Craft Brew Alliance Inc. (BREW) Upgraded to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of Craft Brew Alliance Inc. (NASDAQ:BREW) from a hold rating to a buy rating in a research note released on Tuesday morning. Zacks Investment Research currently has $22.00 price target on the stock.
According to Zacks, “Craft Brew Alliance Inc. is engaged in the business of brewing, marketing and selling of craft beers in the United States. The Company operates in two segments: Beer Related operations and Pubs and Other. Craft Brew owns and operates production breweries with adjacent restaurants or pubs in Portland, Oregon, Woodinville, Washington and Portsmouth, New Hampshire and in Kona, Hawaii. It offers its beer products under the Widmer Brothers, Redhook and Kona Brewing brand names. Craft Brew Alliance Inc., formerly known as Craft Brewers Alliance, Inc., is headquartered in Portland, Oregon. “
A number of other analysts have also commented on BREW. Citigroup Inc. cut their price target on Craft Brew Alliance from $10.00 to $9.00 and set a neutral rating on the stock in a report on Wednesday, June 15th. Sidoti upgraded Craft Brew Alliance from a neutral rating to a buy rating in a report on Thursday, August 4th. Finally, TheStreet upgraded Craft Brew Alliance from a hold rating to a buy rating in a report on Wednesday, August 10th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. The company has an average rating of Buy and an average price target of $21.00.
Craft Brew Alliance (NASDAQ:BREW) traded down 1.609% during midday trading on Tuesday, hitting $18.891. The stock had a trading volume of 19,922 shares. The firm has a market cap of $363.41 million, a P/E ratio of 349.833 and a beta of 0.63. Craft Brew Alliance has a 52 week low of $6.80 and a 52 week high of $22.40. The stock has a 50-day moving average of $18.02 and a 200-day moving average of $11.76.
Craft Brew Alliance (NASDAQ:BREW) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by $0.02. The firm earned $62.28 million during the quarter, compared to the consensus estimate of $61.52 million. Craft Brew Alliance had a net margin of 0.51% and a return on equity of 0.89%. The business’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.07 earnings per share. Analysts forecast that Craft Brew Alliance will post $0.26 EPS for the current fiscal year.
In other Craft Brew Alliance news, Director John D. Rogers, Jr. sold 12,376 shares of the company’s stock in a transaction that occurred on Friday, August 26th. The stock was sold at an average price of $20.05, for a total value of $248,138.80. Following the sale, the director now owns 29,301 shares in the company, valued at $587,485.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 3.40% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the stock. BlackRock Fund Advisors raised its stake in Craft Brew Alliance by 24.9% in the second quarter. BlackRock Fund Advisors now owns 326,729 shares of the company’s stock valued at $3,764,000 after buying an additional 65,124 shares in the last quarter. BlackRock Investment Management LLC raised its stake in Craft Brew Alliance by 15.3% in the second quarter. BlackRock Investment Management LLC now owns 45,709 shares of the company’s stock valued at $527,000 after buying an additional 6,050 shares in the last quarter. Vanguard Group Inc. raised its stake in Craft Brew Alliance by 1.5% in the second quarter. Vanguard Group Inc. now owns 419,185 shares of the company’s stock valued at $4,829,000 after buying an additional 6,064 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Craft Brew Alliance by 1.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,105,244 shares of the company’s stock valued at $12,732,000 after buying an additional 12,364 shares in the last quarter. Finally, Nationwide Fund Advisors raised its stake in Craft Brew Alliance by 7.5% in the second quarter. Nationwide Fund Advisors now owns 12,705 shares of the company’s stock valued at $146,000 after buying an additional 884 shares in the last quarter. Hedge funds and other institutional investors own 22.17% of the company’s stock.
Craft Brew Alliance Company Profile
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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