Boston Beer (NYSE:SAM) Price Target Raised to $325.00 at Evercore ISI

Boston Beer (NYSE:SAM) had its target price raised by Evercore ISI from $310.00 to $325.00 in a research report released on Friday morning, Benzinga reports. The firm currently has an in-line rating on the stock.

SAM has been the topic of a number of other research reports. Morgan Stanley lowered their target price on shares of Boston Beer from $285.00 to $275.00 and set an underweight rating on the stock in a report on Wednesday, February 28th. Roth Mkm upped their target price on shares of Boston Beer from $406.00 to $422.00 and gave the stock a buy rating in a report on Tuesday, January 23rd. UBS Group lowered their target price on shares of Boston Beer from $390.00 to $355.00 and set a neutral rating on the stock in a report on Wednesday, February 28th. The Goldman Sachs Group reduced their price objective on shares of Boston Beer from $257.00 to $250.00 and set a sell rating for the company in a research report on Tuesday, April 9th. Finally, Citigroup reduced their price objective on shares of Boston Beer from $350.00 to $315.00 and set a neutral rating for the company in a research report on Tuesday, April 16th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of Hold and an average price target of $335.21.

Boston Beer Trading Down 1.4 %

Shares of NYSE SAM opened at $283.20 on Friday. The firm’s 50-day moving average price is $303.71 and its 200-day moving average price is $333.27. Boston Beer has a 1-year low of $274.78 and a 1-year high of $395.52. The firm has a market capitalization of $3.40 billion, a P/E ratio of 35.53, a P/E/G ratio of 1.16 and a beta of 1.02.

Boston Beer (NYSE:SAM) last posted its earnings results on Thursday, April 25th. The company reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.96. Boston Beer had a net margin of 4.60% and a return on equity of 10.00%. The company had revenue of $426.05 million for the quarter, compared to analyst estimates of $414.18 million. Equities research analysts forecast that Boston Beer will post 9.91 EPS for the current year.

Insider Activity

In other news, insider Carolyn L. O’boyle sold 102 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $350.72, for a total transaction of $35,773.44. Following the completion of the transaction, the insider now directly owns 2,630 shares of the company’s stock, valued at approximately $922,393.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Carolyn L. O’boyle sold 102 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $350.72, for a total transaction of $35,773.44. Following the completion of the transaction, the insider now directly owns 2,630 shares of the company’s stock, valued at approximately $922,393.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Carolyn L. O’boyle sold 101 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $303.49, for a total transaction of $30,652.49. Following the transaction, the insider now directly owns 7,029 shares of the company’s stock, valued at $2,133,231.21. The disclosure for this sale can be found here. Insiders own 23.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Envestnet Portfolio Solutions Inc. boosted its holdings in Boston Beer by 5.7% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 609 shares of the company’s stock worth $210,000 after buying an additional 33 shares during the period. Arizona State Retirement System boosted its holdings in Boston Beer by 1.2% in the 3rd quarter. Arizona State Retirement System now owns 2,759 shares of the company’s stock worth $1,075,000 after buying an additional 34 shares during the period. CWM LLC boosted its holdings in Boston Beer by 17.6% in the 4th quarter. CWM LLC now owns 227 shares of the company’s stock worth $78,000 after buying an additional 34 shares during the period. Cardinal Capital Management boosted its holdings in Boston Beer by 1.3% in the 4th quarter. Cardinal Capital Management now owns 2,784 shares of the company’s stock worth $962,000 after buying an additional 36 shares during the period. Finally, Covestor Ltd boosted its holdings in Boston Beer by 88.4% in the 3rd quarter. Covestor Ltd now owns 81 shares of the company’s stock worth $32,000 after buying an additional 38 shares during the period. 81.13% of the stock is owned by institutional investors.

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.