Boston Beer (NYSE:SAM) Price Target Raised to $309.00 at UBS Group

Boston Beer (NYSE:SAM) had its price objective hoisted by UBS Group from $300.00 to $309.00 in a report released on Thursday morning.

SAM has been the topic of a number of other reports. Roth Mkm reissued a “buy” rating and issued a $389.00 price target on shares of Boston Beer in a report on Wednesday. Royal Bank of Canada decreased their price objective on shares of Boston Beer from $332.00 to $318.00 and set a “sector perform” rating on the stock in a research report on Friday, July 26th. Piper Sandler decreased their price objective on shares of Boston Beer from $344.00 to $325.00 and set an “overweight” rating on the stock in a research report on Friday, July 26th. Finally, Deutsche Bank Aktiengesellschaft decreased 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 report on Thursday. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $319.67.

Boston Beer Trading Down 1.9 %

Shares of Boston Beer stock traded down $5.68 on Thursday, reaching $296.20. The stock had a trading volume of 116,381 shares, compared to its average volume of 158,734. Boston Beer has a 1 year low of $254.40 and a 1 year high of $372.61. The company has a market cap of $3.47 billion, a P/E ratio of 37.39, a price-to-earnings-growth ratio of 1.23 and a beta of 1.06. The business’s 50 day moving average is $279.44 and its two-hundred day moving average is $282.31.

Boston Beer (NYSE:SAM) last announced its quarterly earnings results on Thursday, July 25th. The company reported $4.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.99 by ($0.60). Boston Beer had a return on equity of 9.69% and a net margin of 4.39%. The firm had revenue of $579.10 million during the quarter, compared to analysts’ expectations of $597.33 million. During the same period in the previous year, the company posted $4.72 earnings per share. The company’s quarterly revenue was down 4.0% compared to the same quarter last year. On average, equities analysts anticipate that Boston Beer will post 9.63 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. LRI Investments LLC bought a new position in Boston Beer during the first quarter valued at approximately $28,000. ORG Partners LLC purchased a new stake in shares of Boston Beer during the second quarter valued at approximately $48,000. Sachetta LLC boosted its stake in shares of Boston Beer by 1,533.3% during the second quarter. Sachetta LLC now owns 245 shares of the company’s stock valued at $68,000 after purchasing an additional 230 shares during the period. DekaBank Deutsche Girozentrale boosted its stake in shares of Boston Beer by 61.3% during the second quarter. DekaBank Deutsche Girozentrale now owns 250 shares of the company’s stock valued at $75,000 after purchasing an additional 95 shares during the period. Finally, Quarry LP boosted its stake in shares of Boston Beer by 984.0% during the second quarter. Quarry LP now owns 271 shares of the company’s stock valued at $83,000 after purchasing an additional 246 shares during the period. 81.13% of the stock is currently owned by institutional investors.

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, flavored malt beverages, and hard seltzers under the Samuel Adams, Twisted Tea, Truly, Angry Orchard, Dogfish Head, Angel City, and Coney Island brand names.