Boston Beer (NYSE:SAM) Price Target Cut to $620.00 by Analysts at Credit Suisse Group

Boston Beer (NYSE:SAMGet Rating) had its target price cut by Credit Suisse Group from $670.00 to $620.00 in a report issued on Friday morning, Benzinga reports. They currently have an outperform rating on the stock.

Other equities research analysts have also issued reports about the stock. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Boston Beer from $420.00 to $337.00 and set a hold rating for the company in a research report on Friday. MKM Partners cut their target price on shares of Boston Beer from $475.00 to $440.00 in a research report on Friday, January 14th. Evercore ISI reissued a buy rating and issued a $600.00 target price on shares of Boston Beer in a research note on Friday, January 14th. Citigroup dropped their price target on Boston Beer from $499.00 to $424.00 and set a neutral rating for the company in a research note on Thursday, February 17th. Finally, Royal Bank of Canada reduced their price objective on Boston Beer from $661.00 to $625.00 and set an outperform rating on the stock in a research report on Friday, January 14th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of Hold and a consensus target price of $643.87.

NYSE:SAM opened at $345.97 on Friday. Boston Beer has a 52-week low of $342.74 and a 52-week high of $1,349.98. The stock has a fifty day moving average of $382.61 and a 200 day moving average of $449.98. The firm has a market capitalization of $4.25 billion, a price-to-earnings ratio of 335.89 and a beta of 0.82.

Boston Beer (NYSE:SAMGet Rating) last released its quarterly earnings results on Thursday, April 21st. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of $2.13 by ($2.29). The business had revenue of $430.11 million during the quarter, compared to analysts’ expectations of $444.80 million. Boston Beer had a net margin of 0.69% and a return on equity of 14.68%. During the same period in the previous year, the business earned $4.58 EPS. The business’s revenue was down 21.1% on a year-over-year basis. On average, equities analysts predict that Boston Beer will post 13.82 earnings per share for the current year.

In other news, insider John C. Geist sold 1,008 shares of the firm’s stock in a transaction that occurred on Friday, April 1st. The shares were sold at an average price of $387.98, for a total value of $391,083.84. Following the transaction, the insider now owns 4,752 shares in the company, valued at $1,843,680.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 24.30% of the company’s stock.

Several institutional investors have recently bought and sold shares of SAM. Tobam increased its holdings in Boston Beer by 337.7% during the 3rd quarter. Tobam now owns 57,040 shares of the company’s stock valued at $29,076,000 after purchasing an additional 44,007 shares during the period. Sweet Financial Partners LLC bought a new stake in shares of Boston Beer in the 4th quarter worth approximately $253,000. Cardinal Capital Management increased its stake in shares of Boston Beer by 4.3% during the fourth quarter. Cardinal Capital Management now owns 1,884 shares of the company’s stock valued at $952,000 after buying an additional 77 shares during the period. Commerce Bank raised its holdings in shares of Boston Beer by 103.6% during the third quarter. Commerce Bank now owns 1,230 shares of the company’s stock valued at $627,000 after acquiring an additional 626 shares in the last quarter. Finally, Titus Wealth Management purchased a new stake in Boston Beer in the third quarter worth $251,000. Institutional investors own 63.38% of the company’s stock.

About Boston Beer (Get Rating)

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, Truly Hard Seltzer, Angry Orchard, Dogfish Head, Angel City, Coney Island, Concrete Beach brand names.

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