Boston Beer (NYSE:SAM) Given New $315.00 Price Target at Citigroup

Boston Beer (NYSE:SAM) had its target price cut by stock analysts at Citigroup from $350.00 to $315.00 in a research note issued on Tuesday, Benzinga reports. The firm presently has a “neutral” rating on the stock. Citigroup’s price objective would suggest a potential upside of 12.10% from the company’s current price.

Several other analysts have also recently issued reports on SAM. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $337.00 price objective on shares of Boston Beer in a research note on Wednesday, February 28th. The Goldman Sachs Group dropped their price objective on shares of Boston Beer from $257.00 to $250.00 and set a “sell” rating for the company in a research note on Tuesday, April 9th. Sanford C. Bernstein raised shares of Boston Beer from an “underperform” rating to a “market perform” rating and upped their price objective for the company from $280.00 to $335.00 in a research note on Tuesday, January 16th. UBS Group dropped their price objective on shares of Boston Beer from $390.00 to $355.00 and set a “neutral” rating for the company in a research note on Wednesday, February 28th. Finally, Roth Mkm increased their price target on shares of Boston Beer from $406.00 to $422.00 and gave the company a “buy” rating in a research note on Tuesday, January 23rd. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $334.86.

Boston Beer Stock Performance

Shares of Boston Beer stock opened at $281.01 on Tuesday. The firm has a 50-day simple moving average of $316.06 and a two-hundred day simple moving average of $338.72. The company has a market cap of $3.38 billion, a P/E ratio of 45.32, a price-to-earnings-growth ratio of 1.03 and a beta of 1.02. Boston Beer has a fifty-two week low of $280.77 and a fifty-two week high of $395.52.

Boston Beer (NYSE:SAM) last released its quarterly earnings results on Tuesday, February 27th. The company reported ($1.49) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($1.27). Boston Beer had a return on equity of 8.13% and a net margin of 3.61%. The company had revenue of $393.72 million for the quarter, compared to analyst estimates of $413.57 million. During the same quarter last year, the company earned ($0.93) EPS. The firm’s revenue for the quarter was down 12.0% on a year-over-year basis. Equities research analysts forecast that Boston Beer will post 9.98 EPS for the current year.

Insider Buying and Selling

In related news, insider Carolyn L. O’boyle sold 101 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $303.49, for a total transaction of $30,652.49. Following the completion of the transaction, the insider now owns 7,029 shares of the company’s stock, valued at approximately $2,133,231.21. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Boston Beer news, insider Carolyn L. O’boyle sold 101 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $303.49, for a total transaction of $30,652.49. Following the sale, the insider now directly owns 7,029 shares in the company, valued at approximately $2,133,231.21. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Carolyn L. O’boyle sold 102 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $350.72, for a total transaction of $35,773.44. Following the sale, the insider now owns 2,630 shares in the company, valued at $922,393.60. The disclosure for this sale can be found here. 24.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Boston Beer

Hedge funds have recently added to or reduced their stakes in the business. Covestor Ltd lifted its holdings in Boston Beer by 88.4% during the 3rd quarter. Covestor Ltd now owns 81 shares of the company’s stock worth $32,000 after buying an additional 38 shares in the last quarter. Eagle Bay Advisors LLC acquired a new stake in shares of Boston Beer in the 2nd quarter valued at $32,000. Main Street Group LTD acquired a new stake in shares of Boston Beer in the 4th quarter valued at $35,000. Quarry LP acquired a new stake in shares of Boston Beer in the 4th quarter valued at $42,000. Finally, KBC Group NV acquired a new stake in shares of Boston Beer in the 4th quarter valued at $46,000. 81.13% of the stock is currently owned by institutional investors and hedge funds.

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.