Boston Beer (NYSE:SAM) Rating Lowered to “Neutral” at Piper Sandler

Boston Beer (NYSE:SAM) was downgraded by equities research analysts at Piper Sandler from an “overweight” rating to a “neutral” rating in a research note issued to investors on Thursday, Marketbeat Ratings reports. They currently have a $275.00 price target on the stock, down from their prior price target of $370.00. Piper Sandler’s target price suggests a potential upside of 9.89% from the stock’s current price.

A number of other equities research analysts have also recently issued reports on the company. Citigroup reduced their price objective on Boston Beer from $335.00 to $290.00 and set a “neutral” rating for the company in a report on Wednesday, January 15th. UBS Group reduced their price objective on Boston Beer from $315.00 to $290.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Deutsche Bank Aktiengesellschaft reduced their price objective on Boston Beer from $281.00 to $277.00 and set a “hold” rating for the company in a report on Thursday, October 24th. StockNews.com cut Boston Beer from a “buy” rating to a “hold” rating in a report on Wednesday, January 15th. Finally, Jefferies Financial Group cut Boston Beer from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $355.00 to $325.00 in a report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $302.90.

Boston Beer Stock Performance

Boston Beer stock opened at $250.25 on Thursday. Boston Beer has a 52 week low of $249.21 and a 52 week high of $371.65. The stock has a market capitalization of $2.87 billion, a P/E ratio of 36.80, a PEG ratio of 0.80 and a beta of 1.08. The stock has a 50-day simple moving average of $297.14 and a 200 day simple moving average of $287.83.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of SAM. Covestor Ltd grew its holdings in Boston Beer by 36.6% during the 3rd quarter. Covestor Ltd now owns 127 shares of the company’s stock worth $37,000 after acquiring an additional 34 shares during the period. GAMMA Investing LLC grew its holdings in Boston Beer by 59.3% during the 4th quarter. GAMMA Investing LLC now owns 129 shares of the company’s stock worth $39,000 after acquiring an additional 48 shares during the period. First Horizon Advisors Inc. grew its holdings in Boston Beer by 105.1% during the 3rd quarter. First Horizon Advisors Inc. now owns 121 shares of the company’s stock worth $35,000 after acquiring an additional 62 shares during the period. Exchange Traded Concepts LLC grew its holdings in Boston Beer by 2.5% during the 4th quarter. Exchange Traded Concepts LLC now owns 2,630 shares of the company’s stock worth $789,000 after acquiring an additional 65 shares during the period. Finally, Great Valley Advisor Group Inc. grew its holdings in Boston Beer by 8.5% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 867 shares of the company’s stock worth $251,000 after acquiring an additional 68 shares during the period. 81.13% of the stock is owned by institutional investors.

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.