Boston Beer (NYSE:SAM) Given New $290.00 Price Target at UBS Group

Boston Beer (NYSE:SAM) had its target price reduced by research analysts at UBS Group from $315.00 to $290.00 in a report issued on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the stock. UBS Group’s price target would indicate a potential upside of 14.74% from the stock’s previous close.

A number of other brokerages have also recently commented on SAM. Citigroup lowered their target price on Boston Beer from $335.00 to $290.00 and set a “neutral” rating for the company in a report on Wednesday. Deutsche Bank Aktiengesellschaft reduced their price objective on Boston Beer from $281.00 to $277.00 and set a “hold” rating for the company in a research note on Thursday, October 24th. Royal Bank of Canada restated a “sector perform” rating and issued a $318.00 price target on shares of Boston Beer in a research report on Friday, October 25th. Needham & Company LLC assumed coverage on shares of Boston Beer in a research note on Friday, December 6th. They issued a “hold” rating for the company. Finally, Jefferies Financial Group lowered Boston Beer from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $355.00 to $325.00 in a report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $310.82.

Boston Beer Stock Down 1.5 %

Shares of Boston Beer stock traded down $3.83 during mid-day trading on Thursday, hitting $252.74. The stock had a trading volume of 124,369 shares, compared to its average volume of 189,189. The firm has a 50-day moving average of $303.36 and a two-hundred day moving average of $289.45. The firm has a market cap of $2.90 billion, a P/E ratio of 37.17, a price-to-earnings-growth ratio of 0.81 and a beta of 1.08. Boston Beer has a 12-month low of $252.90 and a 12-month high of $371.65.

Hedge Funds Weigh In On Boston Beer

Hedge funds have recently made changes to their positions in the stock. Aaron Wealth Advisors LLC raised its position in shares of Boston Beer by 12.0% in the 4th quarter. Aaron Wealth Advisors LLC now owns 1,273 shares of the company’s stock worth $382,000 after buying an additional 136 shares during the period. Kera Capital Partners Inc. purchased a new position in shares of Boston Beer in the 4th quarter worth about $256,000. Merit Financial Group LLC acquired a new position in shares of Boston Beer in the 4th quarter valued at about $434,000. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Boston Beer by 1.3% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 5,788 shares of the company’s stock worth $1,674,000 after purchasing an additional 74 shares during the period. Finally, GAMMA Investing LLC raised its holdings in Boston Beer by 59.3% in the fourth quarter. GAMMA Investing LLC now owns 129 shares of the company’s stock valued at $39,000 after buying an additional 48 shares during the period. Institutional investors and hedge funds own 81.13% of the company’s stock.

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.