Boston Beer (NYSE:SAM) Price Target Cut to $290.00 by Analysts at UBS Group

Boston Beer (NYSE:SAM) had its price target decreased by UBS Group from $315.00 to $290.00 in a research report report published on Thursday morning,Benzinga reports. UBS Group currently has a neutral rating on the stock.

Several other equities analysts have also recently commented on the company. Roth Mkm reiterated a “buy” rating and set a $389.00 target price on shares of Boston Beer in a research note on Wednesday, October 23rd. StockNews.com lowered shares of Boston Beer from a “buy” rating to a “hold” rating in a report on Wednesday. Royal Bank of Canada restated a “sector perform” rating and issued a $318.00 target price on shares of Boston Beer in a research note on Friday, October 25th. Piper Sandler lifted their price target on Boston Beer from $325.00 to $330.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Finally, Citigroup cut their price objective on Boston Beer from $335.00 to $290.00 and set a “neutral” rating on the stock in a research note on Wednesday. One analyst has rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $308.40.

Boston Beer Stock Performance

NYSE:SAM opened at $251.90 on Thursday. Boston Beer has a one year low of $249.21 and a one year high of $371.65. The business’s 50-day simple moving average is $301.14 and its 200 day simple moving average is $288.76. The stock has a market cap of $2.89 billion, a price-to-earnings ratio of 37.04, a price-to-earnings-growth ratio of 0.81 and a beta of 1.08.

Institutional Trading of Boston Beer

Hedge funds have recently made changes to their positions in the stock. First Horizon Advisors Inc. grew its stake in Boston Beer by 105.1% during the 3rd quarter. First Horizon Advisors Inc. now owns 121 shares of the company’s stock worth $35,000 after buying an additional 62 shares during the last quarter. Covestor Ltd boosted its holdings in shares of Boston Beer by 36.6% during the third quarter. Covestor Ltd now owns 127 shares of the company’s stock valued at $37,000 after acquiring an additional 34 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Boston Beer by 59.3% during the fourth quarter. GAMMA Investing LLC now owns 129 shares of the company’s stock valued at $39,000 after acquiring an additional 48 shares during the period. True Wealth Design LLC bought a new position in shares of Boston Beer during the third quarter worth about $47,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Boston Beer in the 3rd quarter worth about $49,000. 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.