Boston Beer (NYSE:SAM) Now Covered by Analysts at Needham & Company LLC

Needham & Company LLC assumed coverage on shares of Boston Beer (NYSE:SAM) in a research note issued to investors on Friday, MarketBeat Ratings reports. The firm issued a hold rating on the stock.

Other equities analysts have also issued research reports about the stock. Royal Bank of Canada reiterated a “sector perform” rating and issued a $318.00 target price on shares of Boston Beer in a research report on Friday, October 25th. Jefferies Financial Group downgraded Boston Beer from a “buy” rating to a “hold” rating and cut their target price for the stock from $355.00 to $325.00 in a research report on Friday, October 25th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Boston Beer from $281.00 to $277.00 and set a “hold” rating on the stock in a research note on Thursday, October 24th. Roth Mkm restated a “buy” rating and set a $389.00 target price on shares of Boston Beer in a report on Wednesday, October 23rd. Finally, UBS Group raised their target price on Boston Beer from $300.00 to $309.00 in a research report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Boston Beer has a consensus rating of “Hold” and a consensus price target of $314.82.

Boston Beer Stock Performance

Shares of SAM stock opened at $314.81 on Friday. The firm has a market capitalization of $3.61 billion, a PE ratio of 46.30, a price-to-earnings-growth ratio of 1.21 and a beta of 1.07. Boston Beer has a 1 year low of $254.40 and a 1 year high of $371.65. The stock has a fifty day moving average of $300.11 and a two-hundred day moving average of $287.89.

Institutional Investors Weigh In On Boston Beer

Several institutional investors and hedge funds have recently modified their holdings of the business. Savant Capital LLC bought a new stake in Boston Beer during the second quarter worth approximately $982,000. Assenagon Asset Management S.A. boosted its holdings in shares of Boston Beer by 190.6% during the 2nd quarter. Assenagon Asset Management S.A. now owns 46,659 shares of the company’s stock worth $14,233,000 after buying an additional 30,601 shares during the period. SW Investment Management LLC acquired a new position in Boston Beer in the 2nd quarter valued at $1,525,000. Verition Fund Management LLC raised its holdings in Boston Beer by 582.6% in the 3rd quarter. Verition Fund Management LLC now owns 19,693 shares of the company’s stock worth $5,694,000 after acquiring an additional 16,808 shares during the period. Finally, Oppenheimer Asset Management Inc. raised its holdings in Boston Beer by 18.7% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 4,933 shares of the company’s stock worth $1,505,000 after acquiring an additional 778 shares during the period. 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.