Boston Beer (NYSE:SAM) Earns “Sector Perform” Rating from Royal Bank of Canada

Boston Beer (NYSE:SAM)‘s stock had its “sector perform” rating reissued by equities researchers at Royal Bank of Canada in a report issued on Friday, Benzinga reports. They currently have a $318.00 price target on the stock. Royal Bank of Canada’s price target would suggest a potential upside of 6.24% from the stock’s current price.

A number of other equities research analysts have also recently commented on SAM. 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 report on Thursday. Jefferies Financial Group cut shares of Boston Beer from a “buy” rating to a “hold” rating and reduced their target price for the company from $355.00 to $325.00 in a report on Friday. UBS Group upped their target price on shares of Boston Beer from $300.00 to $309.00 in a report on Thursday. Piper Sandler upped their target price on shares of Boston Beer from $325.00 to $330.00 and gave the company an “overweight” rating in a report on Friday. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $389.00 target price on shares of Boston Beer in a report on Wednesday. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Boston Beer currently has an average rating of “Hold” and a consensus target price of $320.08.

Boston Beer Stock Performance

NYSE SAM traded down $2.57 during trading hours on Friday, hitting $299.31. The company had a trading volume of 209,444 shares, compared to its average volume of 159,222. Boston Beer has a 1-year low of $254.40 and a 1-year high of $372.61. The company has a market cap of $3.51 billion, a PE ratio of 39.23, a price-to-earnings-growth ratio of 1.23 and a beta of 1.06. The business has a 50 day moving average of $279.44 and a 200-day moving average of $282.31.

Boston Beer (NYSE:SAM) last released its quarterly earnings data 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). Boston Beer had a net margin of 4.39% and a return on equity of 9.69%. The company had revenue of $579.10 million during the quarter, compared to analyst estimates of $597.33 million. During the same quarter in the prior year, the company earned $4.72 EPS. The business’s revenue was down 4.0% on a year-over-year basis. Sell-side analysts expect that Boston Beer will post 9.63 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in SAM. Los Angeles Capital Management LLC boosted its position in Boston Beer by 0.5% during the second quarter. Los Angeles Capital Management LLC now owns 14,729 shares of the company’s stock worth $4,493,000 after acquiring an additional 74 shares during the last quarter. Gagnon Securities LLC boosted its position in Boston Beer by 0.5% during the first quarter. Gagnon Securities LLC now owns 16,893 shares of the company’s stock worth $5,143,000 after acquiring an additional 80 shares during the last quarter. QV Investors Inc. boosted its position in Boston Beer by 0.4% during the third quarter. QV Investors Inc. now owns 20,650 shares of the company’s stock worth $5,971,000 after acquiring an additional 80 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its position 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 acquiring an additional 95 shares during the last quarter. Finally, LRI Investments LLC acquired a new stake in Boston Beer during the first quarter worth approximately $28,000. 81.13% of the stock is owned by hedge funds and other institutional investors.

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.