Cowen and Company reissued their buy rating on shares of Craft Brew Alliance, Inc. (NASDAQ:BREW) in a research note issued to investors on Tuesday. The brokerage currently has a $20.00 price target on the stock.

Other analysts have also recently issued research reports about the company. BidaskClub raised Craft Brew Alliance from a hold rating to a buy rating in a research report on Wednesday, August 9th. Zacks Investment Research raised Craft Brew Alliance from a hold rating to a buy rating and set a $20.00 price target for the company in a research report on Tuesday, July 18th. Finally, ValuEngine raised Craft Brew Alliance from a sell rating to a hold rating in a research report on Friday, September 1st. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Craft Brew Alliance has an average rating of Buy and an average target price of $20.50.

Craft Brew Alliance (BREW) traded up 0.87% on Tuesday, reaching $17.35. The company’s stock had a trading volume of 51,383 shares. The firm’s 50 day moving average price is $17.94 and its 200-day moving average price is $16.01. The company has a market capitalization of $334.73 million, a price-to-earnings ratio of 642.59 and a beta of 0.50. Craft Brew Alliance has a 1-year low of $12.00 and a 1-year high of $21.18.

Craft Brew Alliance (NASDAQ:BREW) last issued its quarterly earnings results on Wednesday, August 2nd. The company reported $0.09 EPS for the quarter, missing the Zacks’ 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 for the quarter, compared to analyst estimates of $58.54 million. During the same period in the prior year, the firm posted $0.12 EPS. The business’s revenue was down 2.8% compared to the same quarter last year. Equities 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 Craft Brew Alliance stock in a transaction dated 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 sale, the chief executive officer now owns 7,834 shares of the company’s stock, valued at approximately $142,108.76. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 3.70% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Perkins Capital Management Inc. lifted its holdings in shares of Craft Brew Alliance by 0.8% in the 2nd quarter. Perkins Capital Management Inc. now owns 12,550 shares of the company’s stock valued at $211,000 after buying an additional 100 shares during the period. Parametric Portfolio Associates LLC lifted its holdings in shares of Craft Brew Alliance by 2.9% in the 1st quarter. Parametric Portfolio Associates LLC now owns 16,906 shares of the company’s stock valued at $226,000 after buying an additional 476 shares during the period. American International Group Inc. lifted its holdings in shares of Craft Brew Alliance by 7.0% in the 1st quarter. American International Group Inc. now owns 7,778 shares of the company’s stock valued at $104,000 after buying an additional 510 shares during the period. TIAA CREF Investment Management LLC lifted its holdings in shares of Craft Brew Alliance by 3.4% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 32,878 shares of the company’s stock valued at $554,000 after buying an additional 1,081 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Craft Brew Alliance by 15.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 12,325 shares of the company’s stock valued at $207,000 after buying an additional 1,638 shares during the period. 32.33% 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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