Boston Beer (NYSE:SAM) Upgraded to “Buy” at StockNews.com

StockNews.com upgraded shares of Boston Beer (NYSE:SAM) from a hold rating to a buy rating in a report issued on Tuesday morning.

A number of other research firms have also commented on SAM. Needham & Company LLC assumed coverage on shares of Boston Beer in a research report on Friday, December 6th. They issued a “hold” rating for the company. UBS Group cut their price target on shares of Boston Beer from $315.00 to $290.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Piper Sandler cut shares of Boston Beer from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $370.00 to $275.00 in a report on Thursday, January 23rd. Finally, Citigroup dropped their price objective on Boston Beer from $335.00 to $290.00 and set a “neutral” rating for the company in a research note on Wednesday, January 15th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $293.40.

Boston Beer Stock Performance

Shares of SAM opened at $243.67 on Tuesday. Boston Beer has a 52-week low of $222.27 and a 52-week high of $339.77. The stock’s 50-day simple moving average is $258.51 and its 200 day simple moving average is $280.52. The stock has a market capitalization of $2.80 billion, a price-to-earnings ratio of 35.83, a price-to-earnings-growth ratio of 1.23 and a beta of 1.06.

Institutional Investors Weigh In On Boston Beer

Several hedge funds have recently added to or reduced their stakes in SAM. Entropy Technologies LP purchased a new position in shares of Boston Beer during the 4th quarter valued at about $368,000. Legato Capital Management LLC bought a new position in Boston Beer during the fourth quarter valued at approximately $1,966,000. Merit Financial Group LLC purchased a new position in shares of Boston Beer during the fourth quarter worth approximately $434,000. Point72 Hong Kong Ltd bought a new stake in shares of Boston Beer in the 3rd quarter worth approximately $1,746,000. Finally, Barclays PLC boosted its stake in shares of Boston Beer by 44.2% in the 3rd quarter. Barclays PLC now owns 12,988 shares of the company’s stock valued at $3,753,000 after purchasing an additional 3,983 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.