UBS Group Forecasts Strong Price Appreciation for Boston Beer (NYSE:SAM) Stock

Boston Beer (NYSE:SAM) had its price objective lifted by investment analysts at UBS Group from $265.00 to $279.00 in a report released on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the stock. UBS Group’s price target would suggest a potential upside of 15.86% from the stock’s current price.

A number of other equities research analysts have also recently commented on the company. StockNews.com cut Boston Beer from a “buy” rating to a “hold” rating in a research report on Wednesday, March 5th. Citigroup upped their price objective on shares of Boston Beer from $280.00 to $285.00 and gave the company a “buy” rating in a research note on Monday. Piper Sandler cut their price target on Boston Beer from $240.00 to $230.00 and set a “neutral” rating for the company in a report on Thursday. Roth Mkm reissued a “buy” rating and set a $349.00 price objective (down previously from $389.00) on shares of Boston Beer in a research note on Wednesday, February 26th. Finally, Berenberg Bank started coverage on shares of Boston Beer in a report on Wednesday, April 2nd. They issued a “hold” rating and a $281.10 price objective for the company. Ten investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Boston Beer presently has a consensus rating of “Hold” and a consensus target price of $293.91.

Boston Beer Trading Up 1.0 %

Shares of SAM stock traded up $2.40 during mid-day trading on Thursday, reaching $240.82. The stock had a trading volume of 54,142 shares, compared to its average volume of 171,164. The firm has a market cap of $2.71 billion, a price-to-earnings ratio of 35.40, a PEG ratio of 1.23 and a beta of 1.26. The business’s fifty day moving average is $235.25 and its 200-day moving average is $270.75. Boston Beer has a 1-year low of $215.10 and a 1-year high of $339.77.

Institutional Investors Weigh In On Boston Beer

Large investors have recently added to or reduced their stakes in the business. T. Rowe Price Investment Management Inc. increased its stake in Boston Beer by 4.4% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 703,480 shares of the company’s stock valued at $211,030,000 after purchasing an additional 29,412 shares during the last quarter. AQR Capital Management LLC boosted its position in shares of Boston Beer by 19.8% in the fourth quarter. AQR Capital Management LLC now owns 422,217 shares of the company’s stock worth $125,821,000 after buying an additional 69,778 shares during the period. Dimensional Fund Advisors LP lifted its position in Boston Beer by 9.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 225,762 shares of the company’s stock worth $67,723,000 after acquiring an additional 19,063 shares in the last quarter. Fisher Asset Management LLC grew its holdings in Boston Beer by 27.1% during the 4th quarter. Fisher Asset Management LLC now owns 160,419 shares of the company’s stock valued at $48,122,000 after purchasing an additional 34,176 shares in the last quarter. Finally, Southernsun Asset Management LLC lifted its stake in shares of Boston Beer by 1.6% in the fourth quarter. Southernsun Asset Management LLC now owns 121,972 shares of the company’s stock worth $36,589,000 after acquiring an additional 1,864 shares in the last quarter. 81.13% of the stock is owned by institutional investors and hedge funds.

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.