Craft Brew Alliance (NASDAQ:BREW) Downgraded to Hold at Zacks Investment Research

Craft Brew Alliance (NASDAQ:BREW) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Friday, March 9th.

According to Zacks, “Craft Brew Alliance Inc. is engaged in the business of brewing, marketing and selling of craft beers in the United States. The Company operates in two segments: Beer Related operations and Pubs and Other. Craft Brew owns and operates production breweries with adjacent restaurants or pubs in Portland, Oregon, Woodinville, Washington and Portsmouth, New Hampshire and in Kona, Hawaii. It offers its beer products under the Widmer Brothers, Redhook and Kona Brewing brand names. Craft Brew Alliance Inc., formerly known as Craft Brewers Alliance, Inc., is headquartered in Portland, Oregon. “

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Several other equities research analysts have also commented on BREW. BidaskClub upgraded Craft Brew Alliance from a “sell” rating to a “hold” rating in a research report on Wednesday, March 7th. Citigroup increased their target price on Craft Brew Alliance from $21.00 to $22.00 and gave the company a “neutral” rating in a research report on Tuesday, February 6th. Stifel Nicolaus initiated coverage on Craft Brew Alliance in a research report on Tuesday, December 5th. They set a “hold” rating and a $19.00 target price on the stock. Susquehanna Bancshares set a $22.00 target price on Craft Brew Alliance and gave the company a “buy” rating in a research report on Monday, December 11th. Finally, BMO Capital Markets started coverage on Craft Brew Alliance in a research report on Monday, February 5th. They set a “market perform” rating and a $19.00 target price on the stock. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $20.67.

NASDAQ:BREW traded down $0.35 during midday trading on Friday, hitting $18.25. The company’s stock had a trading volume of 62,876 shares, compared to its average volume of 70,880. The company has a current ratio of 2.21, a quick ratio of 1.77 and a debt-to-equity ratio of 0.25. Craft Brew Alliance has a fifty-two week low of $12.00 and a fifty-two week high of $20.10. The company has a market cap of $359.16, a PE ratio of 131.43 and a beta of 0.45.

Craft Brew Alliance (NASDAQ:BREW) last released its quarterly earnings data on Wednesday, March 7th. The company reported $0.05 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.01. Craft Brew Alliance had a return on equity of 2.13% and a net margin of 4.59%. The business had revenue of $45.97 million for the quarter, compared to analyst estimates of $45.93 million. During the same quarter in the prior year, the firm posted $0.02 EPS. The business’s quarterly revenue was up .4% compared to the same quarter last year. equities research analysts predict that Craft Brew Alliance will post 0.39 earnings per share for the current fiscal year.

Hedge funds have recently made changes to their positions in the business. MetLife Investment Advisors LLC acquired a new stake in shares of Craft Brew Alliance in the 4th quarter worth $126,000. Stone Ridge Asset Management LLC acquired a new stake in shares of Craft Brew Alliance in the 4th quarter worth $192,000. The Manufacturers Life Insurance Company increased its stake in shares of Craft Brew Alliance by 15.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 12,325 shares of the company’s stock worth $207,000 after acquiring an additional 1,638 shares during the last quarter. Cornerstone Capital Management Holdings LLC. acquired a new stake in shares of Craft Brew Alliance in the 3rd quarter worth $248,000. Finally, Perkins Capital Management Inc. increased its stake in shares of Craft Brew Alliance by 41.4% in the 4th quarter. Perkins Capital Management Inc. now owns 17,750 shares of the company’s stock worth $341,000 after acquiring an additional 5,200 shares during the last quarter. Institutional investors own 34.70% of the company’s stock.

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About Craft Brew Alliance

Craft Brew Alliance, Inc brews and sells craft beers and ciders in the United States and internationally. It operates through two segments, Beer Related Operations and Brewpubs Operations. It offers beers under the Kona, Widmer Brothers, Redhook, and Omission brands; and ciders under the Square Mile brand name.

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