Boston Beer (NYSE:SAM) Rating Lowered to “Neutral” at Piper Sandler

Boston Beer (NYSE:SAM) was downgraded by equities research analysts at Piper Sandler from an “overweight” rating to a “neutral” rating in a research note issued to investors on Thursday, Marketbeat reports. They currently have a $275.00 target price on the stock, down from their prior target price of $370.00. Piper Sandler’s price objective indicates a potential upside of 9.89% from the stock’s previous close.

SAM has been the subject of a number of other research reports. Deutsche Bank Aktiengesellschaft cut their price target on Boston Beer from $281.00 to $277.00 and set a “hold” rating for the company in a research note on Thursday, October 24th. UBS Group cut their price target on Boston Beer from $315.00 to $290.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Needham & Company LLC assumed coverage on Boston Beer in a research note on Friday, December 6th. They set a “hold” rating for the company. Jefferies Financial Group downgraded Boston Beer from a “buy” rating to a “hold” rating and cut their price target for the company from $355.00 to $325.00 in a research note on Friday, October 25th. Finally, Roth Mkm reiterated a “buy” rating and set a $389.00 price target on shares of Boston Beer in a research note on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $302.90.

Boston Beer Price Performance

Shares of SAM opened at $250.25 on Thursday. The stock has a 50-day moving average of $297.14 and a 200-day moving average of $287.83. The company has a market cap of $2.87 billion, a PE ratio of 36.80, a P/E/G ratio of 0.80 and a beta of 1.08. Boston Beer has a one year low of $249.21 and a one year high of $371.65.

Institutional Investors Weigh In On Boston Beer

Hedge funds have recently modified their holdings of the stock. State Street Corp grew its stake in Boston Beer by 7.8% in the 3rd quarter. State Street Corp now owns 292,643 shares of the company’s stock valued at $84,615,000 after buying an additional 21,276 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Boston Beer by 17.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 182,972 shares of the company’s stock valued at $55,814,000 after purchasing an additional 26,538 shares in the last quarter. D. E. Shaw & Co. Inc. grew its position in shares of Boston Beer by 80.0% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 114,736 shares of the company’s stock valued at $35,000,000 after purchasing an additional 51,003 shares in the last quarter. Armistice Capital LLC grew its position in shares of Boston Beer by 1.1% during the 2nd quarter. Armistice Capital LLC now owns 97,292 shares of the company’s stock valued at $29,679,000 after purchasing an additional 1,093 shares in the last quarter. Finally, Quantinno Capital Management LP grew its position in shares of Boston Beer by 647.7% during the 3rd quarter. Quantinno Capital Management LP now owns 21,064 shares of the company’s stock valued at $6,090,000 after purchasing an additional 18,247 shares in the last quarter. Institutional investors own 81.13% of the company’s stock.

Boston Beer Company Profile

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.