Boston Beer (NYSE:SAM) Upgraded by Citigroup to “Buy” Rating

Boston Beer (NYSE:SAM) was upgraded by stock analysts at Citigroup from a “neutral” rating to a “buy” rating in a report released on Thursday, MarketBeat.com reports. The firm presently has a $280.00 price target on the stock, up from their prior price target of $265.00. Citigroup’s price objective points to a potential upside of 27.83% from the company’s previous close.

A number of other research firms have also recently issued reports on SAM. Morgan Stanley decreased their target price on Boston Beer from $290.00 to $270.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 26th. UBS Group reduced their price objective on Boston Beer from $315.00 to $290.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. StockNews.com cut Boston Beer from a “buy” rating to a “hold” rating in a research report on Wednesday, March 5th. Needham & Company LLC started coverage on Boston Beer in a research report on Friday, December 6th. They set a “hold” rating for the company. Finally, Piper Sandler reduced their price target on Boston Beer from $275.00 to $240.00 and set a “neutral” rating for the company in a research report on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $292.40.

Boston Beer Trading Down 1.2 %

NYSE:SAM opened at $219.04 on Thursday. Boston Beer has a 1 year low of $215.10 and a 1 year high of $339.77. The stock has a market cap of $2.46 billion, a price-to-earnings ratio of 32.21, a PEG ratio of 1.23 and a beta of 1.14. The stock has a 50-day moving average price of $241.07 and a two-hundred day moving average price of $276.29.

Institutional Trading of Boston Beer

Several institutional investors and hedge funds have recently bought and sold shares of SAM. Quest Partners LLC bought a new stake in Boston Beer in the third quarter valued at approximately $339,000. First Horizon Advisors Inc. increased its stake in shares of Boston Beer by 105.1% during the third quarter. First Horizon Advisors Inc. now owns 121 shares of the company’s stock worth $35,000 after purchasing an additional 62 shares during the period. Landscape Capital Management L.L.C. bought a new position in shares of Boston Beer during the third quarter worth approximately $317,000. Great Valley Advisor Group Inc. increased its stake in shares of Boston Beer by 8.5% during the third quarter. Great Valley Advisor Group Inc. now owns 867 shares of the company’s stock worth $251,000 after purchasing an additional 68 shares during the period. Finally, Cerity Partners LLC bought a new position in shares of Boston Beer during the third quarter worth approximately $2,750,000. 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.