Boston Beer (NYSE:SAM) Given Sector Perform Rating at Royal Bank of Canada

Royal Bank of Canada reissued their sector perform rating on shares of Boston Beer (NYSE:SAM) in a research note issued to investors on Friday morning, Benzinga reports. Royal Bank of Canada currently has a $318.00 price target on the stock.

SAM has been the topic of several other research reports. Piper Sandler boosted their price objective on Boston Beer from $325.00 to $330.00 and gave the stock an “overweight” rating in a research report on Friday. Jefferies Financial Group lowered shares of Boston Beer from a “buy” rating to a “hold” rating and reduced their price target for the company from $355.00 to $325.00 in a research report on Friday. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Boston Beer from $281.00 to $277.00 and set a “hold” rating on the stock in a research report on Thursday. UBS Group increased their target price on shares of Boston Beer from $300.00 to $309.00 in a research report on Thursday. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $389.00 price target on shares of Boston Beer in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $314.82.

Boston Beer Stock Down 2.0 %

NYSE:SAM traded down $5.92 during trading hours on Friday, hitting $295.96. 341,052 shares of the company traded hands, compared to its average volume of 159,857. Boston Beer has a one year low of $254.40 and a one year high of $372.61. The company has a market cap of $3.47 billion, a PE ratio of 38.74, a PEG ratio of 1.23 and a beta of 1.06. The firm’s 50-day simple moving average is $279.71 and its 200-day simple moving average is $282.30.

Boston Beer (NYSE:SAM) last posted its quarterly earnings data on Thursday, July 25th. The company reported $4.39 EPS for the quarter, missing the consensus estimate of $4.99 by ($0.60). Boston Beer had a net margin of 4.39% and a return on equity of 9.69%. The firm had revenue of $579.10 million during the quarter, compared to analysts’ expectations of $597.33 million. During the same quarter last year, the business posted $4.72 EPS. The company’s quarterly revenue was down 4.0% on a year-over-year basis. As a group, equities research analysts expect that Boston Beer will post 9.63 EPS for the current year.

Institutional Investors Weigh In On Boston Beer

Hedge funds and other institutional investors have recently modified their holdings of the stock. Los Angeles Capital Management LLC raised its position in Boston Beer by 0.5% in the 2nd quarter. Los Angeles Capital Management LLC now owns 14,729 shares of the company’s stock worth $4,493,000 after purchasing an additional 74 shares during the period. Gagnon Securities LLC grew its position in Boston Beer by 0.5% during the 1st quarter. Gagnon Securities LLC now owns 16,893 shares of the company’s stock worth $5,143,000 after acquiring an additional 80 shares during the last quarter. QV Investors Inc. lifted its position in Boston Beer by 0.4% in the third quarter. QV Investors Inc. now owns 20,650 shares of the company’s stock valued at $5,971,000 after purchasing an additional 80 shares during the last quarter. DekaBank Deutsche Girozentrale grew its holdings in shares of Boston Beer by 61.3% in the second quarter. DekaBank Deutsche Girozentrale now owns 250 shares of the company’s stock worth $75,000 after purchasing an additional 95 shares during the last quarter. Finally, LRI Investments LLC purchased a new position in shares of Boston Beer in the first quarter worth $28,000. 81.13% of the stock is currently owned by institutional investors.

About Boston Beer

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.