Piper Sandler Lowers Boston Beer (NYSE:SAM) Price Target to $230.00

Boston Beer (NYSE:SAM) had its target price decreased by analysts at Piper Sandler from $240.00 to $230.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Piper Sandler’s target price would indicate a potential downside of 3.76% from the stock’s previous close.

SAM has been the topic of a number of other reports. Berenberg Bank started coverage on shares of Boston Beer in a research report on Wednesday, April 2nd. They issued a “hold” rating and a $281.10 price target on the stock. StockNews.com cut shares of Boston Beer from a “buy” rating to a “hold” rating in a report on Wednesday, March 5th. UBS Group lowered their target price on Boston Beer from $315.00 to $290.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Citigroup raised their price target on Boston Beer from $280.00 to $285.00 and gave the stock a “buy” rating in a report on Monday, April 14th. Finally, Roth Mkm restated a “buy” rating and set a $349.00 price objective (down from $389.00) on shares of Boston Beer in a research note on Wednesday, February 26th. Ten research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $293.91.

Boston Beer Trading Up 0.2 %

SAM stock opened at $238.98 on Thursday. The stock’s 50 day simple moving average is $235.44 and its 200 day simple moving average is $270.07. Boston Beer has a 12-month low of $215.10 and a 12-month high of $339.77. The firm has a market cap of $2.69 billion, a P/E ratio of 35.14, a P/E/G ratio of 1.23 and a beta of 1.26.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Blue Trust Inc. raised its position in shares of Boston Beer by 405.6% during the 4th quarter. Blue Trust Inc. now owns 91 shares of the company’s stock worth $26,000 after buying an additional 73 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in Boston Beer by 2,225.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 93 shares of the company’s stock worth $28,000 after purchasing an additional 89 shares during the period. GeoWealth Management LLC bought a new position in Boston Beer during the 4th quarter valued at $35,000. GAMMA Investing LLC raised its stake in shares of Boston Beer by 59.3% in the 4th quarter. GAMMA Investing LLC now owns 129 shares of the company’s stock worth $39,000 after buying an additional 48 shares in the last quarter. Finally, First Horizon Advisors Inc. boosted its stake in Boston Beer by 42.1% during the fourth quarter. First Horizon Advisors Inc. now owns 172 shares of the company’s stock valued at $52,000 after buying an additional 51 shares in the last quarter. 81.13% of the stock is owned by institutional investors and hedge funds.

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.