Boston Beer (NYSE:SAM) Upgraded to “Buy” by Jefferies Financial Group

Jefferies Financial Group upgraded shares of Boston Beer (NYSE:SAMFree Report) from a hold rating to a buy rating in a research note published on Tuesday morning, Benzinga reports. Jefferies Financial Group currently has $360.00 price objective on the stock, up from their previous price objective of $335.00.

Several other equities research analysts have also recently issued reports on the stock. StockNews.com upgraded shares of Boston Beer from a hold rating to a buy rating in a report on Friday, May 10th. Royal Bank of Canada reiterated a sector perform rating and set a $337.00 price objective on shares of Boston Beer in a research report on Wednesday, February 28th. Morgan Stanley cut their price target on Boston Beer from $285.00 to $275.00 and set an underweight rating for the company in a research note on Wednesday, February 28th. Roth Mkm increased their price objective on shares of Boston Beer from $406.00 to $422.00 and gave the stock a buy rating in a research note on Tuesday, January 23rd. Finally, UBS Group cut their target price on shares of Boston Beer from $390.00 to $355.00 and set a neutral rating for the company in a research report on Wednesday, February 28th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Boston Beer presently has an average rating of Hold and a consensus target price of $333.93.

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Boston Beer Trading Down 0.7 %

Boston Beer stock opened at $280.30 on Tuesday. The business’s fifty day simple moving average is $289.95 and its two-hundred day simple moving average is $325.51. The company has a market capitalization of $3.35 billion, a price-to-earnings ratio of 35.17, a price-to-earnings-growth ratio of 1.05 and a beta of 1.03. Boston Beer has a 12 month low of $264.63 and a 12 month high of $395.52.

Boston Beer (NYSE:SAMGet Free Report) last issued its earnings results on Thursday, April 25th. The company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.96. The firm had revenue of $426.05 million for the quarter, compared to the consensus estimate of $414.18 million. Boston Beer had a net margin of 4.60% and a return on equity of 10.11%. On average, equities research analysts predict that Boston Beer will post 10.34 EPS for the current year.

Insider Buying and Selling at Boston Beer

In other Boston Beer news, insider Carolyn L. O’boyle sold 101 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $303.49, for a total transaction of $30,652.49. Following the completion of the transaction, the insider now owns 7,029 shares in the company, valued at $2,133,231.21. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 23.30% of the company’s stock.

Institutional Trading of Boston Beer

Several institutional investors and hedge funds have recently made changes to their positions in the business. iA Global Asset Management Inc. increased its stake in Boston Beer by 0.8% in the 1st quarter. iA Global Asset Management Inc. now owns 19,265 shares of the company’s stock worth $5,865,000 after buying an additional 161 shares during the period. Comerica Bank raised its stake in shares of Boston Beer by 51.0% during the first quarter. Comerica Bank now owns 4,193 shares of the company’s stock valued at $1,276,000 after acquiring an additional 1,416 shares in the last quarter. Tidal Investments LLC boosted its holdings in shares of Boston Beer by 100.6% in the first quarter. Tidal Investments LLC now owns 1,868 shares of the company’s stock valued at $569,000 after purchasing an additional 937 shares during the period. Jane Street Group LLC grew its stake in Boston Beer by 171.8% in the first quarter. Jane Street Group LLC now owns 15,876 shares of the company’s stock worth $4,833,000 after purchasing an additional 37,985 shares in the last quarter. Finally, Redwood Investment Management LLC bought a new position in Boston Beer in the first quarter worth approximately $1,502,000. 81.13% of the stock is currently owned by institutional investors.

Boston Beer Company Profile

(Get Free Report)

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, flavored malt beverages, and hard seltzers under the Samuel Adams, Twisted Tea, Truly, Angry Orchard, Dogfish Head, Angel City, and Coney Island brand names.

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