Boston Beer (NYSE:SAM) Price Target Cut to $325.00 by Analysts at Piper Sandler

Boston Beer (NYSE:SAM) had its price objective cut by Piper Sandler from $344.00 to $325.00 in a research note published on Friday, Benzinga reports. They currently have an overweight rating on the stock.

Several other research analysts have also recently commented on SAM. Citigroup reduced their target price on shares of Boston Beer from $350.00 to $315.00 and set a neutral rating for the company in a report on Tuesday, April 16th. The Goldman Sachs Group reduced their price objective on shares of Boston Beer from $257.00 to $250.00 and set a sell rating for the company in a research note on Tuesday, April 9th. StockNews.com downgraded Boston Beer from a buy rating to a hold rating in a research report on Wednesday, June 12th. Jefferies Financial Group raised Boston Beer from a hold rating to a buy rating and increased their price target for the company from $335.00 to $360.00 in a research report on Tuesday, May 14th. Finally, Evercore ISI boosted their price target on Boston Beer from $310.00 to $325.00 and gave the stock an in-line rating in a research report on Friday, April 26th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of Hold and a consensus price target of $328.69.

Boston Beer Trading Down 2.3 %

SAM stock opened at $284.09 on Friday. The stock has a market cap of $3.39 billion, a PE ratio of 35.64, a price-to-earnings-growth ratio of 1.17 and a beta of 1.03. The stock has a 50-day moving average price of $286.90 and a two-hundred day moving average price of $304.74. Boston Beer has a 1 year low of $254.40 and a 1 year high of $395.52.

Boston Beer (NYSE:SAM) last announced its earnings results on Thursday, July 25th. The company reported $4.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.99 by ($0.60). Boston Beer had a net margin of 4.39% and a return on equity of 9.69%. The firm had revenue of $579.10 million during the quarter, compared to analyst estimates of $597.33 million. During the same period in the prior year, the business posted $4.72 EPS. The firm’s quarterly revenue was down 4.0% compared to the same quarter last year. On average, analysts forecast that Boston Beer will post 9.78 earnings per share for the current fiscal year.

Institutional Trading of Boston Beer

Hedge funds have recently modified their holdings of the stock. LRI Investments LLC acquired a new position in Boston Beer in the 1st quarter valued at about $28,000. Quarry LP acquired a new position in shares of Boston Beer in the fourth quarter valued at approximately $42,000. ORG Partners LLC acquired a new position in shares of Boston Beer in the second quarter valued at approximately $48,000. CWM LLC increased its stake in shares of Boston Beer by 17.6% during the fourth quarter. CWM LLC now owns 227 shares of the company’s stock worth $78,000 after purchasing an additional 34 shares during the period. Finally, Principal Securities Inc. acquired a new stake in Boston Beer during the 4th quarter worth approximately $82,000. Institutional investors and hedge funds 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.