rating to a “hold” rating and lowered their target price for the stock from $355.00 to $325.00 in a research note on Friday, October 25th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Boston Beer from $281.00 to $277.00 and set a “hold” rating for the company in a research report on Thursday, October 24th. Piper Sandler lifted their price objective on shares of Boston Beer from $325.00 to $330.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Finally, StockNews.com raised shares of Boston Beer from a “hold” rating to a “buy” rating in a research report on Tuesday.

Institutional Investors Weigh In On Boston Beer

Several institutional investors have recently made changes to their positions in SAM. First Horizon Advisors Inc. grew its position in shares of Boston Beer by 105.1% in the third quarter. First Horizon Advisors Inc. now owns 121 shares of the company’s stock valued at $35,000 after purchasing an additional 62 shares in the last quarter. Covestor Ltd boosted its stake in Boston Beer by 36.6% in the 3rd quarter. Covestor Ltd now owns 127 shares of the company’s stock worth $37,000 after purchasing an additional 34 shares during the period. GAMMA Investing LLC grew its holdings in Boston Beer by 59.3% during the 4th quarter. GAMMA Investing LLC now owns 129 shares of the company’s stock valued at $39,000 after buying an additional 48 shares in the last quarter. True Wealth Design LLC bought a new stake in shares of Boston Beer during the third quarter valued at about $47,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Boston Beer in the third quarter worth about $49,000. Hedge funds and other institutional investors own 81.13% of the company’s stock.

Boston Beer Stock Down 3.1 %

Boston Beer stock opened at $280.06 on Friday. Boston Beer has a 52 week low of $254.40 and a 52 week high of $371.65. The company’s 50 day moving average price is $307.31 and its two-hundred day moving average price is $290.95. The stock has a market cap of $3.22 billion, a P/E ratio of 41.19, a P/E/G ratio of 1.21 and a beta of 1.08.

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.