BidaskClub upgraded shares of Craft Brew Alliance, Inc. (NASDAQ:BREW) from a hold rating to a buy rating in a research note released on Wednesday morning.

A number of other brokerages have also commented on BREW. Cowen and Company reaffirmed an outperform rating and issued a $20.00 price target (up previously from $19.00) on shares of Craft Brew Alliance in a research note on Wednesday. Zacks Investment Research lowered Craft Brew Alliance from a strong-buy rating to a hold rating in a research note on Monday, July 17th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of Buy and an average price target of $20.00.

Shares of Craft Brew Alliance (BREW) traded up 2.22% on Wednesday, hitting $18.45. 135,097 shares of the stock were exchanged. The company has a market cap of $355.96 million, a price-to-earnings ratio of 683.33 and a beta of 0.47. The company has a 50 day moving average of $17.63 and a 200 day moving average of $15.65. Craft Brew Alliance has a 52-week low of $12.00 and a 52-week high of $22.40.

Craft Brew Alliance (NASDAQ:BREW) last issued its earnings results on Wednesday, August 2nd. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by $0.02. Craft Brew Alliance had a return on equity of 0.80% and a net margin of 0.27%. The firm had revenue of $60.55 million during the quarter, compared to the consensus estimate of $58.54 million. During the same quarter in the prior year, the business posted $0.12 EPS. The firm’s revenue for the quarter was down 2.8% on a year-over-year basis. Equities research analysts forecast that Craft Brew Alliance will post $0.14 earnings per share for the current year.

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In other Craft Brew Alliance news, CEO Andrew J. Thomas sold 4,000 shares of the firm’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $18.14, for a total transaction of $72,560.00. Following the completion of the transaction, the chief executive officer now owns 7,834 shares of the company’s stock, valued at $142,108.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 3.70% of the company’s stock.

A number of institutional investors have recently made changes to their positions in BREW. Dimensional Fund Advisors LP increased its position in shares of Craft Brew Alliance by 3.3% in the first quarter. Dimensional Fund Advisors LP now owns 1,265,394 shares of the company’s stock valued at $16,893,000 after buying an additional 40,152 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Craft Brew Alliance by 4.6% in the second quarter. Vanguard Group Inc. now owns 385,787 shares of the company’s stock valued at $6,500,000 after buying an additional 16,970 shares during the last quarter. Kennedy Capital Management Inc. increased its position in shares of Craft Brew Alliance by 14.4% in the second quarter. Kennedy Capital Management Inc. now owns 319,249 shares of the company’s stock valued at $5,379,000 after buying an additional 40,248 shares during the last quarter. Balter Liquid Alternatives LLC increased its position in shares of Craft Brew Alliance by 32.8% in the second quarter. Balter Liquid Alternatives LLC now owns 205,301 shares of the company’s stock valued at $3,459,000 after buying an additional 50,749 shares during the last quarter. Finally, State Street Corp increased its position in shares of Craft Brew Alliance by 4.4% in the fourth quarter. State Street Corp now owns 185,074 shares of the company’s stock valued at $3,128,000 after buying an additional 7,825 shares during the last quarter. 32.36% of the stock is owned by institutional investors and hedge funds.

About Craft Brew Alliance

Craft Brew Alliance, Inc is a craft brewing company that is engaged in brewing, branding and bringing to market American craft beers. The Company operates through two segments: Beer Related operations, which include the brewing operations and related domestic and international beer and cider sales of its Kona, Widmer Brothers, Redhook and Omission beer brands, and Square Mile cider brand, and Pubs operations, which include its approximately five pubs, over four of which are located adjacent to its Beer Related operations, as well as other merchandise sales, and sales of its beers directly to customers.

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