Boston Beer (NYSE:SAM) Raised to “Buy” at Citigroup

Citigroup upgraded shares of Boston Beer (NYSE:SAM) from a neutral rating to a buy rating in a report published on Thursday, MarketBeat reports. The firm currently has $280.00 price target on the stock, up from their previous price target of $265.00.

SAM has been the topic of several other research reports. UBS Group cut their price target on shares of Boston Beer from $315.00 to $290.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. StockNews.com downgraded shares of Boston Beer from a “buy” rating to a “hold” rating in a report on Wednesday, March 5th. Morgan Stanley lowered their price objective on Boston Beer from $290.00 to $270.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 26th. Roth Mkm restated a “buy” rating and issued a $349.00 price objective (down previously from $389.00) on shares of Boston Beer in a research report on Wednesday, February 26th. Finally, Piper Sandler lowered their price objective on Boston Beer from $275.00 to $240.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 26th. One analyst has rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $292.40.

Boston Beer Trading Up 0.1 %

Shares of NYSE:SAM opened at $227.66 on Thursday. Boston Beer has a twelve month low of $215.10 and a twelve month high of $339.77. The company’s 50 day moving average is $239.53 and its 200 day moving average is $275.61. The company has a market cap of $2.56 billion, a PE ratio of 33.48, a price-to-earnings-growth ratio of 1.23 and a beta of 1.14.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in SAM. Quest Partners LLC purchased a new position in shares of Boston Beer during the 3rd quarter valued at approximately $339,000. First Horizon Advisors Inc. lifted its position in shares of Boston Beer by 105.1% during the 3rd quarter. First Horizon Advisors Inc. now owns 121 shares of the company’s stock valued at $35,000 after buying an additional 62 shares in the last quarter. Landscape Capital Management L.L.C. purchased a new position in shares of Boston Beer during the 3rd quarter valued at approximately $317,000. Great Valley Advisor Group Inc. lifted its position in shares of Boston Beer by 8.5% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 867 shares of the company’s stock valued at $251,000 after buying an additional 68 shares in the last quarter. Finally, Cerity Partners LLC purchased a new position in shares of Boston Beer during the 3rd quarter valued at approximately $2,750,000. Hedge funds and other institutional investors own 81.13% of the company’s stock.

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.