Boston Beer’s (SAM) “Sector Perform” Rating Reiterated at Royal Bank of Canada

Boston Beer (NYSE:SAM)‘s stock had its “sector perform” rating reiterated by research analysts at Royal Bank of Canada in a research report issued on Tuesday,Benzinga reports. They currently have a $279.00 target price on the stock. Royal Bank of Canada’s price objective points to a potential upside of 15.11% from the stock’s previous close.

Other equities analysts have also recently issued reports about the company. Piper Sandler lowered their price target on Boston Beer from $240.00 to $230.00 and set a “neutral” rating on the stock in a research report on Thursday, April 17th. Morgan Stanley cut their price target on shares of Boston Beer from $290.00 to $270.00 and set an “equal weight” rating for the company in a report on Wednesday, February 26th. Citigroup increased their target price on shares of Boston Beer from $280.00 to $285.00 and gave the company a “buy” rating in a research note on Monday, April 14th. Berenberg Bank assumed coverage on Boston Beer in a report on Wednesday, April 2nd. They issued a “hold” rating and a $281.10 price target on the stock. Finally, StockNews.com downgraded Boston Beer from a “buy” rating to a “hold” rating in a report on Wednesday, March 5th. Ten equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $290.01.

Boston Beer Trading Up 1.5 %

SAM stock traded up $3.55 during trading on Tuesday, hitting $242.37. The company had a trading volume of 10,154 shares, compared to its average volume of 171,297. Boston Beer has a fifty-two week low of $215.10 and a fifty-two week high of $339.77. The firm has a market capitalization of $2.73 billion, a price-to-earnings ratio of 35.64, a P/E/G ratio of 1.23 and a beta of 1.26. The business has a 50 day moving average of $235.66 and a 200 day moving average of $269.59.

Institutional Investors Weigh In On Boston Beer

A number of institutional investors and hedge funds have recently modified their holdings of the business. Blue Trust Inc. increased its stake in shares of Boston Beer by 405.6% in the 4th quarter. Blue Trust Inc. now owns 91 shares of the company’s stock valued at $26,000 after acquiring an additional 73 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in Boston Beer by 2,225.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 93 shares of the company’s stock worth $28,000 after buying an additional 89 shares during the period. GeoWealth Management LLC acquired a new position in Boston Beer in the fourth quarter valued at about $35,000. GAMMA Investing LLC increased its holdings in shares of Boston Beer by 59.3% in the fourth quarter. GAMMA Investing LLC now owns 129 shares of the company’s stock worth $39,000 after acquiring an additional 48 shares in the last quarter. Finally, First Horizon Advisors Inc. raised its position in shares of Boston Beer by 42.1% during the fourth quarter. First Horizon Advisors Inc. now owns 172 shares of the company’s stock worth $52,000 after purchasing an additional 51 shares during the period. 81.13% of the stock is 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.