Boston Beer (NYSE:SAM) Price Target Raised to $330.00

Boston Beer (NYSE:SAM) had its target price boosted by equities research analysts at Piper Sandler from $325.00 to $330.00 in a report released on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s price target indicates a potential upside of 10.82% from the company’s current price.

A number of other equities analysts have also recently commented on SAM. Roth Mkm reiterated a “buy” rating and issued a $389.00 target price on shares of Boston Beer in a report on Wednesday. Jefferies Financial Group lowered shares of 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 research note on Friday. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Boston Beer from $281.00 to $277.00 and set a “hold” rating on the stock in a research report on Thursday. UBS Group raised their target price on shares of Boston Beer from $300.00 to $309.00 in a report on Thursday. Finally, Royal Bank of Canada cut their price target on shares of Boston Beer from $332.00 to $318.00 and set a “sector perform” rating on the stock in a report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $320.08.

Boston Beer Stock Performance

SAM stock traded down $4.10 during trading on Friday, hitting $297.78. 137,239 shares of the company’s stock traded hands, compared to its average volume of 158,792. Boston Beer has a 52 week low of $254.40 and a 52 week high of $372.61. The stock has a market capitalization of $3.49 billion, a price-to-earnings ratio of 38.54, a P/E/G ratio of 1.23 and a beta of 1.06. The business has a fifty day simple moving average of $279.44 and a 200 day simple moving average of $282.31.

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

Hedge Funds Weigh In On Boston Beer

Several institutional investors have recently bought and sold shares of the business. LRI Investments LLC purchased a new stake in Boston Beer during the first quarter worth $28,000. ORG Partners LLC acquired a new stake in shares of Boston Beer in the 2nd quarter worth $48,000. Sachetta LLC grew its stake in Boston Beer by 1,533.3% during the 2nd quarter. Sachetta LLC now owns 245 shares of the company’s stock worth $68,000 after buying an additional 230 shares during the last quarter. DekaBank Deutsche Girozentrale increased its position in Boston Beer by 61.3% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 250 shares of the company’s stock valued at $75,000 after buying an additional 95 shares in the last quarter. Finally, Quarry LP raised its stake in Boston Beer by 984.0% in the second quarter. Quarry LP now owns 271 shares of the company’s stock valued at $83,000 after buying an additional 246 shares during the last quarter. 81.13% of the stock is owned by hedge funds and other 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.