Boston Beer (NYSE:SAM) Earns Buy Rating from Roth Mkm

Boston Beer (NYSE:SAM)‘s stock had its “buy” rating reaffirmed by equities research analysts at Roth Mkm in a research note issued on Wednesday,Benzinga reports. They currently have a $349.00 price target on the stock, down from their prior price target of $389.00. Roth Mkm’s target price suggests a potential upside of 43.23% from the company’s previous close.

Other equities research analysts have also issued research reports about the stock. Needham & Company LLC initiated coverage on shares of Boston Beer in a report on Friday, December 6th. They issued a “hold” rating on the stock. Morgan Stanley decreased their price objective on shares of Boston Beer from $290.00 to $270.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Piper Sandler cut shares of Boston Beer from an “overweight” rating to a “neutral” rating and cut their target price for the company from $370.00 to $275.00 in a research note on Thursday, January 23rd. StockNews.com upgraded Boston Beer from a “hold” rating to a “buy” rating in a research report on Tuesday. Finally, Citigroup dropped their price target on Boston Beer from $335.00 to $290.00 and set a “neutral” rating for the company in a report on Wednesday, January 15th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Boston Beer currently has an average rating of “Hold” and a consensus price target of $293.40.

Boston Beer Price Performance

Shares of NYSE:SAM opened at $243.67 on Wednesday. The business’s fifty day moving average price is $258.51 and its two-hundred day moving average price is $280.52. Boston Beer has a fifty-two week low of $222.27 and a fifty-two week high of $339.77. The stock has a market capitalization of $2.80 billion, a price-to-earnings ratio of 35.83, a price-to-earnings-growth ratio of 1.23 and a beta of 1.06.

Institutional Investors Weigh In On Boston Beer

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Blue Trust Inc. boosted its holdings in Boston Beer by 405.6% in the fourth quarter. Blue Trust Inc. now owns 91 shares of the company’s stock valued at $26,000 after acquiring an additional 73 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in Boston Beer by 2,225.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 93 shares of the company’s stock valued at $28,000 after purchasing an additional 89 shares during the period. First Horizon Advisors Inc. boosted its stake in shares of Boston Beer by 105.1% in the 3rd quarter. First Horizon Advisors Inc. now owns 121 shares of the company’s stock valued at $35,000 after purchasing an additional 62 shares during the last quarter. GeoWealth Management LLC acquired a new stake in shares of Boston Beer during the 4th quarter worth approximately $35,000. Finally, Covestor Ltd raised its stake in shares of Boston Beer by 36.6% during the third quarter. Covestor Ltd now owns 127 shares of the company’s stock worth $37,000 after buying an additional 34 shares during the last quarter. Institutional investors 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.