Boston Beer (NYSE:SAM) Given New $325.00 Price Target at Evercore ISI

Boston Beer (NYSE:SAM) had its target price raised by Evercore ISI from $310.00 to $325.00 in a report released on Friday morning, Benzinga reports. They currently have an in-line rating on the stock.

Several other analysts have also commented on SAM. The Goldman Sachs Group lowered their price objective on shares of Boston Beer from $257.00 to $250.00 and set a sell rating for the company in a report on Tuesday, April 9th. Citigroup lowered their price objective on shares of Boston Beer from $350.00 to $315.00 and set a neutral rating for the company in a report on Tuesday, April 16th. Morgan Stanley lowered their price objective on shares of Boston Beer from $285.00 to $275.00 and set an underweight rating for the company in a report on Wednesday, February 28th. Roth Mkm raised their price objective on shares of Boston Beer from $406.00 to $422.00 and gave the stock a buy rating in a report on Tuesday, January 23rd. Finally, Sanford C. Bernstein upgraded shares of Boston Beer from an underperform rating to a market perform rating and raised their price objective for the stock from $280.00 to $335.00 in a report on Tuesday, January 16th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus target price of $335.21.

Boston Beer Stock Performance

Shares of SAM opened at $283.20 on Friday. The stock has a 50 day moving average price of $303.71 and a two-hundred day moving average price of $333.63. The firm has a market capitalization of $3.40 billion, a P/E ratio of 35.53, a P/E/G ratio of 1.18 and a beta of 1.02. Boston Beer has a 52 week low of $274.78 and a 52 week high of $395.52.

Boston Beer (NYSE:SAM) last posted its earnings results on Thursday, April 25th. The company reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.96. The company had revenue of $426.05 million during the quarter, compared to analyst estimates of $414.18 million. Boston Beer had a net margin of 4.60% and a return on equity of 10.00%. On average, equities analysts forecast that Boston Beer will post 9.9 earnings per share for the current year.

Insider Buying and Selling

In other Boston Beer news, insider Carolyn L. O’boyle sold 102 shares of Boston Beer stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $350.72, for a total value of $35,773.44. Following the completion of the sale, the insider now owns 2,630 shares of the company’s stock, valued at approximately $922,393.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Boston Beer news, insider Carolyn L. O’boyle sold 102 shares of Boston Beer stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $350.72, for a total value of $35,773.44. Following the completion of the sale, the insider now owns 2,630 shares of the company’s stock, valued at approximately $922,393.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Carolyn L. O’boyle sold 101 shares of Boston Beer stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $303.49, for a total transaction of $30,652.49. Following the completion of the sale, the insider now directly owns 7,029 shares of the company’s stock, valued at approximately $2,133,231.21. The disclosure for this sale can be found here. 23.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Boston Beer

A number of hedge funds have recently modified their holdings of the business. New York State Teachers Retirement System boosted its holdings in Boston Beer by 3.3% in the 1st quarter. New York State Teachers Retirement System now owns 14,081 shares of the company’s stock worth $4,287,000 after buying an additional 448 shares during the period. Assenagon Asset Management S.A. boosted its holdings in Boston Beer by 205.1% in the 1st quarter. Assenagon Asset Management S.A. now owns 16,058 shares of the company’s stock worth $4,888,000 after buying an additional 10,794 shares during the period. Louisiana State Employees Retirement System boosted its holdings in Boston Beer by 3.8% in the 1st quarter. Louisiana State Employees Retirement System now owns 2,700 shares of the company’s stock worth $822,000 after buying an additional 100 shares during the period. Foguth Wealth Management LLC. bought a new position in Boston Beer in the 1st quarter worth $243,000. Finally, Cardinal Capital Management boosted its holdings in Boston Beer by 45.5% in the 1st quarter. Cardinal Capital Management now owns 4,051 shares of the company’s stock worth $1,233,000 after buying an additional 1,267 shares during the period. 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.