Maxim Group assumed coverage on shares of Craft Brew Alliance (NASDAQ:BREW) in a research note released on Friday, Benzinga reports. The brokerage issued a buy rating and a $21.00 price objective on the stock.
BREW has been the subject of several other reports. BidaskClub cut Craft Brew Alliance from a hold rating to a sell rating in a report on Thursday, February 7th. Zacks Investment Research raised Craft Brew Alliance from a sell rating to a hold rating in a report on Monday, January 14th. Finally, TheStreet cut Craft Brew Alliance from a b- rating to a c+ rating in a report on Friday, March 22nd. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $20.40.
NASDAQ:BREW opened at $14.77 on Friday. The company has a market cap of $293.84 million, a P/E ratio of 72.19 and a beta of 0.40. The company has a quick ratio of 0.91, a current ratio of 1.36 and a debt-to-equity ratio of 0.34. Craft Brew Alliance has a 1-year low of $13.15 and a 1-year high of $21.00.
Craft Brew Alliance (NASDAQ:BREW) last released its quarterly earnings results on Wednesday, March 6th. The company reported ($0.03) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by ($0.04). The firm had revenue of $46.30 million for the quarter, compared to analyst estimates of $46.54 million. Craft Brew Alliance had a return on equity of 3.07% and a net margin of 1.94%. The business’s revenue for the quarter was down 4.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.05 earnings per share. As a group, equities research analysts forecast that Craft Brew Alliance will post 0.23 earnings per share for the current year.
In other Craft Brew Alliance news, Director Nickolas A. Mills sold 2,610 shares of Craft Brew Alliance stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $15.28, for a total value of $39,880.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 3.80% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Algert Global LLC acquired a new position in Craft Brew Alliance in the 4th quarter valued at $372,000. Financial Advocates Investment Management raised its holdings in Craft Brew Alliance by 17.7% in the 4th quarter. Financial Advocates Investment Management now owns 6,646 shares of the company’s stock valued at $81,000 after acquiring an additional 1,000 shares in the last quarter. Alambic Investment Management L.P. acquired a new position in Craft Brew Alliance in the 4th quarter valued at $320,000. Vanguard Group Inc. raised its holdings in Craft Brew Alliance by 11.2% in the 3rd quarter. Vanguard Group Inc. now owns 542,929 shares of the company’s stock valued at $8,877,000 after acquiring an additional 54,590 shares in the last quarter. Finally, Vanguard Group Inc raised its holdings in Craft Brew Alliance by 11.2% in the 3rd quarter. Vanguard Group Inc now owns 542,929 shares of the company’s stock valued at $8,877,000 after acquiring an additional 54,590 shares in the last quarter. 37.36% of the stock is owned by hedge funds and other institutional investors.
Craft Brew Alliance Company Profile
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, Omission, Appalachian Mountain, Cisco, Redhook, Widmer Brothers, and Wynwood brands; and ciders under the Square Mile brand name.
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