Boston Beer (NYSE:SAM) Rating Lowered to Hold at Jefferies Financial Group

Jefferies Financial Group cut shares of Boston Beer (NYSE:SAM) from a buy rating to a hold rating in a research report sent to investors on Friday morning, Marketbeat Ratings reports. The brokerage currently has $325.00 target price on the stock, down from their prior target price of $355.00.

Several other equities research analysts also recently issued reports on SAM. Royal Bank of Canada lowered their price target on Boston Beer from $332.00 to $318.00 and set a “sector perform” rating on the stock in a research report on Friday, July 26th. Piper Sandler lowered their price target on Boston Beer from $344.00 to $325.00 and set an “overweight” rating on the stock in a research report on Friday, July 26th. UBS Group raised their price target on Boston Beer from $300.00 to $309.00 in a research report on Thursday. Roth Mkm reaffirmed a “buy” rating and issued a $389.00 price target on shares of Boston Beer in a research report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of Boston Beer from $281.00 to $277.00 and set a “hold” rating for the company in a research note on Thursday. One research analyst has rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Boston Beer presently has an average rating of “Hold” and a consensus price target of $314.82.

Boston Beer Price Performance

Boston Beer stock opened at $295.96 on Friday. The company has a market capitalization of $3.47 billion, a price-to-earnings ratio of 38.74, a PEG ratio of 1.23 and a beta of 1.06. The company’s fifty day moving average price is $279.71 and its two-hundred day moving average price is $282.30. Boston Beer has a one year low of $254.40 and a one year high of $372.61.

Boston Beer (NYSE:SAM) last issued its quarterly earnings results on Thursday, July 25th. The company reported $4.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.99 by ($0.60). The business had revenue of $579.10 million during the quarter, compared to analyst estimates of $597.33 million. Boston Beer had a net margin of 4.39% and a return on equity of 9.69%. The company’s revenue for the quarter was down 4.0% compared to the same quarter last year. During the same period in the prior year, the business posted $4.72 earnings per share. As a group, sell-side analysts anticipate that Boston Beer will post 9.63 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SAM. LRI Investments LLC bought a new position in Boston Beer during the first quarter worth about $28,000. ORG Partners LLC bought a new position in Boston Beer during the second quarter worth about $48,000. Sachetta LLC lifted its stake in Boston Beer by 1,533.3% during the second quarter. Sachetta LLC now owns 245 shares of the company’s stock worth $68,000 after purchasing an additional 230 shares during the period. DekaBank Deutsche Girozentrale lifted its stake in Boston Beer by 61.3% during the second quarter. DekaBank Deutsche Girozentrale now owns 250 shares of the company’s stock worth $75,000 after purchasing an additional 95 shares during the period. Finally, Quarry LP lifted its stake in Boston Beer by 984.0% during the second quarter. Quarry LP now owns 271 shares of the company’s stock worth $83,000 after purchasing an additional 246 shares during the period. 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.