Boston Beer (NYSE:SAM) PT Raised to $325.00

Boston Beer (NYSE:SAM) had its target price upped by research analysts at Evercore ISI from $310.00 to $325.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has an “in-line” rating on the stock. Evercore ISI’s target price suggests a potential upside of 14.20% from the company’s current price.

SAM has been the topic of a number of other research reports. 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. Piper Sandler began coverage on Boston Beer in a research note on Friday, March 22nd. They set an “overweight” rating and a $350.00 price objective on the stock. Morgan Stanley reduced their target price on Boston Beer from $285.00 to $275.00 and set an “underweight” rating on the stock in a research report on Wednesday, February 28th. Roth Mkm increased their target price on Boston Beer from $406.00 to $422.00 and gave the stock a “buy” rating in a research report on Tuesday, January 23rd. Finally, Sanford C. Bernstein upgraded Boston Beer from an “underperform” rating to a “market perform” rating and raised their price objective for the stock from $280.00 to $335.00 in a report on Tuesday, January 16th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have given 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 $335.21.

Boston Beer Price Performance

Boston Beer stock traded down $2.67 during trading hours on Friday, hitting $284.60. The stock had a trading volume of 189,096 shares, compared to its average volume of 141,478. The stock has a market capitalization of $3.42 billion, a price-to-earnings ratio of 46.07, a PEG ratio of 1.20 and a beta of 1.02. Boston Beer has a 1-year low of $274.78 and a 1-year high of $395.52. The stock’s fifty day moving average is $306.46 and its two-hundred day moving average is $334.48.

Boston Beer (NYSE:SAM) last posted its earnings results on Thursday, April 25th. The company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.96. The company had revenue of $426.05 million for the quarter, compared to analyst estimates of $414.18 million. Boston Beer had a return on equity of 8.13% and a net margin of 3.61%. As a group, sell-side analysts anticipate that Boston Beer will post 9.9 EPS for the current year.

Insider Transactions at Boston Beer

In other news, insider Carolyn L. O’boyle sold 102 shares of the business’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $350.72, for a total value of $35,773.44. Following the sale, the insider now owns 2,630 shares of the company’s stock, valued at approximately $922,393.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Carolyn L. O’boyle sold 102 shares of Boston Beer stock in a transaction 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 transaction, the insider now owns 2,630 shares in the company, valued at $922,393.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Carolyn L. O’boyle sold 101 shares of Boston Beer stock in a transaction on Monday, April 1st. The shares were sold at an average price of $303.49, for a total value of $30,652.49. Following the transaction, the insider now owns 7,029 shares in the company, valued at approximately $2,133,231.21. The disclosure for this sale can be found here. Company insiders own 23.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of SAM. Armistice Capital LLC purchased a new position in Boston Beer in the fourth quarter valued at about $21,499,000. AQR Capital Management LLC lifted its position in shares of Boston Beer by 65.9% in the third quarter. AQR Capital Management LLC now owns 115,411 shares of the company’s stock worth $44,433,000 after buying an additional 45,864 shares during the last quarter. Norges Bank acquired a new stake in shares of Boston Beer in the fourth quarter worth about $13,879,000. Assenagon Asset Management S.A. lifted its position in shares of Boston Beer by 1,337.9% in the third quarter. Assenagon Asset Management S.A. now owns 32,727 shares of the company’s stock worth $12,748,000 after buying an additional 30,451 shares during the last quarter. Finally, Los Angeles Capital Management LLC acquired a new stake in shares of Boston Beer in the third quarter worth about $10,275,000. Hedge funds and other institutional investors own 81.13% of the company’s stock.

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.