Macquarie set a $460.00 target price on Boston Beer (NYSE:SAM) in a report issued on Tuesday morning, TipRanks reports. The firm currently has a buy rating on the stock.
SAM has been the topic of several other reports. Credit Suisse Group increased their price target on Boston Beer from $320.00 to $375.00 and gave the stock a neutral rating in a report on Friday, July 26th. Cowen upgraded Boston Beer from a market perform rating to an outperform rating and increased their price target for the stock from $386.00 to $450.00 in a report on Thursday. Jefferies Financial Group downgraded Boston Beer from a hold rating to an underperform rating and reduced their price target for the stock from $360.00 to $332.00 in a report on Tuesday, September 3rd. ValuEngine downgraded Boston Beer from a buy rating to a hold rating in a report on Tuesday, October 1st. Finally, BMO Capital Markets upgraded Boston Beer from a market perform rating to an outperform rating and increased their price target for the stock from $350.00 to $410.00 in a report on Thursday, September 26th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of Hold and an average target price of $379.84.
Shares of NYSE SAM traded up $17.86 during midday trading on Tuesday, hitting $401.36. The company’s stock had a trading volume of 100,553 shares, compared to its average volume of 207,707. The business’s 50 day moving average is $386.10 and its two-hundred day moving average is $356.97. Boston Beer has a 12-month low of $230.93 and a 12-month high of $444.64. The firm has a market cap of $4.82 billion, a P/E ratio of 53.73, a price-to-earnings-growth ratio of 4.31 and a beta of 0.63.
Boston Beer (NYSE:SAM) last issued its quarterly earnings results on Thursday, July 25th. The company reported $2.34 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.51. Boston Beer had a return on equity of 22.89% and a net margin of 9.92%. The firm had revenue of $318.40 million for the quarter, compared to the consensus estimate of $308.49 million. During the same period in the prior year, the business posted $1.98 earnings per share. The company’s revenue for the quarter was up 16.6% on a year-over-year basis. As a group, research analysts expect that Boston Beer will post 9.05 EPS for the current year.
In related news, Director Jean Michel Valette sold 2,500 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $380.67, for a total value of $951,675.00. Following the transaction, the director now owns 27,258 shares of the company’s stock, valued at $10,376,302.86. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman C James Koch sold 14,000 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $399.78, for a total value of $5,596,920.00. The disclosure for this sale can be found here. In the last three months, insiders sold 57,519 shares of company stock worth $22,459,445. 28.40% of the stock is owned by insiders.
Large investors have recently made changes to their positions in the stock. Signaturefd LLC bought a new stake in Boston Beer during the 3rd quarter valued at $73,000. State of Alaska Department of Revenue bought a new stake in Boston Beer during the 3rd quarter valued at $593,000. Atria Investments LLC bought a new stake in Boston Beer during the 2nd quarter valued at $214,000. BlackRock Inc. boosted its position in Boston Beer by 1.5% during the 2nd quarter. BlackRock Inc. now owns 1,006,033 shares of the company’s stock valued at $380,039,000 after acquiring an additional 14,768 shares in the last quarter. Finally, Maverick Capital Ltd. boosted its position in Boston Beer by 102.2% during the 2nd quarter. Maverick Capital Ltd. now owns 17,310 shares of the company’s stock valued at $6,539,000 after acquiring an additional 8,750 shares in the last quarter. 71.89% of the stock is currently owned by institutional investors.
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, and hard seltzers under the Samuel Adams, Twisted Tea, Angry Orchard Hard Cider, and Truly Hard Seltzer brand names.
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