The Boston Beer Company, Inc. (NYSE:SAM) Receives $314.82 Consensus Price Target from Brokerages

Shares of The Boston Beer Company, Inc. (NYSE:SAM) have earned an average rating of “Hold” from the twelve research firms that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation and two have given a buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $314.82.

A number of brokerages have weighed in on SAM. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $318.00 target price on shares of Boston Beer in a research note on Friday, October 25th. StockNews.com raised Boston Beer from a “hold” rating to a “buy” rating in a report on Tuesday. Jefferies Financial Group cut Boston Beer from a “buy” rating to a “hold” rating and lowered their target price for the company from $355.00 to $325.00 in a research note on Friday, October 25th. Piper Sandler raised their price target on Boston Beer from $325.00 to $330.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Finally, UBS Group boosted their price objective on Boston Beer from $300.00 to $309.00 in a report on Thursday, October 24th.

Hedge Funds Weigh In On Boston Beer

Several institutional investors and hedge funds have recently made changes to their positions in the company. First Horizon Advisors Inc. lifted its holdings in Boston Beer by 105.1% during the third quarter. First Horizon Advisors Inc. now owns 121 shares of the company’s stock worth $35,000 after acquiring an additional 62 shares in the last quarter. Covestor Ltd grew its position in shares of Boston Beer by 36.6% in the 3rd quarter. Covestor Ltd now owns 127 shares of the company’s stock valued at $37,000 after purchasing an additional 34 shares during the period. GAMMA Investing LLC grew its position in shares of Boston Beer by 59.3% in the 4th quarter. GAMMA Investing LLC now owns 129 shares of the company’s stock valued at $39,000 after purchasing an additional 48 shares during the period. True Wealth Design LLC acquired a new stake in Boston Beer during the 3rd quarter worth approximately $47,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Boston Beer in the third quarter valued at approximately $49,000. Institutional investors and hedge funds own 81.13% of the company’s stock.

Boston Beer Stock Performance

Shares of NYSE:SAM opened at $275.81 on Friday. The business has a fifty day moving average of $306.53 and a 200-day moving average of $290.74. The firm has a market cap of $3.17 billion, a PE ratio of 40.56, a price-to-earnings-growth ratio of 1.21 and a beta of 1.08. Boston Beer has a twelve month low of $254.40 and a twelve month high of $371.65.

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.