Morgan Stanley Has Lowered Expectations for Boston Beer (NYSE:SAM) Stock Price

Boston Beer (NYSE:SAM) had its target price dropped by equities research analysts at Morgan Stanley from $270.00 to $245.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s price target suggests a potential upside of 13.98% from the company’s current price.

Several other analysts have also weighed in on the company. Piper Sandler decreased their price target on Boston Beer from $240.00 to $230.00 and set a “neutral” rating on the stock in a report on Thursday, April 17th. 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 lowered their target price on shares of Boston Beer from $275.00 to $214.00 and set a “neutral” rating for the company in a report on Thursday, July 17th. Berenberg Bank started coverage on shares of Boston Beer in a research note on Wednesday, April 2nd. They set a “hold” rating and a $281.10 price target for the company. Finally, Needham & Company LLC reissued a “hold” rating on shares of Boston Beer in a research report on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Boston Beer has an average rating of “Hold” and an average target price of $258.09.

Boston Beer Stock Up 6.5%

Boston Beer stock opened at $214.95 on Friday. The company’s 50-day moving average price is $209.55 and its 200-day moving average price is $230.01. The company has a market cap of $2.40 billion, a PE ratio of 30.32, a price-to-earnings-growth ratio of 1.58 and a beta of 0.99. Boston Beer has a twelve month low of $185.34 and a twelve month high of $329.55.

Boston Beer (NYSE:SAM) last released its quarterly earnings results on Thursday, July 24th. The company reported $5.45 EPS for the quarter, topping the consensus estimate of $4.37 by $1.08. Boston Beer had a return on equity of 15.03% and a net margin of 3.65%. The company had revenue of $587.95 million during the quarter, compared to analyst estimates of $599.18 million. During the same quarter last year, the business posted $4.39 earnings per share. The firm’s revenue was up 1.5% on a year-over-year basis. As a group, sell-side analysts expect that Boston Beer will post 9.29 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Boston Beer

Hedge funds and other institutional investors have recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Boston Beer during the fourth quarter valued at $30,741,000. Millennium Management LLC lifted its position in Boston Beer by 97.3% during the 1st quarter. Millennium Management LLC now owns 185,898 shares of the company’s stock worth $44,400,000 after acquiring an additional 91,667 shares during the period. Armistice Capital LLC lifted its position in Boston Beer by 72.7% during the 1st quarter. Armistice Capital LLC now owns 210,553 shares of the company’s stock worth $50,288,000 after acquiring an additional 88,624 shares during the period. J. Goldman & Co LP grew its stake in Boston Beer by 251.8% during the 4th quarter. J. Goldman & Co LP now owns 119,687 shares of the company’s stock valued at $35,904,000 after purchasing an additional 85,669 shares during the last quarter. Finally, Cooper Creek Partners Management LLC acquired a new position in shares of Boston Beer in the fourth quarter valued at about $25,054,000. Hedge funds and other institutional investors 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.