Boston Beer (NYSE:SAM) had its target price hoisted by Guggenheim from $372.00 to $421.00 in a research note published on Friday morning, Briefing.com Automated Import reports. The firm currently has a buy rating on the stock.

A number of other equities analysts have also recently issued reports on SAM. Macquarie upped their price objective on Boston Beer from $325.00 to $365.00 and gave the stock a neutral rating in a report on Friday, May 10th. Goldman Sachs Group began coverage on Colfax in a report on Friday, April 5th. They issued a buy rating and a $34.00 price objective for the company. ValuEngine cut Ultrapar Participacoes from a sell rating to a strong sell rating in a report on Thursday, April 25th. Credit Suisse Group cut Air China from a neutral rating to an underperform rating in a report on Monday, June 10th. Finally, Zacks Investment Research cut Hancock Jaffe Laboratories from a buy rating to a hold rating in a report on Wednesday, June 26th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of $305.52.

SAM opened at $386.92 on Friday. The business has a 50-day moving average price of $351.13. Boston Beer has a 12-month low of $230.93 and a 12-month high of $401.05. The stock has a market cap of $4.63 billion, a PE ratio of 51.80, a P/E/G ratio of 4.62 and a beta of 0.68.

Boston Beer (NYSE:SAM) last posted its quarterly earnings data on Wednesday, April 24th. The company reported $1.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.98. Boston Beer had a return on equity of 23.00% and a net margin of 9.94%. The firm had revenue of $252.00 million during the quarter, compared to analysts’ expectations of $232.19 million. During the same period in the prior year, the business earned $0.55 EPS. The company’s revenue for the quarter was up 32.3% compared to the same quarter last year. On average, equities analysts anticipate that Boston Beer will post 8.59 earnings per share for the current fiscal year.

In related news, CEO David A. Burwick sold 5,105 shares of the stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $303.57, for a total transaction of $1,549,724.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP David L. Grinnell sold 500 shares of the stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $342.50, for a total value of $171,250.00. The disclosure for this sale can be found here. Insiders have sold a total of 7,105 shares of company stock valued at $2,230,975 over the last 90 days. 28.40% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. 6 Meridian increased its position in Boston Beer by 1.3% during the 2nd quarter. 6 Meridian now owns 2,038 shares of the company’s stock valued at $770,000 after buying an additional 27 shares in the last quarter. Diversified Trust Co bought a new position in Boston Beer during the 2nd quarter valued at approximately $227,000. Retirement Systems of Alabama increased its position in Boston Beer by 0.4% during the 2nd quarter. Retirement Systems of Alabama now owns 11,377 shares of the company’s stock valued at $4,298,000 after buying an additional 42 shares in the last quarter. Dorsey Wright & Associates increased its position in Boston Beer by 171.6% during the 2nd quarter. Dorsey Wright & Associates now owns 16,146 shares of the company’s stock valued at $6,099,000 after buying an additional 10,201 shares in the last quarter. Finally, First Trust Advisors LP increased its position in Boston Beer by 3.5% during the 1st quarter. First Trust Advisors LP now owns 10,480 shares of the company’s stock valued at $3,089,000 after buying an additional 356 shares in the last quarter. Institutional investors and hedge funds own 73.77% of the company’s stock.

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, and hard seltzers under the Samuel Adams, Twisted Tea, Angry Orchard Hard Cider, and Truly Hard Seltzer brand names.

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Analyst Recommendations for Boston Beer (NYSE:SAM)

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