Boston Beer (NYSE:SAM) Stock Rating Upgraded by StockNews.com

Boston Beer (NYSE:SAM) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Tuesday.

A number of other brokerages have also weighed in on SAM. Piper Sandler boosted their price objective on shares of Boston Beer from $325.00 to $330.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Roth Mkm reissued a “buy” rating and issued a $389.00 price target on shares of Boston Beer in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft reduced their price objective on Boston Beer from $281.00 to $277.00 and set a “hold” rating on the stock in a research note on Thursday, October 24th. Jefferies Financial Group lowered Boston Beer from a “buy” rating to a “hold” rating and lowered their target price for the company from $355.00 to $325.00 in a research note on Friday, October 25th. Finally, Needham & Company LLC began coverage on Boston Beer in a research report on Friday, December 6th. They set a “hold” rating on the stock. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $314.82.

Boston Beer Price Performance

NYSE:SAM opened at $275.81 on Tuesday. The company has a market capitalization of $3.17 billion, a price-to-earnings ratio of 40.56, a PEG ratio of 1.21 and a beta of 1.08. The business has a 50 day moving average of $306.83 and a 200 day moving average of $290.85. Boston Beer has a 1-year low of $254.40 and a 1-year high of $371.65.

Hedge Funds Weigh In On Boston Beer

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. D. E. Shaw & Co. Inc. increased its position in Boston Beer by 80.0% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 114,736 shares of the company’s stock valued at $35,000,000 after purchasing an additional 51,003 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Boston Beer by 17.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 182,972 shares of the company’s stock valued at $55,814,000 after purchasing an additional 26,538 shares in the last quarter. State Street Corp increased its position in shares of Boston Beer by 7.8% during the third quarter. State Street Corp now owns 292,643 shares of the company’s stock valued at $84,615,000 after buying an additional 21,276 shares during the period. Quantinno Capital Management LP raised its stake in Boston Beer by 647.7% in the third quarter. Quantinno Capital Management LP now owns 21,064 shares of the company’s stock worth $6,090,000 after buying an additional 18,247 shares in the last quarter. Finally, Verition Fund Management LLC lifted its holdings in Boston Beer by 582.6% in the third quarter. Verition Fund Management LLC now owns 19,693 shares of the company’s stock worth $5,694,000 after buying an additional 16,808 shares during the period. Institutional investors own 81.13% of the company’s stock.

About Boston Beer

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.