Boston Beer (NYSE:SAM) Stock Rating Lowered by Piper Sandler

Boston Beer (NYSE:SAM) was downgraded by equities researchers at Piper Sandler from an “overweight” rating to a “neutral” rating in a research note issued on Thursday, MarketBeat.com reports. They presently have a $275.00 price objective on the stock, down from their prior price objective of $370.00. Piper Sandler’s price objective would indicate a potential upside of 10.76% from the company’s previous close.

A number of other analysts also recently weighed in on SAM. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Boston Beer from $281.00 to $277.00 and set a “hold” rating for the company in a report on Thursday, October 24th. UBS Group reduced their price target on shares of Boston Beer from $315.00 to $290.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. StockNews.com downgraded shares of Boston Beer from a “buy” rating to a “hold” rating in a report on Wednesday, January 15th. Royal Bank of Canada reissued a “sector perform” rating and issued a $318.00 price target on shares of Boston Beer in a report on Friday, October 25th. Finally, Jefferies Financial Group downgraded shares of Boston Beer from a “buy” rating to a “hold” rating and reduced their price target for the company from $355.00 to $325.00 in a report on Friday, October 25th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $302.90.

Boston Beer Trading Up 1.5 %

NYSE SAM opened at $248.28 on Thursday. The company has a fifty day simple moving average of $294.21 and a 200 day simple moving average of $287.22. The company has a market cap of $2.85 billion, a P/E ratio of 36.51, a P/E/G ratio of 0.79 and a beta of 1.08. Boston Beer has a 1 year low of $243.20 and a 1 year high of $371.65.

Hedge Funds Weigh In On Boston Beer

A number of hedge funds have recently made changes to their positions in SAM. Dimensional Fund Advisors LP increased its position in shares of Boston Beer by 17.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 182,972 shares of the company’s stock worth $55,814,000 after purchasing an additional 26,538 shares in the last quarter. Mercer Global Advisors Inc. ADV acquired a new stake in shares of Boston Beer during the 2nd quarter worth about $1,059,000. Intech Investment Management LLC acquired a new stake in shares of Boston Beer during the 2nd quarter worth about $833,000. Sei Investments Co. increased its position in shares of Boston Beer by 64.8% during the 2nd quarter. Sei Investments Co. now owns 4,254 shares of the company’s stock worth $1,298,000 after purchasing an additional 1,673 shares in the last quarter. Finally, Armistice Capital LLC increased its position in shares of Boston Beer by 1.1% during the 2nd quarter. Armistice Capital LLC now owns 97,292 shares of the company’s stock worth $29,679,000 after purchasing an additional 1,093 shares in the last quarter. Institutional investors and hedge funds own 81.13% of the company’s stock.

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, flavored malt beverages, and hard seltzers under the Samuel Adams, Twisted Tea, Truly, Angry Orchard, Dogfish Head, Angel City, and Coney Island brand names.