Boston Beer (NYSE:SAM) Coverage Initiated by Analysts at Needham & Company LLC

Needham & Company LLC began coverage on shares of Boston Beer (NYSE:SAM) in a research report released on Friday, Marketbeat reports. The brokerage issued a hold rating on the stock.

Other analysts have also issued research reports about the stock. Deutsche Bank Aktiengesellschaft dropped 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 note on Thursday, October 24th. Jefferies Financial Group lowered shares of Boston Beer from a “buy” rating to a “hold” rating and cut their price objective for the stock from $355.00 to $325.00 in a report on Friday, October 25th. UBS Group raised their target price on Boston Beer from $300.00 to $309.00 in a research note on Thursday, October 24th. Roth Mkm reiterated a “buy” rating and issued a $389.00 price target on shares of Boston Beer in a research note on Wednesday, October 23rd. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $318.00 price objective on shares of Boston Beer in a research note on Friday, October 25th. One research 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 MarketBeat, Boston Beer has a consensus rating of “Hold” and a consensus target price of $314.82.

Boston Beer Price Performance

Shares of NYSE SAM opened at $314.81 on Friday. The company has a market capitalization of $3.61 billion, a price-to-earnings ratio of 46.30, a PEG ratio of 1.21 and a beta of 1.07. Boston Beer has a 1-year low of $254.40 and a 1-year high of $371.65. The business has a 50-day moving average of $300.11 and a 200-day moving average of $287.89.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. First Horizon Advisors Inc. lifted its holdings in Boston Beer by 105.1% in the third quarter. First Horizon Advisors Inc. now owns 121 shares of the company’s stock worth $35,000 after acquiring an additional 62 shares during the last quarter. Covestor Ltd boosted its position in Boston Beer by 36.6% during the 3rd quarter. Covestor Ltd now owns 127 shares of the company’s stock valued at $37,000 after purchasing an additional 34 shares during the period. ORG Partners LLC bought a new position in Boston Beer during the 2nd quarter worth $48,000. True Wealth Design LLC bought a new position in Boston Beer during the 3rd quarter worth $47,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Boston Beer in the third quarter worth $49,000. 81.13% of the stock is currently 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.