Credit Suisse Group Trims Boston Beer (NYSE:SAM) Target Price to $620.00

Boston Beer (NYSE:SAM – Get Rating) had its price target decreased by equities research analysts at Credit Suisse Group from $670.00 to $620.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Credit Suisse Group’s price objective points to a potential upside of 79.21% from the company’s previous close.

A number of other equities research analysts have also recently issued reports on the stock. Zacks Investment Research cut shares of Boston Beer from a “hold” rating to a “strong sell” rating and set a $322.00 target price on the stock. in a report on Monday, February 21st. Guggenheim reduced their price target on Boston Beer from $660.00 to $520.00 and set a “buy” rating for the company in a research report on Wednesday. Deutsche Bank Aktiengesellschaft dropped 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 reaffirmed a “buy” rating and set a $600.00 target price on shares of Boston Beer in a report on Friday, January 14th. Finally, Citigroup lowered their price target on shares of Boston Beer from $499.00 to $424.00 and set a “neutral” rating on the stock in a report on Thursday, February 17th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $643.87.

SAM stock opened at $345.97 on Friday. Boston Beer has a fifty-two week low of $342.74 and a fifty-two 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 company 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:SAM – Get Rating) last issued 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 business had revenue of $430.11 million for the quarter, compared to the consensus estimate of $444.80 million. During the same quarter in the prior year, the business earned $4.58 EPS. Boston Beer’s revenue for the quarter was down 21.1% compared to the same quarter last year. On average, analysts predict 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 Boston Beer stock in a transaction on Friday, April 1st. The shares were sold at an average price of $387.98, for a total transaction of $391,083.84. Following the completion of the sale, the insider now directly owns 4,752 shares of the company’s stock, valued at approximately $1,843,680.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company 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 business. Allworth Financial LP boosted its holdings in shares of Boston Beer by 5.5% in the 3rd quarter. Allworth Financial LP now owns 422 shares of the company’s stock worth $215,000 after purchasing an additional 22 shares in the last quarter. Phoenix Holdings Ltd. lifted its position in Boston Beer by 0.8% in the 4th quarter. Phoenix Holdings Ltd. now owns 3,379 shares of the company’s stock worth $1,699,000 after buying an additional 27 shares during the last quarter. First National Bank Sioux Falls boosted its stake in Boston Beer by 4.8% in the first quarter. First National Bank Sioux Falls now owns 592 shares of the company’s stock worth $230,000 after buying an additional 27 shares in the last quarter. Nissay Asset Management Corp Japan ADV boosted its stake in Boston Beer by 3.6% in the third quarter. Nissay Asset Management Corp Japan ADV now owns 1,011 shares of the company’s stock worth $515,000 after buying an additional 35 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. grew its position in Boston Beer by 3.5% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 1,082 shares of the company’s stock valued at $547,000 after acquiring an additional 37 shares during the last quarter. Institutional investors and hedge funds 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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