Boston Beer (NYSE:SAM) Stock Rating Reaffirmed by Royal Bank of Canada

Royal Bank of Canada reiterated their sector perform rating on shares of Boston Beer (NYSE:SAM) in a report published on Friday, Benzinga reports. They currently have a $318.00 price target on the stock.

A number of other equities research analysts have also recently commented on SAM. UBS Group increased their target price on Boston Beer from $300.00 to $309.00 in a research note on Thursday. Deutsche Bank Aktiengesellschaft lowered their target price on Boston Beer from $281.00 to $277.00 and set a “hold” rating on the stock in a report on Thursday. Roth Mkm restated a “buy” rating and set a $389.00 price target on shares of Boston Beer in a research note on Wednesday. Jefferies Financial Group cut shares of Boston Beer from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $355.00 to $325.00 in a research note on Friday. Finally, Piper Sandler boosted their target price on shares of Boston Beer from $325.00 to $330.00 and gave the company an “overweight” rating in a research report on Friday. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $314.82.

Boston Beer Trading Down 2.0 %

Boston Beer stock traded down $5.92 on Friday, hitting $295.96. 341,052 shares of the stock traded hands, compared to its average volume of 159,857. The business’s fifty day simple moving average is $279.71 and its 200 day simple moving average is $282.30. The firm has a market cap of $3.47 billion, a P/E ratio of 38.74, a price-to-earnings-growth ratio of 1.23 and a beta of 1.06. Boston Beer has a 1 year low of $254.40 and a 1 year high of $372.61.

Boston Beer (NYSE:SAM) last posted its quarterly earnings data on Thursday, July 25th. The company reported $4.39 EPS for the quarter, missing the consensus estimate of $4.99 by ($0.60). Boston Beer had a return on equity of 9.69% and a net margin of 4.39%. The business had revenue of $579.10 million for the quarter, compared to the consensus estimate of $597.33 million. During the same period in the previous year, the firm earned $4.72 EPS. The company’s revenue was down 4.0% on a year-over-year basis. As a group, analysts predict that Boston Beer will post 9.63 earnings per share for the current year.

Institutional Trading of Boston Beer

A number of large investors have recently made changes to their positions in SAM. LRI Investments LLC purchased a new position in Boston Beer in the first quarter worth about $28,000. ORG Partners LLC purchased a new position in shares of Boston Beer in the 2nd quarter worth approximately $48,000. Sachetta LLC increased its position in shares of Boston Beer by 1,533.3% during the 2nd quarter. Sachetta LLC now owns 245 shares of the company’s stock valued at $68,000 after purchasing an additional 230 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its position in Boston Beer by 61.3% in the second quarter. DekaBank Deutsche Girozentrale now owns 250 shares of the company’s stock worth $75,000 after buying an additional 95 shares during the last quarter. Finally, Quarry LP boosted its stake in Boston Beer by 984.0% during the second quarter. Quarry LP now owns 271 shares of the company’s stock worth $83,000 after buying an additional 246 shares during the period. 81.13% of the stock is currently owned by institutional investors.

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.