Boston Beer (NYSE:SAM) Upgraded at Citigroup

Citigroup upgraded shares of Boston Beer (NYSE:SAM) from a neutral rating to a buy rating in a report released on Thursday, MarketBeat Ratings reports. The brokerage currently has $280.00 price target on the stock, up from their prior price target of $265.00.

A number of other research firms have also weighed in on SAM. Roth Mkm reaffirmed a “buy” rating and issued a $349.00 price objective (down from $389.00) on shares of Boston Beer in a research note on Wednesday, February 26th. Piper Sandler lowered their price objective on shares of Boston Beer from $275.00 to $240.00 and set a “neutral” rating for the company in a research note on Wednesday, February 26th. StockNews.com lowered shares of Boston Beer from a “buy” rating to a “hold” rating in a research note on Wednesday, March 5th. Needham & Company LLC initiated coverage on shares of Boston Beer in a report on Friday, December 6th. They issued a “hold” rating for the company. Finally, UBS Group reduced their target price 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. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Boston Beer presently has an average rating of “Hold” and a consensus target price of $292.40.

Boston Beer Price Performance

NYSE:SAM opened at $227.66 on Thursday. Boston Beer has a 1-year low of $215.10 and a 1-year high of $339.77. The company has a 50-day moving average of $239.53 and a 200 day moving average of $275.61. The firm has a market cap of $2.56 billion, a PE ratio of 33.48, a price-to-earnings-growth ratio of 1.23 and a beta of 1.14.

Hedge Funds Weigh In On Boston Beer

Several hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC increased its holdings in shares of Boston Beer by 59.3% during the fourth quarter. GAMMA Investing LLC now owns 129 shares of the company’s stock valued at $39,000 after acquiring an additional 48 shares in the last quarter. Lazard Asset Management LLC increased its holdings in shares of Boston Beer by 10.3% during the fourth quarter. Lazard Asset Management LLC now owns 515 shares of the company’s stock valued at $153,000 after acquiring an additional 48 shares in the last quarter. First Horizon Advisors Inc. increased its holdings in shares of Boston Beer by 42.1% during the fourth quarter. First Horizon Advisors Inc. now owns 172 shares of the company’s stock valued at $52,000 after acquiring an additional 51 shares in the last quarter. Cetera Investment Advisers increased its holdings in shares of Boston Beer by 4.6% during the fourth quarter. Cetera Investment Advisers now owns 1,269 shares of the company’s stock valued at $381,000 after acquiring an additional 56 shares in the last quarter. Finally, Exchange Traded Concepts LLC increased its holdings in shares of Boston Beer by 2.5% during the fourth quarter. Exchange Traded Concepts LLC now owns 2,630 shares of the company’s stock valued at $789,000 after acquiring an additional 65 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.