Boston Beer (NYSE:SAM) Stock Rating Upgraded by UBS Group

UBS Group upgraded shares of Boston Beer (NYSE:SAM) from a neutral rating to a buy rating in a research report released on Tuesday, Benzinga reports. The firm currently has $440.00 target price on the stock, up from their prior target price of $415.00.

Several other research analysts have also commented on the stock. MKM Partners started coverage on shares of Boston Beer in a research note on Friday, September 20th. They set a neutral rating and a $333.00 price objective for the company. Citigroup upgraded shares of Boston Beer from a neutral rating to a buy rating and raised their target price for the company from $394.00 to $448.00 in a research note on Friday, October 11th. BMO Capital Markets lifted their price target on shares of Boston Beer to $425.00 and gave the stock an outperform rating in a report on Wednesday, October 30th. They noted that the move was a valuation call. Macquarie set a $460.00 price target on Boston Beer and gave the stock a buy rating in a research report on Tuesday, October 15th. Finally, Cowen upgraded Boston Beer from a market perform rating to an outperform rating and increased their price objective for the company from $386.00 to $450.00 in a report on Thursday, October 17th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company’s stock. Boston Beer presently has an average rating of Hold and a consensus target price of $383.56.

Shares of SAM stock opened at $383.91 on Tuesday. The stock’s 50-day moving average is $377.50 and its 200 day moving average is $376.11. Boston Beer has a 1-year low of $230.93 and a 1-year high of $444.64. The company has a market cap of $4.62 billion, a P/E ratio of 51.39, a PEG ratio of 4.17 and a beta of 0.60.

Boston Beer (NYSE:SAM) last announced its earnings results on Tuesday, October 29th. The company reported $3.58 EPS for the quarter, topping the Zacks’ consensus estimate of $2.79 by $0.79. The business had revenue of $378.47 million during the quarter, compared to the consensus estimate of $364.66 million. Boston Beer had a net margin of 10.06% and a return on equity of 20.99%. On average, sell-side analysts predict that Boston Beer will post 9.22 EPS for the current fiscal year.

In other news, Chairman C James Koch sold 7,000 shares of Boston Beer stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $400.00, for a total transaction of $2,800,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last ninety days, insiders sold 71,000 shares of company stock valued at $27,901,780. Corporate insiders own 28.40% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. Tower Research Capital LLC TRC acquired a new stake in shares of Boston Beer in the second quarter worth $35,000. HM Payson & Co. acquired a new position in Boston Beer during the second quarter valued at $38,000. Golden State Wealth Management LLC boosted its holdings in Boston Beer by 910.0% in the third quarter. Golden State Wealth Management LLC now owns 101 shares of the company’s stock valued at $37,000 after purchasing an additional 91 shares during the last quarter. NEXT Financial Group Inc boosted its holdings in Boston Beer by 119.0% in the second quarter. NEXT Financial Group Inc now owns 184 shares of the company’s stock valued at $70,000 after purchasing an additional 100 shares during the last quarter. Finally, Signaturefd LLC acquired a new stake in Boston Beer during the 3rd quarter worth about $73,000. Institutional investors own 73.43% 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, 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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