Boston Beer (NYSE:SAM) Stock Rating Lowered by StockNews
Boston Beer (NYSE:SAM – Get Free Report) was downgraded by investment analysts at StockNews from a “buy” rating to a “hold” rating in a report issued on Wednesday. Several other research analysts have also commented on the company. UBS Group cut their price objective on Boston Beer from $390.00 to $355.00 and set a “neutral” […] Boston Beer (NYSE:SAM) has been downgraded by StockNews.com (StockNews) to a “hold” rating. The company was previously raised by Jefferies Financial Group (Jefferies) and raised its price objective from $335.00 to $360.00. Other research analysts have also commented on the company. UBS Group cut their price objective on Boston Beer from $390.00 down to $355.00 in a research report on Wednesday, February 28th. Evercore ISI raised their price objectives on Boston Beverage from $310.00 and gave the company an “in-line’ rating. Boston Beer (Boston Beer) reported $1.04 earnings per share for the quarter, beating analysts’ expectations of $414.18 million.
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Boston Beer (NYSE:SAM – Get Free Report) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Wednesday.
Several other research analysts have also commented on the company. UBS Group cut their price objective on Boston Beer from $390.00 to $355.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 28th. Jefferies Financial Group raised Boston Beer from a “hold” rating to a “buy” rating and raised their price objective for the company from $335.00 to $360.00 in a research report on Tuesday, May 14th. Citigroup cut their price objective on Boston Beer from $350.00 to $315.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 16th. Evercore ISI raised their price objective on Boston Beer from $310.00 to $325.00 and gave the company an “in-line” rating in a research report on Friday, April 26th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $337.00 price objective on shares of Boston Beer in a research report on Wednesday, February 28th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Boston Beer currently has an average rating of “Hold” and a consensus price target of $335.00.
Check Out Our Latest Stock Analysis on Boston Beer
Boston Beer (NYSE:SAM – Get Free Report) last issued its earnings results on Thursday, April 25th. The company reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.96. Boston Beer had a return on equity of 10.11% and a net margin of 4.60%. The firm had revenue of $426.05 million for the quarter, compared to analysts’ expectations of $414.18 million. As a group, sell-side analysts predict that Boston Beer will post 10.25 EPS for the current year.
In related news, insider Carolyn L. O’boyle sold 101 shares of Boston Beer stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $303.49, for a total value of $30,652.49. Following the completion of the transaction, the insider now directly owns 7,029 shares in the company, valued at $2,133,231.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 24.00% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Trexquant Investment LP boosted its stake in Boston Beer by 136.3% in the fourth quarter. Trexquant Investment LP now owns 13,171 shares of the company’s stock valued at $4,552,000 after acquiring an additional 7,598 shares during the period. Wellington Management Group LLP boosted its stake in Boston Beer by 26.5% in the third quarter. Wellington Management Group LLP now owns 66,548 shares of the company’s stock valued at $25,922,000 after acquiring an additional 13,951 shares during the period. Wedge Capital Management L L P NC acquired a new position in Boston Beer in the fourth quarter valued at approximately $1,010,000. International Assets Investment Management LLC acquired a new position in Boston Beer in the fourth quarter valued at approximately $64,490,000. Finally, Amica Mutual Insurance Co. acquired a new position in Boston Beer in the fourth quarter valued at approximately $1,109,000. 81.13% of the stock is currently owned by institutional investors and hedge funds.
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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المواضيع: Markets