Boston Beer Company Inc (NYSE:SAM) Receives Consensus Rating of “Buy” from Brokerages

Shares of Boston Beer Company Inc (NYSE:SAM) have been given an average rating of “Buy” by the fifteen research firms that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and eight have assigned a buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $705.23.

Several equities research analysts have weighed in on SAM shares. Citigroup increased their target price on shares of Boston Beer from $815.00 to $1,015.00 and gave the stock a “buy” rating in a report on Wednesday, September 2nd. MKM Partners boosted their target price on Boston Beer from $353.00 to $780.00 and gave the company a “neutral” rating in a research note on Thursday, September 3rd. Royal Bank of Canada reaffirmed a “buy” rating and set a $635.00 price target on shares of Boston Beer in a research report on Monday, July 20th. Deutsche Bank increased their target price on Boston Beer from $540.00 to $656.00 and gave the stock a “hold” rating in a research note on Friday, July 24th. Finally, Credit Suisse Group lifted their price target on shares of Boston Beer from $505.00 to $625.00 and gave the company a “neutral” rating in a research note on Friday, July 24th.

NYSE SAM traded down $15.01 on Friday, reaching $859.37. The company had a trading volume of 4,129 shares, compared to its average volume of 163,239. Boston Beer has a 52 week low of $290.02 and a 52 week high of $897.50. The stock has a market cap of $10.68 billion, a price-to-earnings ratio of 78.49 and a beta of 1.00. The stock’s 50 day moving average is $837.19 and its 200-day moving average is $568.67.

Boston Beer (NYSE:SAM) last announced its quarterly earnings results on Thursday, July 23rd. The company reported $4.88 EPS for the quarter, beating analysts’ consensus estimates of $2.20 by $2.68. Boston Beer had a return on equity of 17.51% and a net margin of 9.18%. The company had revenue of $452.14 million during the quarter, compared to analysts’ expectations of $418.75 million. As a group, equities research analysts predict that Boston Beer will post 13.17 earnings per share for the current fiscal year.

In other Boston Beer news, Director Cynthia A. Fisher sold 681 shares of the business’s stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $565.00, for a total transaction of $384,765.00. Following the transaction, the director now owns 400 shares of the company’s stock, valued at approximately $226,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman C James Koch sold 1,116 shares of the company’s stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $566.95, for a total value of $632,716.20. The disclosure for this sale can be found here. Insiders sold a total of 75,981 shares of company stock worth $62,108,260 over the last quarter. Company insiders own 29.10% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its position in shares of Boston Beer by 0.6% in the 2nd quarter. Vanguard Group Inc. now owns 839,661 shares of the company’s stock valued at $450,605,000 after acquiring an additional 5,083 shares during the period. Wellington Management Group LLP increased its position in Boston Beer by 153.8% during the first quarter. Wellington Management Group LLP now owns 346,643 shares of the company’s stock worth $127,412,000 after buying an additional 210,065 shares during the last quarter. State Street Corp raised its stake in Boston Beer by 2.1% in the first quarter. State Street Corp now owns 280,439 shares of the company’s stock valued at $103,078,000 after buying an additional 5,697 shares during the period. Marshall Wace LLP lifted its position in shares of Boston Beer by 0.5% in the second quarter. Marshall Wace LLP now owns 165,867 shares of the company’s stock valued at $89,012,000 after buying an additional 893 shares during the last quarter. Finally, Champlain Investment Partners LLC increased its holdings in shares of Boston Beer by 56.4% in the first quarter. Champlain Investment Partners LLC now owns 146,950 shares of the company’s stock valued at $54,013,000 after purchasing an additional 53,015 shares during the last quarter. Institutional investors and hedge funds own 70.66% of the company’s stock.

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, and hard seltzers under the Samuel Adams, Twisted Tea, Angry Orchard Hard Cider, and Truly Hard Seltzer brand names.

Read More: CBOE Russell 2000® Volatility Index

Analyst Recommendations for Boston Beer (NYSE:SAM)

Receive News & Ratings for Boston Beer Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Boston Beer and related companies with MarketBeat.com's FREE daily email newsletter.