Boston Beer (NYSE:SAM) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Boston Beer (NYSE:SAM) from a hold rating to a buy rating in a research note released on Tuesday.

SAM has been the subject of a number of other research reports. Piper Sandler lifted their price target on Boston Beer from $325.00 to $330.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Roth Mkm reiterated a “buy” rating and set a $389.00 price target on shares of Boston Beer in a report on Wednesday, October 23rd. UBS Group raised their price objective on Boston Beer from $300.00 to $309.00 in a research note on Thursday, October 24th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $318.00 target price on shares of Boston Beer in a research note on Friday, October 25th. Finally, Jefferies Financial Group downgraded shares of 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 report on Friday, October 25th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $314.82.

Boston Beer Trading Down 1.9 %

Boston Beer stock opened at $275.81 on Tuesday. The firm has a market capitalization of $3.17 billion, a price-to-earnings ratio of 40.56, a price-to-earnings-growth ratio of 1.21 and a beta of 1.08. The firm’s fifty day moving average price is $306.53 and its two-hundred day moving average price is $290.74. Boston Beer has a 1-year low of $254.40 and a 1-year high of $371.65.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. D. E. Shaw & Co. Inc. boosted its position in Boston Beer by 80.0% during the second quarter. D. E. Shaw & Co. Inc. now owns 114,736 shares of the company’s stock worth $35,000,000 after purchasing an additional 51,003 shares during the period. Dimensional Fund Advisors LP lifted 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 buying an additional 26,538 shares in the last quarter. State Street Corp boosted its holdings in Boston Beer by 7.8% in the 3rd quarter. State Street Corp now owns 292,643 shares of the company’s stock worth $84,615,000 after buying an additional 21,276 shares during the period. Quantinno Capital Management LP grew its stake in Boston Beer by 647.7% in the 3rd quarter. Quantinno Capital Management LP now owns 21,064 shares of the company’s stock valued at $6,090,000 after buying an additional 18,247 shares in the last quarter. Finally, Verition Fund Management LLC raised its holdings in Boston Beer by 582.6% during the 3rd quarter. Verition Fund Management LLC now owns 19,693 shares of the company’s stock valued at $5,694,000 after acquiring an additional 16,808 shares during the period. 81.13% of the stock is owned by institutional investors.

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.