Boston Beer (NYSE:SAM) PT Raised to $421.00

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Boston Beer (NYSE:SAM) had its price objective raised by Guggenheim from $372.00 to $421.00 in a research report sent to investors on Friday, Briefing.com Automated Import reports. They currently have a buy rating on the stock.

Several other equities research analysts also recently commented on SAM. Goldman Sachs Group started coverage on Colfax in a report on Friday, April 5th. They set a buy rating and a $34.00 price objective for the company. ValuEngine downgraded Ultrapar Participacoes from a sell rating to a strong sell rating in a report on Thursday, April 25th. Macquarie boosted their price objective on Boston Beer from $325.00 to $365.00 and gave the company a neutral rating in a report on Friday, May 10th. Credit Suisse Group downgraded Air China from a neutral rating to an underperform rating in a report on Monday, June 10th. Finally, Zacks Investment Research downgraded Hancock Jaffe Laboratories from a buy rating to a hold rating in a report on Wednesday, June 26th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of Hold and an average price target of $305.52.

Shares of SAM stock opened at $386.92 on Friday. The company has a market capitalization of $4.63 billion, a P/E ratio of 51.80, a P/E/G ratio of 4.62 and a beta of 0.68. The business has a 50 day simple moving average of $351.13. Boston Beer has a fifty-two week low of $230.93 and a fifty-two week high of $401.05.

Boston Beer (NYSE:SAM) last issued its earnings results on Wednesday, April 24th. The company reported $1.87 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.89 by $0.98. The business had revenue of $252.00 million during the quarter, compared to the consensus estimate of $232.19 million. Boston Beer had a return on equity of 23.00% and a net margin of 9.94%. The firm’s revenue for the quarter was up 32.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.55 earnings per share. As a group, sell-side analysts expect that Boston Beer will post 8.59 EPS for the current fiscal year.

In other Boston Beer news, VP David L. Grinnell sold 1,000 shares of the business’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $331.25, for a total value of $331,250.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO David A. Burwick sold 5,105 shares of the business’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $303.57, for a total value of $1,549,724.85. The disclosure for this sale can be found here. In the last three months, insiders sold 7,105 shares of company stock worth $2,230,975. Insiders own 28.40% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the business. GYL Financial Synergies LLC bought a new stake in shares of Boston Beer in the first quarter valued at $1,556,000. Lord Abbett & CO. LLC raised its stake in shares of Boston Beer by 3.6% in the fourth quarter. Lord Abbett & CO. LLC now owns 24,428 shares of the company’s stock valued at $5,883,000 after buying an additional 860 shares during the period. Norges Bank bought a new stake in shares of Boston Beer in the fourth quarter valued at $22,173,000. QS Investors LLC raised its stake in shares of Boston Beer by 2,250.7% in the fourth quarter. QS Investors LLC now owns 8,110 shares of the company’s stock valued at $1,954,000 after buying an additional 7,765 shares during the period. Finally, FMR LLC raised its stake in shares of Boston Beer by 303,565.2% in the fourth quarter. FMR LLC now owns 69,843 shares of the company’s stock valued at $16,821,000 after buying an additional 69,820 shares during the period. 73.77% 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, and hard seltzers under the Samuel Adams, Twisted Tea, Angry Orchard Hard Cider, and Truly Hard Seltzer brand names.

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Analyst Recommendations for Boston Beer (NYSE:SAM)

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