The Boston Beer Company, Inc. (NYSE:SAM) Receives Average Recommendation of “Hold” from Brokerages

The Boston Beer Company, Inc. (NYSE:SAM) has been given a consensus rating of “Hold” by the eleven research firms that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $314.82.

Several equities analysts have issued reports on the stock. UBS Group upped their price objective on shares of Boston Beer from $300.00 to $309.00 in a research note on Thursday, October 24th. Piper Sandler upped their price objective on shares of Boston Beer from $325.00 to $330.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Jefferies Financial Group downgraded shares of Boston Beer from a “buy” rating to a “hold” rating and decreased their price objective for the company from $355.00 to $325.00 in a research note on Friday, October 25th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Boston Beer from $281.00 to $277.00 and set a “hold” rating for the company in a research note on Thursday, October 24th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $318.00 price objective on shares of Boston Beer in a research note on Friday, October 25th.

Boston Beer Trading Down 0.8 %

Shares of SAM stock opened at $309.16 on Thursday. The firm has a fifty day moving average price of $290.59 and a 200 day moving average price of $285.15. The company has a market cap of $3.55 billion, a P/E ratio of 45.46, a PEG ratio of 1.22 and a beta of 1.06. Boston Beer has a 12 month low of $254.40 and a 12 month high of $371.65.

Institutional Trading of Boston Beer

Hedge funds have recently modified their holdings of the business. Covestor Ltd grew its holdings in Boston Beer by 36.6% during the third quarter. Covestor Ltd now owns 127 shares of the company’s stock worth $37,000 after acquiring an additional 34 shares during the period. First Horizon Advisors Inc. boosted its position in shares of Boston Beer by 105.1% during the 3rd quarter. First Horizon Advisors Inc. now owns 121 shares of the company’s stock worth $35,000 after purchasing an additional 62 shares in the last quarter. Great Valley Advisor Group Inc. grew its stake in shares of Boston Beer by 8.5% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 867 shares of the company’s stock worth $251,000 after purchasing an additional 68 shares during the period. National Bank of Canada FI increased its holdings in shares of Boston Beer by 10.0% in the 3rd quarter. National Bank of Canada FI now owns 793 shares of the company’s stock valued at $229,000 after purchasing an additional 72 shares in the last quarter. Finally, Los Angeles Capital Management LLC lifted its stake in shares of Boston Beer by 0.5% in the second quarter. Los Angeles Capital Management LLC now owns 14,729 shares of the company’s stock valued at $4,493,000 after purchasing an additional 74 shares during the period. 81.13% of the stock is owned by institutional investors and hedge funds.

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.