The Boston Beer Company, Inc. (NYSE:SAM – Get Free Report)’s share price was down 4.8% on Friday after Jefferies Financial Group downgraded the stock from a buy rating to a hold rating. Jefferies Financial Group now has a $325.00 price target on the stock, down from their previous price target of $355.00. Boston Beer traded as low as $282.75 and last traded at $287.49. Approximately 57,388 shares were traded during trading, a decline of 64% from the average daily volume of 158,487 shares. The stock had previously closed at $301.88.
Several other equities analysts have also recently weighed in on SAM. Roth Mkm reissued a “buy” rating and set a $389.00 price target on shares of Boston Beer in a report on Wednesday. Royal Bank of Canada lowered their target price on Boston Beer from $332.00 to $318.00 and set a “sector perform” rating on the stock in a report on Friday, July 26th. Piper Sandler dropped their target price on Boston Beer from $344.00 to $325.00 and set an “overweight” rating on the stock in a research report on Friday, July 26th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Boston Beer from $281.00 to $277.00 and set a “hold” rating on the stock in a research report on Thursday. Finally, UBS Group upped their price objective on Boston Beer from $300.00 to $309.00 in a research note on Thursday. 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 company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $314.82.
View Our Latest Report on Boston Beer
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Boston Beer Price Performance
The stock has a market cap of $3.47 billion, a P/E ratio of 38.74, a price-to-earnings-growth ratio of 1.23 and a beta of 1.06. The stock’s 50-day moving average is $279.71 and its two-hundred day moving average is $282.24.
Boston Beer (NYSE:SAM – Get Free Report) last released its quarterly earnings data on Thursday, July 25th. The company reported $4.39 EPS for the quarter, missing the consensus estimate of $4.99 by ($0.60). Boston Beer had a net margin of 4.39% and a return on equity of 9.69%. The company had revenue of $579.10 million for the quarter, compared to the consensus estimate of $597.33 million. During the same period last year, the company earned $4.72 EPS. The firm’s revenue for the quarter was down 4.0% on a year-over-year basis. On average, analysts anticipate that The Boston Beer Company, Inc. will post 9.63 EPS for the current fiscal year.
About Boston Beer
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.
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