Boston Beer (NYSE:SAM) Earns “Buy” Rating from Roth Mkm

Boston Beer (NYSE:SAM)‘s stock had its “buy” rating restated by equities researchers at Roth Mkm in a report released on Wednesday,Benzinga reports. They currently have a $349.00 price target on the stock, down from their prior price target of $389.00. Roth Mkm’s price target suggests a potential upside of 43.44% from the stock’s current price.

Other analysts have also issued reports about the company. StockNews.com raised Boston Beer from a “hold” rating to a “buy” rating in a report on Tuesday. Piper Sandler cut shares of Boston Beer from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $370.00 to $275.00 in a research note on Thursday, January 23rd. Citigroup cut their price objective on Boston Beer from $335.00 to $290.00 and set a “neutral” rating on the stock in a report on Wednesday, January 15th. Needham & Company LLC assumed coverage on shares of Boston Beer in a research note on Friday, December 6th. They issued a “hold” rating for the company. Finally, Morgan Stanley reduced their price target on shares of Boston Beer from $290.00 to $270.00 and set an “equal weight” rating for the company in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $296.90.

Boston Beer Trading Up 3.8 %

Shares of Boston Beer stock traded up $9.02 on Wednesday, hitting $243.31. 225,183 shares of the company traded hands, compared to its average volume of 196,000. Boston Beer has a 52 week low of $222.27 and a 52 week high of $371.65. The company has a market cap of $2.79 billion, a PE ratio of 35.72, a PEG ratio of 1.23 and a beta of 1.06. The stock’s 50 day moving average price is $261.05 and its 200-day moving average price is $281.06.

Institutional Trading of Boston Beer

Hedge funds have recently made changes to their positions in the company. Blue Trust Inc. raised its holdings in Boston Beer by 405.6% in the fourth quarter. Blue Trust Inc. now owns 91 shares of the company’s stock valued at $26,000 after acquiring an additional 73 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Boston Beer by 2,225.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 93 shares of the company’s stock worth $28,000 after buying an additional 89 shares in the last quarter. First Horizon Advisors Inc. boosted its position in shares of Boston Beer by 105.1% in the 3rd quarter. First Horizon Advisors Inc. now owns 121 shares of the company’s stock valued at $35,000 after purchasing an additional 62 shares during the period. GeoWealth Management LLC purchased a new stake in shares of Boston Beer in the 4th quarter valued at approximately $35,000. Finally, Covestor Ltd lifted its position in Boston Beer by 36.6% in the 3rd quarter. Covestor Ltd now owns 127 shares of the company’s stock worth $37,000 after buying an additional 34 shares in the last quarter. Hedge funds and other institutional investors own 81.13% of the company’s stock.

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.