StockNews.com Upgrades Boston Beer (NYSE:SAM) to Buy

Boston Beer (NYSE:SAM) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Tuesday.

Other equities research analysts have also issued reports about the stock. Piper Sandler lifted their target price on shares of Boston Beer from $325.00 to $330.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Needham & Company LLC assumed coverage on Boston Beer in a research note on Friday, December 6th. They issued a “hold” rating on the stock. UBS Group lifted their price target on Boston Beer from $300.00 to $309.00 in a research note on Thursday, October 24th. Deutsche Bank Aktiengesellschaft reduced their price objective on Boston Beer from $281.00 to $277.00 and set a “hold” rating on the stock in a research report on Thursday, October 24th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $318.00 price target on shares of Boston Beer in a research report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $314.82.

Boston Beer Trading Down 3.1 %

Shares of SAM traded down $9.10 during mid-day trading on Tuesday, reaching $280.06. 228,332 shares of the stock traded hands, compared to its average volume of 183,433. The company has a market cap of $3.22 billion, a price-to-earnings ratio of 41.19, a price-to-earnings-growth ratio of 1.21 and a beta of 1.08. The firm has a fifty day moving average price of $307.31 and a 200 day moving average price of $290.95. Boston Beer has a 1 year low of $254.40 and a 1 year high of $371.65.

Hedge Funds Weigh In On Boston Beer

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Covestor Ltd grew its stake in Boston Beer by 36.6% during the third quarter. Covestor Ltd now owns 127 shares of the company’s stock valued at $37,000 after acquiring an additional 34 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Boston Beer by 59.3% during the fourth quarter. GAMMA Investing LLC now owns 129 shares of the company’s stock valued at $39,000 after purchasing an additional 48 shares in the last quarter. First Horizon Advisors Inc. lifted its position in shares of 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 buying an additional 62 shares in the last quarter. Great Valley Advisor Group Inc. boosted its stake in Boston Beer by 8.5% during the third quarter. Great Valley Advisor Group Inc. now owns 867 shares of the company’s stock valued at $251,000 after buying an additional 68 shares during the last quarter. Finally, National Bank of Canada FI grew its holdings in Boston Beer by 10.0% during the 3rd quarter. National Bank of Canada FI now owns 793 shares of the company’s stock valued at $229,000 after buying an additional 72 shares in the last quarter. 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.