Boston Beer (NYSE:SAM) Shares Gap Up – Time to Buy?

The Boston Beer Company, Inc. (NYSE:SAM)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $219.16, but opened at $226.74. Boston Beer shares last traded at $228.14, with a volume of 32,491 shares changing hands.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. StockNews.com cut shares of Boston Beer from a “buy” rating to a “hold” rating in a report on Wednesday, March 5th. Roth Mkm reissued a “buy” rating and issued a $349.00 price target (down from $389.00) on shares of Boston Beer in a report on Wednesday, February 26th. Morgan Stanley lowered their price target on shares of Boston Beer from $290.00 to $270.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 26th. UBS Group lowered their target price on shares of Boston Beer from $315.00 to $290.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Finally, Needham & Company LLC began coverage on shares of Boston Beer in a report on Friday, December 6th. They set a “hold” rating on the stock. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $292.40.

Boston Beer Trading Up 0.1 %

The firm has a market cap of $2.56 billion, a price-to-earnings ratio of 33.48, a price-to-earnings-growth ratio of 1.23 and a beta of 1.14. The company’s 50-day moving average is $239.53 and its 200-day moving average is $275.64.

Institutional Trading of Boston Beer

A number of hedge funds have recently added to or reduced their stakes in SAM. Blue Trust Inc. boosted its position in Boston Beer by 405.6% in the fourth quarter. Blue Trust Inc. now owns 91 shares of the company’s stock valued at $26,000 after buying an additional 73 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in Boston Beer by 2,225.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 93 shares of the company’s stock valued at $28,000 after buying an additional 89 shares in the last quarter. First Horizon Advisors Inc. boosted its position in Boston Beer by 105.1% in the third quarter. First Horizon Advisors Inc. now owns 121 shares of the company’s stock valued at $35,000 after buying an additional 62 shares in the last quarter. GeoWealth Management LLC acquired a new stake in Boston Beer in the fourth quarter valued at approximately $35,000. Finally, GAMMA Investing LLC boosted its position in Boston Beer by 59.3% in the fourth quarter. GAMMA Investing LLC now owns 129 shares of the company’s stock valued at $39,000 after buying an additional 48 shares in the last quarter. Institutional investors and hedge funds 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.