Boston Beer (NYSE:SAM) Price Target Cut to $230.00 by Analysts at Citigroup

Boston Beer (NYSE:SAM) had its price objective cut by stock analysts at Citigroup from $285.00 to $230.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Citigroup’s target price would suggest a potential upside of 19.78% from the company’s current price.

SAM has been the subject of a number of other reports. UBS Group raised their price target on Boston Beer from $265.00 to $279.00 and gave the stock a “neutral” rating in a research note on Thursday, April 17th. Piper Sandler cut their price objective on shares of Boston Beer from $240.00 to $230.00 and set a “neutral” rating on the stock in a research report on Thursday, April 17th. Wall Street Zen cut shares of Boston Beer from a “buy” rating to a “hold” rating in a research note on Friday, June 27th. Needham & Company LLC restated a “hold” rating on shares of Boston Beer in a research note on Friday, April 25th. Finally, Berenberg Bank assumed coverage on shares of Boston Beer in a report on Wednesday, April 2nd. They set a “hold” rating and a $281.10 price target on the stock. One equities research analyst has rated the stock with a sell rating, ten have issued 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 an average price target of $267.01.

Boston Beer Stock Up 0.3%

SAM stock opened at $192.02 on Tuesday. The company has a 50 day moving average of $215.48 and a two-hundred day moving average of $234.80. The company has a market cap of $2.14 billion, a price-to-earnings ratio of 31.84, a PEG ratio of 1.41 and a beta of 0.99. Boston Beer has a 12-month low of $185.34 and a 12-month high of $329.55.

Boston Beer (NYSE:SAM) last announced its quarterly earnings data on Thursday, April 24th. The company reported $2.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $1.38. The business had revenue of $481.36 million during the quarter, compared to analyst estimates of $436.27 million. Boston Beer had a return on equity of 13.81% and a net margin of 3.30%. Boston Beer’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period last year, the company earned $1.04 earnings per share. On average, research analysts anticipate that Boston Beer will post 9.29 EPS for the current year.

Institutional Trading of Boston Beer

Large investors have recently modified their holdings of the company. US Bancorp DE lifted its position in Boston Beer by 67.9% during the 4th quarter. US Bancorp DE now owns 272 shares of the company’s stock worth $82,000 after acquiring an additional 110 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Boston Beer by 5.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 94,356 shares of the company’s stock worth $28,305,000 after purchasing an additional 4,675 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Boston Beer during the 4th quarter worth about $243,000. PNC Financial Services Group Inc. lifted its position in shares of Boston Beer by 6.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,332 shares of the company’s stock worth $400,000 after purchasing an additional 84 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Boston Beer by 11.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,517 shares of the company’s stock valued at $755,000 after purchasing an additional 257 shares during the period. 81.13% of the stock is owned by institutional investors.

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.