Evercore ISI Boosts Boston Beer (NYSE:SAM) Price Target to $325.00

Boston Beer (NYSE:SAM) had its price target boosted by Evercore ISI from $310.00 to $325.00 in a research report sent to investors on Friday morning, Benzinga reports. They currently have an in-line rating on the stock.

Other research analysts have also issued reports about the company. Citigroup lowered their price target on Boston Beer from $350.00 to $315.00 and set a neutral rating for the company in a research report on Tuesday, April 16th. Roth Mkm lifted their target price on Boston Beer from $406.00 to $422.00 and gave the company a buy rating in a research report on Tuesday, January 23rd. Sanford C. Bernstein raised shares of Boston Beer from an underperform rating to a market perform rating and increased their price target for the stock from $280.00 to $335.00 in a research report on Tuesday, January 16th. The Goldman Sachs Group lowered their price objective on shares of Boston Beer from $257.00 to $250.00 and set a sell rating for the company in a research note on Tuesday, April 9th. Finally, UBS Group cut their target price on shares of Boston Beer from $390.00 to $355.00 and set a neutral rating on the stock in a research note on Wednesday, February 28th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of Hold and an average price target of $335.21.

Boston Beer Trading Up 0.8 %

Shares of NYSE:SAM opened at $285.57 on Friday. The business has a 50-day moving average price of $302.38 and a 200 day moving average price of $332.89. Boston Beer has a 12-month low of $274.78 and a 12-month high of $395.52. The company has a market capitalization of $3.43 billion, a price-to-earnings ratio of 35.83, a PEG ratio of 1.16 and a beta of 1.02.

Boston Beer (NYSE:SAM) last released its quarterly earnings results on Thursday, April 25th. The company reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.96. The business had revenue of $426.05 million for the quarter, compared to the consensus estimate of $414.18 million. Boston Beer had a net margin of 4.60% and a return on equity of 10.11%. As a group, equities research analysts predict that Boston Beer will post 9.91 earnings per share for the current fiscal year.

Insider Buying and Selling at Boston Beer

In other news, insider Carolyn L. O’boyle sold 101 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $303.49, for a total value of $30,652.49. Following the transaction, the insider now owns 7,029 shares in the company, valued at approximately $2,133,231.21. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider Carolyn L. O’boyle sold 101 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $303.49, for a total value of $30,652.49. Following the completion of the transaction, the insider now owns 7,029 shares in the company, valued at approximately $2,133,231.21. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Carolyn L. O’boyle sold 102 shares of Boston Beer stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $350.72, for a total transaction of $35,773.44. Following the sale, the insider now owns 2,630 shares in the company, valued at $922,393.60. The disclosure for this sale can be found here. 24.00% of the stock is owned by insiders.

Institutional Trading of Boston Beer

Large investors have recently made changes to their positions in the company. National Bank of Canada FI boosted its holdings in shares of Boston Beer by 20.5% in the third quarter. National Bank of Canada FI now owns 664 shares of the company’s stock valued at $259,000 after acquiring an additional 113 shares during the period. CWM LLC grew its position in Boston Beer by 264.2% during the 3rd quarter. CWM LLC now owns 193 shares of the company’s stock worth $75,000 after purchasing an additional 140 shares during the last quarter. HGK Asset Management Inc. increased its stake in Boston Beer by 19.3% in the third quarter. HGK Asset Management Inc. now owns 1,597 shares of the company’s stock valued at $622,000 after purchasing an additional 258 shares during the period. Mission Wealth Management LP purchased a new stake in shares of Boston Beer in the third quarter valued at about $227,000. Finally, Dakota Wealth Management acquired a new stake in shares of Boston Beer during the third quarter worth about $273,000. 81.13% of the stock is owned by institutional investors and hedge funds.

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.