Boston Beer (NYSE:SAM) PT Raised to $330.00 at Piper Sandler

Boston Beer (NYSE:SAM) had its price objective hoisted by Piper Sandler from $325.00 to $330.00 in a research report report published on Friday morning, Benzinga reports. They currently have an overweight rating on the stock.

SAM has been the subject of a number of other research reports. Royal Bank of Canada reduced 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. Jefferies Financial Group cut Boston Beer from a “buy” rating to a “hold” rating and reduced their price target for the company from $355.00 to $325.00 in a report on Friday. Roth Mkm restated a “buy” rating and issued a $389.00 price target on shares of Boston Beer in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft cut their price objective on Boston Beer from $281.00 to $277.00 and set a “hold” rating for the company in a research report on Thursday. Finally, UBS Group boosted their target price on shares of Boston Beer from $300.00 to $309.00 in a research report on Thursday. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $314.82.

Boston Beer Price Performance

Shares of NYSE SAM opened at $295.96 on Friday. The stock has a fifty day moving average price of $279.71 and a 200 day moving average price of $282.18. 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 $3.54 billion, a PE ratio of 37.13, a P/E/G ratio of 1.23 and a beta of 1.06.

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

Institutional Investors Weigh In On Boston Beer

Several institutional investors and hedge funds have recently made changes to their positions in the business. LRI Investments LLC acquired a new position in Boston Beer during the first quarter worth about $28,000. ORG Partners LLC acquired a new position in shares of Boston Beer during the 2nd quarter worth approximately $48,000. Sachetta LLC lifted its stake 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 in the last quarter. DekaBank Deutsche Girozentrale grew its holdings in Boston Beer by 61.3% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 250 shares of the company’s stock valued at $75,000 after buying an additional 95 shares during the last quarter. Finally, Quarry LP increased its position in Boston Beer by 984.0% during the second quarter. Quarry LP now owns 271 shares of the company’s stock worth $83,000 after buying an additional 246 shares in the last quarter. 81.13% of the stock is currently owned by hedge funds and other 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.