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

The Boston Beer Company, Inc. (NYSE:SAM) shares gapped up prior to trading on Tuesday . The stock had previously closed at $271.33, but opened at $279.61. Boston Beer shares last traded at $274.00, with a volume of 6,441 shares.

Analyst Upgrades and Downgrades

SAM has been the topic of several research reports. StockNews.com lowered shares of Boston Beer from a “buy” rating to a “hold” rating in a research note on Wednesday, June 12th. Roth Mkm reduced their price objective on shares of Boston Beer from $395.00 to $389.00 and set a “buy” rating for the company in a research note on Friday, July 26th. Piper Sandler decreased their target price on shares of Boston Beer from $344.00 to $325.00 and set an “overweight” rating for the company in a report on Friday, July 26th. Royal Bank of Canada cut their price target on shares of Boston Beer from $332.00 to $318.00 and set a “sector perform” rating on the stock in a report on Friday, July 26th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Boston Beer from $273.00 to $283.00 and gave the stock a “hold” rating in a report on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Boston Beer has an average rating of “Hold” and an average target price of $326.92.

Boston Beer Stock Up 0.2 %

The company has a market cap of $3.25 billion, a PE ratio of 34.06, a P/E/G ratio of 1.16 and a beta of 1.06. The business’s fifty day moving average is $276.03 and its 200-day moving average is $283.54.

Boston Beer (NYSE:SAM) last released its earnings results on Thursday, July 25th. The company reported $4.39 earnings per share for the quarter, missing the consensus estimate of $4.99 by ($0.60). The company had revenue of $579.10 million for the quarter, compared to analysts’ expectations of $597.33 million. Boston Beer had a net margin of 4.39% and a return on equity of 9.69%. Boston Beer’s revenue for the quarter was down 4.0% on a year-over-year basis. During the same quarter last year, the firm posted $4.72 earnings per share. Analysts forecast that The Boston Beer Company, Inc. will post 9.65 EPS for the current fiscal year.

Institutional Trading of Boston Beer

A number of hedge funds and other institutional investors have recently modified their holdings of the company. LRI Investments LLC purchased a new position in shares of Boston Beer during the 1st quarter valued at $28,000. Seven Eight Capital LP lifted its position in shares of Boston Beer by 160.0% in the first quarter. Seven Eight Capital LP now owns 4,940 shares of the company’s stock valued at $1,504,000 after acquiring an additional 3,040 shares in the last quarter. Natixis bought a new position in shares of Boston Beer in the first quarter worth about $3,044,000. Gamco Investors INC. ET AL grew its position in shares of Boston Beer by 16.9% during the first quarter. Gamco Investors INC. ET AL now owns 13,333 shares of the company’s stock worth $4,059,000 after purchasing an additional 1,925 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in Boston Beer by 2.3% during the 4th quarter. Vanguard Group Inc. now owns 918,502 shares of the company’s stock valued at $317,425,000 after purchasing an additional 21,060 shares during the period. 81.13% of the stock is owned by hedge funds and other institutional investors.

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.