Boston Beer (NYSE:SAM) Upgraded to “Buy” at StockNews.com

Boston Beer (NYSE:SAM) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Tuesday.

Other analysts also recently issued research reports about the stock. Roth Mkm reissued a “buy” rating and issued a $389.00 price objective on shares of Boston Beer in a research note on Wednesday, October 23rd. Piper Sandler boosted their price objective on Boston Beer from $325.00 to $330.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Jefferies Financial Group downgraded Boston Beer from a “buy” rating to a “hold” rating and decreased their target price for the stock from $355.00 to $325.00 in a research report on Friday, October 25th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $318.00 price target on shares of Boston Beer in a research note on Friday, October 25th. Finally, UBS Group upped their target price on shares of Boston Beer from $300.00 to $309.00 in a research note on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $314.82.

Boston Beer Stock Performance

NYSE SAM traded down $9.10 on Tuesday, hitting $280.06. 228,332 shares of the stock were exchanged, compared to its average volume of 183,433. Boston Beer has a 52-week low of $254.40 and a 52-week high of $371.65. The firm has a market capitalization of $3.22 billion, a P/E ratio of 41.19, a P/E/G ratio of 1.21 and a beta of 1.08. The stock has a fifty day moving average price of $307.31 and a two-hundred day moving average price of $290.95.

Institutional Trading of Boston Beer

A number of institutional investors have recently modified their holdings of the company. Point72 Hong Kong Ltd purchased a new stake in Boston Beer during the third quarter valued at approximately $1,746,000. Savant Capital LLC purchased a new stake in shares of Boston Beer during the 2nd quarter valued at $982,000. Barclays PLC boosted its position in shares of Boston Beer by 44.2% in the 3rd quarter. Barclays PLC now owns 12,988 shares of the company’s stock worth $3,753,000 after purchasing an additional 3,983 shares in the last quarter. SW Investment Management LLC purchased a new position in Boston Beer during the 2nd quarter worth $1,525,000. Finally, Verition Fund Management LLC increased its position in Boston Beer by 582.6% during the 3rd quarter. Verition Fund Management LLC now owns 19,693 shares of the company’s stock valued at $5,694,000 after buying an additional 16,808 shares in the last quarter. 81.13% of the stock is currently owned by institutional investors.

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.