Citigroup Issues Pessimistic Forecast for Boston Beer (NYSE:SAM) Stock Price

Boston Beer (NYSE:SAM) had its target price lowered by stock analysts at Citigroup from $285.00 to $230.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Citigroup’s target price points to a potential upside of 19.78% from the company’s current price.

Several other research analysts have also recently issued reports on SAM. Cfra Research upgraded shares of Boston Beer from a “moderate sell” rating to a “moderate buy” rating in a report on Thursday, April 24th. Royal Bank Of Canada restated a “sector perform” rating and issued a $279.00 target price on shares of Boston Beer in a research report on Tuesday, April 22nd. Wall Street Zen lowered Boston Beer from a “buy” rating to a “hold” rating in a research note on Friday, June 27th. UBS Group boosted their price objective on Boston Beer from $265.00 to $279.00 and gave the stock a “neutral” rating in a research note on Thursday, April 17th. Finally, Berenberg Bank assumed coverage on Boston Beer in a research note on Wednesday, April 2nd. They set a “hold” rating and a $281.10 target price for the company. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $267.01.

Boston Beer Price Performance

SAM opened at $192.02 on Tuesday. The stock’s 50 day moving average price is $215.48 and its 200 day moving average price is $234.80. The stock has a market cap of $2.14 billion, a P/E ratio of 31.84, a P/E/G ratio of 1.41 and a beta of 0.99. Boston Beer has a 12 month low of $185.34 and a 12 month high of $329.55.

Boston Beer (NYSE:SAM) last released its quarterly earnings results on Thursday, April 24th. The company reported $2.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $1.38. Boston Beer had a return on equity of 13.81% and a net margin of 3.30%. The company had revenue of $481.36 million during the quarter, compared to analysts’ expectations of $436.27 million. During the same quarter in the prior year, the business posted $1.04 earnings per share. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. Equities analysts anticipate that Boston Beer will post 9.29 EPS for the current year.

Institutional Investors Weigh In On Boston Beer

Large investors have recently made changes to their positions in the company. Rossby Financial LCC acquired a new position in Boston Beer in the 1st quarter worth approximately $25,000. EverSource Wealth Advisors LLC boosted its position in shares of 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 buying an additional 89 shares during the period. Elequin Capital LP purchased a new position in shares of Boston Beer during the first quarter valued at $30,000. GeoWealth Management LLC purchased a new position in shares of Boston Beer during the fourth quarter valued at $35,000. Finally, Caitong International Asset Management Co. Ltd acquired a new position in Boston Beer during the first quarter valued at $44,000. Institutional investors and hedge funds own 81.13% of the company’s stock.

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.