Boston Beer (NYSE:SAM) Stock Rating Lowered by StockNews.com

Boston Beer (NYSE:SAM) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Wednesday.

Several other equities analysts have also issued reports on SAM. Citigroup cut their price objective on shares of Boston Beer from $335.00 to $290.00 and set a “neutral” rating on the stock in a report on Wednesday, January 15th. Morgan Stanley decreased 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 research report on Wednesday, February 26th. UBS Group cut their price objective on shares of Boston Beer from $315.00 to $290.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Roth Mkm reiterated 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, Piper Sandler lowered their target price on shares of Boston Beer from $275.00 to $240.00 and set a “neutral” rating for the company in a research note on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $293.40.

Boston Beer Stock Down 2.0 %

Shares of NYSE:SAM opened at $233.02 on Wednesday. The firm has a fifty day simple moving average of $253.91 and a two-hundred day simple moving average of $279.64. Boston Beer has a 52 week low of $222.27 and a 52 week high of $339.77. The stock has a market capitalization of $2.68 billion, a P/E ratio of 34.27, a PEG ratio of 1.23 and a beta of 1.06.

Hedge Funds Weigh In On Boston Beer

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SAM. Norges Bank acquired a new position in shares of Boston Beer in the fourth quarter valued at about $30,741,000. J. Goldman & Co LP raised its position in Boston Beer by 251.8% during the 4th quarter. J. Goldman & Co LP now owns 119,687 shares of the company’s stock worth $35,904,000 after buying an additional 85,669 shares during the last quarter. Cooper Creek Partners Management LLC acquired a new stake in Boston Beer during the 4th quarter valued at approximately $25,054,000. Global Alpha Capital Management Ltd. purchased a new stake in shares of Boston Beer in the 4th quarter valued at $23,349,000. Finally, Freestone Grove Partners LP acquired a new stake in shares of Boston Beer in the fourth quarter worth $21,412,000. Hedge funds and other institutional investors 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.