Piper Sandler Issues Pessimistic Forecast for Boston Beer (NYSE:SAM) Stock Price

Boston Beer (NYSE:SAM) had its target price dropped by stock analysts at Piper Sandler from $275.00 to $240.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Piper Sandler’s price target indicates a potential downside of 1.55% from the company’s current price.

Several other equities research analysts also recently commented on the stock. Morgan Stanley decreased their target price 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. Citigroup cut their price objective on shares of Boston Beer from $335.00 to $290.00 and set a “neutral” rating for the company in a report on Wednesday, January 15th. Needham & Company LLC began coverage on shares of Boston Beer in a research report on Friday, December 6th. They issued a “hold” rating on the stock. StockNews.com upgraded shares of Boston Beer from a “hold” rating to a “buy” rating in a research report on Tuesday. Finally, UBS Group cut their target price on shares of Boston Beer from $315.00 to $290.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $293.40.

Boston Beer Trading Up 4.1 %

Boston Beer stock traded up $9.49 during mid-day trading on Wednesday, reaching $243.78. The company had a trading volume of 261,100 shares, compared to its average volume of 197,134. Boston Beer has a fifty-two week low of $222.27 and a fifty-two week high of $371.65. The business has a fifty day simple moving average of $261.05 and a 200 day simple moving average of $281.06. The company has a market cap of $2.80 billion, a P/E ratio of 35.86, a P/E/G ratio of 1.23 and a beta of 1.06.

Institutional Trading of Boston Beer

Several large investors have recently made changes to their positions in the company. Covestor Ltd increased its holdings in shares of Boston Beer by 36.6% in the third quarter. Covestor Ltd now owns 127 shares of the company’s stock valued at $37,000 after purchasing an additional 34 shares during the period. GAMMA Investing LLC grew its holdings in Boston Beer by 59.3% during the 4th quarter. GAMMA Investing LLC now owns 129 shares of the company’s stock worth $39,000 after acquiring an additional 48 shares in the last quarter. Lazard Asset Management LLC grew its position in shares of Boston Beer by 10.3% in the 4th quarter. Lazard Asset Management LLC now owns 515 shares of the company’s stock worth $153,000 after acquiring an additional 48 shares in the last quarter. First Horizon Advisors Inc. raised its position in shares of Boston Beer by 42.1% during the 4th quarter. First Horizon Advisors Inc. now owns 172 shares of the company’s stock worth $52,000 after purchasing an additional 51 shares during the period. Finally, Cetera Investment Advisers grew its position in Boston Beer by 4.6% in the 4th quarter. Cetera Investment Advisers now owns 1,269 shares of the company’s stock worth $381,000 after purchasing an additional 56 shares during the last quarter. 81.13% of the stock is currently owned by hedge funds and other 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.