Boston Beer (NYSE:SAM) Given New $309.00 Price Target at UBS Group

Boston Beer (NYSE:SAM) had its price target raised by UBS Group from $300.00 to $309.00 in a research report sent to investors on Thursday morning.

SAM has been the subject of several other research reports. Royal Bank of Canada cut their price objective on shares of Boston Beer from $332.00 to $318.00 and set a “sector perform” rating for the company in a research report on Friday, July 26th. Roth Mkm reiterated a “buy” rating and set a $389.00 price target on shares of Boston Beer in a research report on Wednesday, October 23rd. Piper Sandler lowered their price objective on shares of Boston Beer from $344.00 to $325.00 and set an “overweight” rating for the company in a research report on Friday, July 26th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on Boston Beer from $281.00 to $277.00 and set a “hold” rating on the stock in a report on Thursday. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Boston Beer has a consensus rating of “Hold” and a consensus target price of $314.82.

Boston Beer Trading Down 2.0 %

Shares of SAM stock opened at $295.96 on Thursday. The stock has a market cap of $3.54 billion, a P/E ratio of 37.13, a price-to-earnings-growth ratio of 1.23 and a beta of 1.06. Boston Beer has a 1 year low of $254.40 and a 1 year high of $372.61. The stock has a 50 day simple moving average of $279.71 and a 200 day simple moving average of $282.18.

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

Institutional Investors Weigh In On Boston Beer

Hedge funds have recently modified their holdings of the company. LRI Investments LLC bought a new position in Boston Beer in the first quarter valued at about $28,000. ORG Partners LLC acquired a new position in shares of Boston Beer in the second quarter valued at approximately $48,000. Sachetta LLC raised its holdings in Boston Beer by 1,533.3% in the 2nd quarter. Sachetta LLC now owns 245 shares of the company’s stock valued at $68,000 after buying an additional 230 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its position in Boston Beer by 61.3% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 250 shares of the company’s stock worth $75,000 after buying an additional 95 shares during the period. Finally, Quarry LP grew its holdings in Boston Beer by 984.0% during the 2nd quarter. Quarry LP now owns 271 shares of the company’s stock worth $83,000 after acquiring an additional 246 shares during the last quarter. Institutional investors and hedge funds 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.