Cowen Lowers Boston Beer (NYSE:SAM) Price Target to $375.00

Boston Beer (NYSE:SAMGet Rating) had its price target lowered by equities researchers at Cowen from $500.00 to $375.00 in a research report issued on Friday, Stock Target Advisor reports. The brokerage currently has a “market perform” rating on the stock. Cowen’s target price would indicate a potential upside of 4.17% from the company’s current price.

A number of other equities research analysts also recently weighed in on SAM. Citigroup decreased their price objective on Boston Beer from $499.00 to $424.00 and set a “neutral” rating on the stock in a report on Thursday, February 17th. MKM Partners decreased their price objective on Boston Beer from $475.00 to $440.00 in a report on Friday, January 14th. Deutsche Bank Aktiengesellschaft decreased their price objective on Boston Beer from $420.00 to $337.00 and set a “hold” rating on the stock in a report on Friday. Evercore ISI reduced their target price on Boston Beer from $600.00 to $400.00 in a report on Friday. Finally, Credit Suisse Group dropped their price target on Boston Beer from $670.00 to $620.00 and set an “outperform” rating for the company in a report on Friday. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Boston Beer presently has a consensus rating of “Hold” and a consensus price target of $606.75.

SAM stock traded up $14.03 during trading on Friday, reaching $360.00. 4,845 shares of the stock were exchanged, compared to its average volume of 193,516. Boston Beer has a twelve month low of $342.74 and a twelve month high of $1,349.98. The company has a market capitalization of $4.43 billion, a P/E ratio of 349.51 and a beta of 0.82. The stock has a 50 day simple moving average of $382.61 and a 200-day simple moving average of $449.98.

Boston Beer (NYSE:SAMGet Rating) last released its earnings results on Thursday, April 21st. The company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of $2.13 by ($2.29). Boston Beer had a return on equity of 14.68% and a net margin of 0.69%. The firm had revenue of $430.11 million for the quarter, compared to analyst estimates of $444.80 million. During the same period last year, the business earned $4.58 earnings per share. The firm’s quarterly revenue was down 21.1% compared to the same quarter last year. Equities research analysts expect that Boston Beer will post 13.82 EPS for the current fiscal year.

In other news, insider John C. Geist sold 1,008 shares of the company’s stock in a transaction on Friday, April 1st. The stock was sold at an average price of $387.98, for a total transaction of $391,083.84. Following the transaction, the insider now owns 4,752 shares of the company’s stock, valued at $1,843,680.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 24.30% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sweet Financial Partners LLC increased its holdings in Boston Beer by 50.0% in the first quarter. Sweet Financial Partners LLC now owns 750 shares of the company’s stock valued at $291,000 after purchasing an additional 250 shares during the last quarter. Simmons Bank bought a new stake in Boston Beer in the first quarter valued at about $1,440,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Boston Beer by 9.6% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,258 shares of the company’s stock valued at $489,000 after purchasing an additional 110 shares during the last quarter. Cardinal Capital Management increased its holdings in shares of Boston Beer by 14.4% in the first quarter. Cardinal Capital Management now owns 2,155 shares of the company’s stock worth $837,000 after acquiring an additional 271 shares in the last quarter. Finally, Boston Trust Walden Corp increased its holdings in shares of Boston Beer by 0.9% in the first quarter. Boston Trust Walden Corp now owns 5,170 shares of the company’s stock worth $2,009,000 after acquiring an additional 45 shares in the last quarter. Institutional investors and hedge funds own 63.38% of the company’s stock.

Boston Beer Company Profile (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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