Boston Beer (NYSE:SAM) Given “Sector Perform” Rating at Royal Bank of Canada

Boston Beer (NYSE:SAM)‘s stock had its “sector perform” rating restated by stock analysts at Royal Bank of Canada in a research note issued to investors on Friday, Benzinga reports. They presently have a $318.00 target price on the stock. Royal Bank of Canada’s price target would suggest a potential upside of 7.45% from the company’s previous close.

A number of other equities research analysts have also commented on the company. Deutsche Bank Aktiengesellschaft lowered their price target on Boston Beer from $281.00 to $277.00 and set a “hold” rating for the company in a research report on Thursday. Piper Sandler increased their price target on Boston Beer from $325.00 to $330.00 and gave the company an “overweight” rating in a research report on Friday. Jefferies Financial Group lowered Boston Beer from a “buy” rating to a “hold” rating and lowered their price target for the company from $355.00 to $325.00 in a research report on Friday. Roth Mkm reaffirmed a “buy” rating and set a $389.00 target price on shares of Boston Beer in a research report on Wednesday. Finally, UBS Group raised their target price on Boston Beer from $300.00 to $309.00 in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Boston Beer has a consensus rating of “Hold” and an average price target of $314.82.

Boston Beer Stock Down 2.0 %

Shares of SAM opened at $295.96 on Friday. Boston Beer has a 12-month low of $254.40 and a 12-month high of $372.61. The business’s fifty day moving average is $279.71 and its 200 day moving average is $282.24. The stock has a market cap of $3.47 billion, a P/E ratio of 38.74, a P/E/G ratio of 1.23 and a beta of 1.06.

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

Institutional Investors Weigh In On Boston Beer

Large investors have recently added to or reduced their stakes in the company. LRI Investments LLC purchased a new stake in Boston Beer in the 1st quarter worth about $28,000. ORG Partners LLC bought a new position in Boston Beer in the 2nd quarter worth about $48,000. Sachetta LLC boosted its stake in Boston Beer by 1,533.3% in the 2nd quarter. Sachetta LLC now owns 245 shares of the company’s stock worth $68,000 after purchasing an additional 230 shares during the period. DekaBank Deutsche Girozentrale boosted its stake in Boston Beer by 61.3% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 250 shares of the company’s stock worth $75,000 after purchasing an additional 95 shares during the period. Finally, Quarry LP boosted its stake in Boston Beer by 984.0% in the 2nd quarter. Quarry LP now owns 271 shares of the company’s stock worth $83,000 after purchasing an additional 246 shares during the period. Hedge funds and other institutional investors own 81.13% 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, flavored malt beverages, and hard seltzers under the Samuel Adams, Twisted Tea, Truly, Angry Orchard, Dogfish Head, Angel City, and Coney Island brand names.