Sanford C. Bernstein Issues Pessimistic Forecast for Boston Beer (NYSE:SAM) Stock Price

Boston Beer (NYSE:SAM) had its price target dropped by Sanford C. Bernstein from $270.00 to $230.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a “market perform” rating on the stock. Sanford C. Bernstein’s target price points to a potential upside of 16.37% from the stock’s previous close.

SAM has been the subject of a number of other research reports. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $279.00 price objective on shares of Boston Beer in a research note on Tuesday, April 22nd. Cfra Research raised shares of Boston Beer from a “moderate sell” rating to a “moderate buy” rating in a research note on Thursday, April 24th. UBS Group raised their price objective on shares of Boston Beer from $265.00 to $279.00 and gave the stock a “neutral” rating in a research note on Thursday, April 17th. Wall Street Zen lowered shares of Boston Beer from a “buy” rating to a “hold” rating in a research note on Friday, June 27th. Finally, Citigroup raised their price objective on shares of Boston Beer from $280.00 to $285.00 and gave the stock a “buy” rating in a research note on Monday, April 14th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $272.01.

Boston Beer Stock Performance

Shares of NYSE:SAM opened at $197.64 on Wednesday. The stock has a market capitalization of $2.20 billion, a price-to-earnings ratio of 32.78, a PEG ratio of 1.42 and a beta of 0.99. Boston Beer has a 1-year low of $185.34 and a 1-year high of $329.55. The company has a 50 day moving average price of $219.39 and a 200 day moving average price of $237.79.

Boston Beer (NYSE:SAM) last issued its earnings results on Thursday, April 24th. The company reported $2.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $1.38. The firm had revenue of $481.36 million during the quarter, compared to analysts’ expectations of $436.27 million. Boston Beer had a net margin of 3.30% and a return on equity of 13.81%. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period last year, the firm posted $1.04 earnings per share. On average, sell-side analysts expect that Boston Beer will post 9.29 EPS for the current fiscal year.

Institutional Investors Weigh In On Boston Beer

A number of institutional investors have recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Boston Beer by 28.5% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 2,022 shares of the company’s stock valued at $407,000 after buying an additional 448 shares during the period. Parallel Advisors LLC boosted its stake in shares of Boston Beer by 34.1% during the 2nd quarter. Parallel Advisors LLC now owns 673 shares of the company’s stock valued at $128,000 after buying an additional 171 shares during the period. Voya Investment Management LLC raised its holdings in shares of Boston Beer by 29.1% during the 1st quarter. Voya Investment Management LLC now owns 6,713 shares of the company’s stock valued at $1,603,000 after purchasing an additional 1,513 shares in the last quarter. Intech Investment Management LLC raised its holdings in shares of Boston Beer by 300.6% during the 1st quarter. Intech Investment Management LLC now owns 8,097 shares of the company’s stock valued at $1,934,000 after purchasing an additional 6,076 shares in the last quarter. Finally, Plato Investment Management Ltd bought a new position in shares of Boston Beer during the 1st quarter valued at $104,000. Institutional investors and hedge funds own 81.13% of the company’s stock.

Boston Beer Company Profile

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.