TheStreet Downgrades Craft Brew Alliance Inc. (BREW) to Hold
Craft Brew Alliance Inc. (NASDAQ:BREW) was downgraded by equities researchers at TheStreet from a “buy” rating to a “hold” rating in a research note issued on Thursday.
BREW has been the topic of several other research reports. Zacks Investment Research raised Craft Brew Alliance from a “hold” rating to a “buy” rating and set a $22.00 price objective on the stock in a research report on Tuesday, September 27th. Citigroup Inc. upped their price objective on Craft Brew Alliance from $14.00 to $20.00 and gave the company a “neutral” rating in a research report on Friday, September 2nd. Finally, Sidoti raised Craft Brew Alliance from a “neutral” rating to a “buy” rating in a research report on Thursday, August 4th.
Craft Brew Alliance (NASDAQ:BREW) opened at 16.40 on Thursday. The stock has a 50 day moving average price of $17.26 and a 200 day moving average price of $13.74. Craft Brew Alliance has a 52-week low of $6.80 and a 52-week high of $22.40. The stock has a market cap of $315.81 million, a price-to-earnings ratio of 364.44 and a beta of 0.53.
Craft Brew Alliance (NASDAQ:BREW) last announced its quarterly earnings data on Wednesday, November 2nd. The company reported $0.03 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by $0.09. The business earned $58.70 million during the quarter, compared to the consensus estimate of $59.09 million. Craft Brew Alliance had a net margin of 0.42% and a return on equity of 0.73%. The business’s revenue was up .3% compared to the same quarter last year. During the same period last year, the company earned $0.04 EPS. Analysts expect that Craft Brew Alliance will post $0.11 EPS for the current fiscal year.
In related news, Director John D. Rogers, Jr. sold 12,376 shares of the company’s stock in a transaction on Friday, August 26th. The stock was sold at an average price of $20.05, for a total transaction of $248,138.80. Following the completion of the sale, the director now directly owns 29,301 shares in the company, valued at approximately $587,485.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Joseph Kirk Vanderstelt acquired 4,920 shares of the firm’s stock in a transaction that occurred on Thursday, November 10th. The shares were bought at an average price of $15.40 per share, with a total value of $75,768.00. Following the completion of the purchase, the chief financial officer now directly owns 4,920 shares in the company, valued at $75,768. The disclosure for this purchase can be found here. Insiders own 3.40% of the company’s stock.
Several large investors have recently modified their holdings of BREW. Acadian Asset Management LLC bought a new stake in shares of Craft Brew Alliance during the third quarter worth $115,000. BlackRock Advisors LLC boosted its stake in shares of Craft Brew Alliance by 19.0% in the third quarter. BlackRock Advisors LLC now owns 6,325 shares of the company’s stock worth $119,000 after buying an additional 1,009 shares during the period. Morgan Stanley boosted its stake in shares of Craft Brew Alliance by 87.4% in the third quarter. Morgan Stanley now owns 6,373 shares of the company’s stock worth $120,000 after buying an additional 2,972 shares during the period. PEAK6 Investments L.P. bought a new stake in shares of Craft Brew Alliance during the second quarter worth $121,000. Finally, Nationwide Fund Advisors boosted its stake in shares of Craft Brew Alliance by 7.5% in the second quarter. Nationwide Fund Advisors now owns 12,705 shares of the company’s stock worth $146,000 after buying an additional 884 shares during the period. Hedge funds and other institutional investors own 22.23% 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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