Royal Bank of Canada Reaffirms “Sector Perform” Rating for Boston Beer (NYSE:SAM)

Boston Beer (NYSE:SAM)‘s stock had its “sector perform” rating reaffirmed by stock analysts at Royal Bank of Canada in a report issued on Tuesday,Benzinga reports. They presently have a $279.00 target price on the stock. Royal Bank of Canada’s target price suggests a potential upside of 15.11% from the stock’s previous close.

Several other equities research analysts have also commented on the stock. Berenberg Bank began coverage on shares of Boston Beer in a research report on Wednesday, April 2nd. They set a “hold” rating and a $281.10 target price on the stock. Citigroup lifted their price target on Boston Beer from $280.00 to $285.00 and gave the stock a “buy” rating in a research note on Monday, April 14th. Roth Mkm reaffirmed a “buy” rating and issued a $349.00 price target (down previously from $389.00) on shares of Boston Beer in a report on Wednesday, February 26th. Morgan Stanley cut their price objective on Boston Beer from $290.00 to $270.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 26th. Finally, Piper Sandler dropped their price target on Boston Beer from $240.00 to $230.00 and set a “neutral” rating for the company in a research report on Thursday, April 17th. Ten investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Boston Beer presently has a consensus rating of “Hold” and an average price target of $290.01.

Boston Beer Trading Up 1.5 %

Shares of NYSE:SAM traded up $3.55 during midday trading on Tuesday, hitting $242.37. The stock had a trading volume of 10,154 shares, compared to its average volume of 171,297. The company has a market capitalization of $2.73 billion, a PE ratio of 35.64, a P/E/G ratio of 1.23 and a beta of 1.26. Boston Beer has a 1 year low of $215.10 and a 1 year high of $339.77. The stock has a 50 day moving average price of $235.66 and a two-hundred day moving average price of $269.59.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of SAM. Blue Trust Inc. boosted its holdings in Boston Beer by 405.6% in the fourth quarter. Blue Trust Inc. now owns 91 shares of the company’s stock worth $26,000 after purchasing an additional 73 shares during the period. EverSource Wealth Advisors LLC grew its holdings in shares of Boston Beer by 2,225.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 93 shares of the company’s stock valued at $28,000 after purchasing an additional 89 shares during the last quarter. GeoWealth Management LLC bought a new stake in shares of Boston Beer in the 4th quarter worth approximately $35,000. GAMMA Investing LLC boosted its position in Boston Beer by 59.3% during the 4th quarter. GAMMA Investing LLC now owns 129 shares of the company’s stock valued at $39,000 after purchasing an additional 48 shares during the period. Finally, First Horizon Advisors Inc. grew its stake in 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 buying an additional 51 shares during the last quarter. 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.