Boston Beer (NYSE:SAM) Rating Lowered to Market Perform at Sanford C. Bernstein

Boston Beer (NYSE:SAMGet Rating) was downgraded by equities research analysts at Sanford C. Bernstein from an “outperform” rating to a “market perform” rating in a report released on Wednesday, Marketbeat.com reports. They currently have a $340.00 target price on the stock, down from their previous target price of $565.00. Sanford C. Bernstein’s target price indicates a potential upside of 3.04% from the stock’s previous close.

SAM has been the topic of several other research reports. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Boston Beer from $420.00 to $337.00 and set a “hold” rating on the stock in a research note on Friday, April 22nd. Guggenheim lowered their target price on shares of Boston Beer from $660.00 to $520.00 and set a “buy” rating for the company in a research note on Wednesday, April 20th. Citigroup lowered their target price on shares of Boston Beer from $424.00 to $375.00 in a research note on Sunday, April 24th. Evercore ISI decreased their price objective on shares of Boston Beer from $600.00 to $400.00 in a research note on Friday, April 22nd. Finally, UBS Group lowered shares of Boston Beer from a “buy” rating to a “neutral” rating and cut their target price for the company from $600.00 to $328.00 in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $487.14.

NYSE:SAM opened at $329.98 on Wednesday. Boston Beer has a one year low of $287.00 and a one year high of $1,059.04. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.45 and a quick ratio of 0.79. The company’s 50-day simple moving average is $343.17 and its 200 day simple moving average is $401.91. The firm has a market capitalization of $4.05 billion, a P/E ratio of -75.17 and a beta of 0.81.

Boston Beer (NYSE:SAMGet Rating) last released its quarterly earnings data on Thursday, April 21st. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of $2.05 by ($2.21). The company had revenue of $430.11 million for the quarter, compared to analysts’ expectations of $444.80 million. Boston Beer had a negative net margin of 2.64% and a positive return on equity of 9.05%. The firm’s revenue for the quarter was down 21.1% on a year-over-year basis. During the same period in the previous year, the firm earned $4.58 earnings per share. On average, equities research analysts expect that Boston Beer will post 12.11 earnings per share for the current fiscal year.

In other Boston Beer news, VP David L. Grinnell sold 425 shares of the stock in a transaction that occurred on Monday, June 6th. The shares were sold at an average price of $345.21, for a total value of $146,714.25. Following the transaction, the vice president now directly owns 1,611 shares in the company, valued at $556,133.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John C. Geist sold 1,008 shares of the stock in a transaction that occurred on Friday, April 1st. The shares were sold at an average price of $387.98, for a total transaction of $391,083.84. Following the completion of the transaction, the insider now owns 4,752 shares in the company, valued at $1,843,680.96. The disclosure for this sale can be found here. 23.30% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. FNY Investment Advisers LLC acquired a new stake in Boston Beer in the fourth quarter valued at $25,000. Concord Wealth Partners lifted its holdings in Boston Beer by 1,733.3% in the fourth quarter. Concord Wealth Partners now owns 55 shares of the company’s stock valued at $28,000 after acquiring an additional 52 shares during the period. Meeder Asset Management Inc. lifted its holdings in Boston Beer by 166.7% in the first quarter. Meeder Asset Management Inc. now owns 72 shares of the company’s stock valued at $28,000 after acquiring an additional 45 shares during the period. Cornerstone Advisory LLC acquired a new stake in Boston Beer in the fourth quarter valued at $30,000. Finally, Allegheny Financial Group LTD purchased a new position in shares of Boston Beer in the fourth quarter valued at $33,000. 62.12% of the stock is owned by hedge funds and other institutional investors.

About Boston Beer (Get Rating)

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, and hard seltzers under the Samuel Adams, Twisted Tea, Truly Hard Seltzer, Angry Orchard, Dogfish Head, Angel City, Coney Island, Concrete Beach brand names.

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Analyst Recommendations for Boston Beer (NYSE:SAM)

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