Cowen and Company Reiterates Underperform Rating for Boston Beer Co. (SAM)
Boston Beer Co. (NYSE:SAM)‘s stock had its “underperform” rating reissued by equities research analysts at Cowen and Company in a research report issued to clients and investors on Wednesday. They presently have a $135.00 price target on the stock, up from their prior price target of $128.00. Cowen and Company’s target price points to a potential downside of 17.08% from the stock’s current price.
Other analysts have also issued reports about the stock. William Blair assumed coverage on shares of Boston Beer in a research report on Wednesday, September 21st. They set an “outperform” rating on the stock. Jefferies Group reissued a “hold” rating on shares of Boston Beer in a report on Wednesday, August 10th. Zacks Investment Research downgraded shares of Boston Beer from a “hold” rating to a “sell” rating in a report on Monday, July 25th. Credit Suisse Group AG began coverage on shares of Boston Beer in a report on Thursday, September 15th. They set an “underperform” rating and a $156.00 price target for the company. Finally, Susquehanna reissued a “hold” rating and set a $165.00 price target on shares of Boston Beer in a report on Sunday, July 3rd. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $174.55.
Boston Beer (NYSE:SAM) traded up 2.89% during midday trading on Wednesday, reaching $162.80. 205,929 shares of the company traded hands. The firm has a market capitalization of $2.00 billion, a price-to-earnings ratio of 24.38 and a beta of 0.64. The firm’s 50 day moving average price is $166.83 and its 200 day moving average price is $168.08. Boston Beer has a 12 month low of $145.33 and a 12 month high of $260.51.
Boston Beer (NYSE:SAM) last posted its earnings results on Thursday, July 21st. The company reported $2.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.94 by $0.12. Boston Beer had a net margin of 9.22% and a return on equity of 19.60%. The business had revenue of $244.80 million for the quarter, compared to analyst estimates of $238.87 million. On average, analysts expect that Boston Beer will post $6.46 earnings per share for the current year.
In other news, insider Martin F. Roper sold 2,157 shares of the company’s stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $154.16, for a total value of $332,523.12. Following the completion of the transaction, the insider now owns 34,430 shares in the company, valued at $5,307,728.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Martin F. Roper sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, August 29th. The shares were sold at an average price of $191.12, for a total transaction of $1,337,840.00. Following the completion of the transaction, the insider now owns 12,273 shares of the company’s stock, valued at approximately $2,345,615.76. The disclosure for this sale can be found here. Corporate insiders own 31.30% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Algert Global LLC raised its stake in shares of Boston Beer by 13.5% in the third quarter. Algert Global LLC now owns 4,122 shares of the company’s stock worth $640,000 after buying an additional 490 shares in the last quarter. Fisher Asset Management LLC raised its stake in Boston Beer by 0.8% in the third quarter. Fisher Asset Management LLC now owns 348,515 shares of the company’s stock valued at $54,110,000 after buying an additional 2,842 shares during the period. Oregon Public Employees Retirement Fund raised its stake in Boston Beer by 2.0% in the third quarter. Oregon Public Employees Retirement Fund now owns 3,264 shares of the company’s stock valued at $507,000 after buying an additional 64 shares during the period. Curbstone Financial Management Corp raised its stake in Boston Beer by 5.3% in the third quarter. Curbstone Financial Management Corp now owns 3,200 shares of the company’s stock valued at $497,000 after buying an additional 160 shares during the period. Finally, Mason Street Advisors LLC purchased a new stake in Boston Beer during the second quarter valued at about $728,000. Institutional investors own 65.23% of the company’s stock.
Boston Beer Company Profile
The Boston Beer Company, Inc (Boston Beer) is a craft brewer in the United States. The Company is engaged in the business of producing and selling alcohol beverages primarily in the domestic market and in international markets. The Company operates through two segments: Boston Beer Company segment and A&S Brewing Collaborative segment.
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