Boston Beer (NYSE:SAM) Upgraded to “Equal Weight” by Morgan Stanley

Morgan Stanley upgraded shares of Boston Beer (NYSE:SAMFree Report) from an underweight rating to an equal weight rating in a research report released on Wednesday morning, Marketbeat reports. The firm currently has $290.00 price target on the stock.

Other research analysts have also issued reports about the company. Evercore ISI upped their price objective on Boston Beer from $310.00 to $325.00 and gave the company an in-line rating in a report on Friday, April 26th. UBS Group lowered their price objective on Boston Beer from $390.00 to $355.00 and set a neutral rating for the company in a research report on Wednesday, February 28th. Deutsche Bank Aktiengesellschaft upgraded Boston Beer from a sell rating to a hold rating and set a $273.00 price objective for the company in a research report on Wednesday, May 8th. Citigroup lowered their price objective on Boston Beer from $350.00 to $315.00 and set a neutral rating for the company in a research report on Tuesday, April 16th. Finally, Piper Sandler assumed coverage on Boston Beer in a research note on Friday, March 22nd. They set an overweight rating and a $350.00 target price for the company. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of Hold and an average price target of $335.00.

View Our Latest Stock Analysis on Boston Beer

Boston Beer Stock Down 1.1 %

Shares of Boston Beer stock opened at $291.53 on Wednesday. Boston Beer has a 12-month low of $254.40 and a 12-month high of $395.52. The business’s 50 day moving average is $283.78 and its 200-day moving average is $319.60. The stock has a market cap of $3.48 billion, a P/E ratio of 36.58, a P/E/G ratio of 1.13 and a beta of 1.09.

Boston Beer (NYSE:SAMGet Free Report) last posted its quarterly earnings results on Thursday, April 25th. The company reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.96. Boston Beer had a return on equity of 10.11% and a net margin of 4.60%. The business had revenue of $426.05 million for the quarter, compared to analysts’ expectations of $414.18 million. On average, sell-side analysts expect that Boston Beer will post 10.31 EPS for the current year.

Insider Buying and Selling at Boston Beer

In other Boston Beer news, insider Carolyn L. O’boyle sold 101 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $303.49, for a total value of $30,652.49. Following the completion of the sale, the insider now owns 7,029 shares of the company’s stock, valued at $2,133,231.21. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 23.30% of the company’s stock.

Institutional Investors Weigh In On Boston Beer

A number of hedge funds have recently added to or reduced their stakes in the company. LRI Investments LLC purchased a new position in shares of Boston Beer during the first quarter valued at approximately $30,000. iA Global Asset Management Inc. boosted its position in shares of Boston Beer by 0.8% during the first quarter. iA Global Asset Management Inc. now owns 19,265 shares of the company’s stock valued at $5,865,000 after buying an additional 161 shares during the last quarter. Comerica Bank boosted its position in shares of Boston Beer by 51.0% during the first quarter. Comerica Bank now owns 4,193 shares of the company’s stock valued at $1,276,000 after buying an additional 1,416 shares during the last quarter. Tidal Investments LLC boosted its position in shares of Boston Beer by 100.6% during the first quarter. Tidal Investments LLC now owns 1,868 shares of the company’s stock valued at $569,000 after buying an additional 937 shares during the last quarter. Finally, Jane Street Group LLC boosted its position in shares of Boston Beer by 171.8% during the first quarter. Jane Street Group LLC now owns 15,876 shares of the company’s stock valued at $4,833,000 after buying an additional 37,985 shares during the last quarter. Institutional investors and hedge funds own 81.13% of the company’s stock.

About Boston Beer

(Get Free Report)

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.

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Analyst Recommendations for Boston Beer (NYSE:SAM)

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