Piper Sandler Raises Boston Beer (NYSE:SAM) Price Target to $330.00

Boston Beer (NYSE:SAM) had its price target boosted by stock analysts at Piper Sandler from $325.00 to $330.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Piper Sandler’s price objective points to a potential upside of 10.82% from the stock’s current price.

Several other equities analysts have also recently issued reports on the company. Deutsche Bank Aktiengesellschaft decreased their price objective on Boston Beer from $281.00 to $277.00 and set a “hold” rating for the company in a report on Thursday. Roth Mkm restated a “buy” rating and issued a $389.00 price objective on shares of Boston Beer in a research report on Wednesday. Jefferies Financial Group cut shares of Boston Beer from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $355.00 to $325.00 in a research note on Friday. UBS Group boosted their target price on shares of Boston Beer from $300.00 to $309.00 in a research note on Thursday. Finally, Royal Bank of Canada dropped their price target on shares of 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. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $320.08.

Boston Beer Price Performance

SAM traded down $4.10 during trading on Friday, reaching $297.78. 137,239 shares of the company’s stock were exchanged, compared to its average volume of 158,792. The company’s fifty day simple moving average is $279.44 and its 200-day simple moving average is $282.31. The stock has a market capitalization of $3.49 billion, a P/E ratio of 38.54, a price-to-earnings-growth ratio of 1.23 and a beta of 1.06. Boston Beer has a 1 year low of $254.40 and a 1 year high of $372.61.

Boston Beer (NYSE:SAM) last posted 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). The business had revenue of $579.10 million for 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% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.72 earnings per share. Equities analysts forecast that Boston Beer will post 9.63 EPS for the current year.

Institutional Investors Weigh In On Boston Beer

Several institutional investors have recently bought and sold shares of the company. LRI Investments LLC purchased a new position in shares of Boston Beer in the first quarter valued at approximately $28,000. Seven Eight Capital LP grew its holdings in shares of Boston Beer by 160.0% during the first quarter. Seven Eight Capital LP now owns 4,940 shares of the company’s stock worth $1,504,000 after buying an additional 3,040 shares in the last quarter. Natixis purchased a new stake in shares of Boston Beer during the first quarter worth $3,044,000. Gamco Investors INC. ET AL raised its position in shares of Boston Beer by 16.9% in the first quarter. Gamco Investors INC. ET AL now owns 13,333 shares of the company’s stock valued at $4,059,000 after buying an additional 1,925 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of Boston Beer by 2.3% in the fourth quarter. Vanguard Group Inc. now owns 918,502 shares of the company’s stock worth $317,425,000 after buying an additional 21,060 shares in the last quarter. 81.13% of the stock is currently owned by institutional investors and hedge funds.

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.