Boston Beer (NYSE:SAM) Upgraded at StockNews.com

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

Several other research firms also recently commented on SAM. Piper Sandler lifted their target price on shares of Boston Beer from $325.00 to $330.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. UBS Group boosted their price objective on shares of Boston Beer from $300.00 to $309.00 in a research note on Thursday, October 24th. Roth Mkm restated a “buy” rating and issued a $389.00 price objective on shares of Boston Beer in a report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft cut their target price on Boston Beer from $281.00 to $277.00 and set a “hold” rating on the stock in a report on Thursday, October 24th. Finally, Jefferies Financial Group cut Boston Beer from a “buy” rating to a “hold” rating and decreased their price target for the company from $355.00 to $325.00 in a research note on Friday, October 25th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Boston Beer presently has an average rating of “Hold” and an average price target of $314.82.

Boston Beer Trading Down 1.9 %

Shares of SAM stock opened at $275.81 on Tuesday. The firm has a market capitalization of $3.17 billion, a price-to-earnings ratio of 40.56, a PEG ratio of 1.21 and a beta of 1.08. The business’s 50-day moving average price is $306.53 and its 200-day moving average price is $290.74. Boston Beer has a 12 month low of $254.40 and a 12 month high of $371.65.

Institutional Trading of Boston Beer

Several large investors have recently modified their holdings of the stock. First Horizon Advisors Inc. boosted its stake in 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 acquiring an additional 62 shares in the last quarter. Covestor Ltd raised its holdings in shares of Boston Beer by 36.6% during the third quarter. Covestor Ltd now owns 127 shares of the company’s stock valued at $37,000 after purchasing an additional 34 shares during the period. GAMMA Investing LLC boosted its position in shares of Boston Beer by 59.3% during the 4th quarter. GAMMA Investing LLC now owns 129 shares of the company’s stock worth $39,000 after purchasing an additional 48 shares in the last quarter. True Wealth Design LLC acquired a new stake in shares of Boston Beer in the 3rd quarter valued at about $47,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Boston Beer in the 3rd quarter valued at about $49,000. 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.