Boston Beer Company, Inc. (The) (SAM) Upgraded by Zacks Investment Research to Buy

Zacks Investment Research upgraded shares of Boston Beer Company, Inc. (The) (NYSE:SAM) from a hold rating to a buy rating in a research report report published on Monday morning. Zacks Investment Research currently has $187.00 price objective on the stock.

According to Zacks, “Boston Beer, which has outperformed the industry in a month, posted solid third-quarter 2017 with both earnings and sales surpassing estimates. While this was the company’s fourth-straight earnings beat, sales topped estimates for the second-consecutive quarter. Earnings gained from enhanced gross margin and lower operating costs owing to cost saving initiatives. We remain encouraged by Boston Beer’s three-point growth plan focused on revival of Samuel Adams and Angry Orchard brands, cost-saving initiatives and long-term innovation. The company's focus on pricing, product innovation and brand development are also likely to boost operational performance and market position. Moreover, the company’s brand-building efforts and initiatives to add new products remain key revenue drivers. However, results continue to be hurt by soft depletion trends owing to weakness in Samuel Adams, soft craft beer and cider categories.”

A number of other equities research analysts also recently weighed in on SAM. Cowen and Company reiterated a sell rating and issued a $126.00 price target on shares of Boston Beer Company, Inc. (The) in a report on Friday, July 14th. Susquehanna Bancshares Inc reiterated a positive rating and issued a $175.00 price target (down from $179.00) on shares of Boston Beer Company, Inc. (The) in a report on Friday, July 21st. Goldman Sachs Group, Inc. (The) downgraded Boston Beer Company, Inc. (The) from a neutral rating to a sell rating and lowered their price target for the company from $140.00 to $110.00 in a report on Monday, July 24th. BidaskClub upgraded Boston Beer Company, Inc. (The) from a sell rating to a hold rating in a report on Monday, July 24th. Finally, Jefferies Group LLC reiterated a hold rating on shares of Boston Beer Company, Inc. (The) in a report on Thursday, September 7th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. The stock has an average rating of Hold and an average price target of $149.00.

Shares of Boston Beer Company, Inc. (SAM) traded up 3.52% during trading on Monday, hitting $178.05. 254,755 shares of the stock were exchanged. The stock has a market cap of $2.13 billion, a PE ratio of 25.33 and a beta of 0.56. The stock’s 50 day moving average price is $164.64 and its 200 day moving average price is $147.48. Boston Beer Company, Inc. has a one year low of $128.70 and a one year high of $181.20.

Boston Beer Company, Inc. (The) (NYSE:SAM) last issued its quarterly earnings results on Thursday, October 26th. The company reported $2.78 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.99 by $0.79. Boston Beer Company, Inc. (The) had a return on equity of 21.11% and a net margin of 9.97%. The business had revenue of $247.04 million during the quarter, compared to the consensus estimate of $256.73 million. During the same period in the previous year, the business earned $2.48 EPS. The business’s quarterly revenue was down 2.5% on a year-over-year basis. Equities research analysts predict that Boston Beer Company, Inc. will post $6.27 EPS for the current year.

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A number of institutional investors and hedge funds have recently modified their holdings of SAM. Northwestern Mutual Wealth Management Co. grew its stake in Boston Beer Company, Inc. (The) by 95.4% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 842 shares of the company’s stock worth $111,000 after buying an additional 411 shares during the last quarter. Victory Capital Management Inc. grew its stake in Boston Beer Company, Inc. (The) by 85.6% during the 1st quarter. Victory Capital Management Inc. now owns 826 shares of the company’s stock worth $119,000 after buying an additional 381 shares during the last quarter. IFP Advisors Inc grew its stake in Boston Beer Company, Inc. (The) by 12.7% during the 2nd quarter. IFP Advisors Inc now owns 1,206 shares of the company’s stock worth $159,000 after buying an additional 136 shares during the last quarter. Cubist Systematic Strategies LLC grew its stake in Boston Beer Company, Inc. (The) by 5.1% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 1,576 shares of the company’s stock worth $208,000 after buying an additional 76 shares during the last quarter. Finally, Eqis Capital Management Inc. grew its stake in Boston Beer Company, Inc. (The) by 16.1% during the 2nd quarter. Eqis Capital Management Inc. now owns 1,676 shares of the company’s stock worth $221,000 after buying an additional 233 shares during the last quarter. Hedge funds and other institutional investors own 71.35% of the company’s stock.

Boston Beer Company, Inc. (The) Company Profile

The Boston Beer Company, Inc is a craft brewer in the United States. The Company is engaged in the business of producing and selling alcohol beverages primarily in the domestic market and in selected international markets. The Company operates through two segments: Boston Beer Company segment, and A&S Brewing Collaborative segment.

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