Boston Beer’s (SAM) Sector Perform Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reaffirmed their sector perform rating on shares of Boston Beer (NYSE:SAM) in a report published on Friday morning, Benzinga reports. The firm currently has a $318.00 price objective on the stock.

A number of other research analysts have also recently commented on SAM. Deutsche Bank Aktiengesellschaft lowered their price target on Boston Beer from $281.00 to $277.00 and set a “hold” rating on the stock in a report on Thursday. Piper Sandler boosted their target price on shares of Boston Beer from $325.00 to $330.00 and gave the stock an “overweight” rating in a report on Friday. Roth Mkm reaffirmed a “buy” rating and set a $389.00 target price on shares of Boston Beer in a research note on Wednesday, October 23rd. UBS Group lifted their price target on shares of Boston Beer from $300.00 to $309.00 in a report on Thursday. Finally, Jefferies Financial Group downgraded shares of Boston Beer from a “buy” rating to a “hold” rating and dropped their price objective for the company from $355.00 to $325.00 in a report on Friday. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $314.82.

Boston Beer Stock Performance

SAM opened at $295.96 on Friday. The stock has a market cap of $3.54 billion, a price-to-earnings ratio of 37.13, a price-to-earnings-growth ratio of 1.23 and a beta of 1.06. The firm’s fifty day moving average is $279.71 and its 200 day moving average is $282.18. Boston Beer has a fifty-two week low of $254.40 and a fifty-two week high of $372.61.

Boston Beer (NYSE:SAM) last announced its quarterly earnings data on Thursday, July 25th. The company reported $4.39 EPS for the quarter, missing the consensus estimate of $4.99 by ($0.60). Boston Beer had a net margin of 4.39% and a return on equity of 9.69%. The business had revenue of $579.10 million during the quarter, compared to analysts’ expectations of $597.33 million. During the same quarter in the previous year, the firm earned $4.72 earnings per share. Boston Beer’s revenue was down 4.0% on a year-over-year basis. On average, equities research analysts predict that Boston Beer will post 9.63 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in SAM. LRI Investments LLC bought a new stake in Boston Beer during the first quarter worth approximately $28,000. ORG Partners LLC purchased a new position in shares of Boston Beer in the 2nd quarter worth approximately $48,000. Sachetta LLC increased its position in shares of Boston Beer by 1,533.3% during the 2nd quarter. Sachetta LLC now owns 245 shares of the company’s stock valued at $68,000 after purchasing an additional 230 shares during the last quarter. DekaBank Deutsche Girozentrale raised its holdings in Boston Beer by 61.3% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 250 shares of the company’s stock valued at $75,000 after buying an additional 95 shares during the period. Finally, Quarry LP lifted its position in Boston Beer by 984.0% in the second quarter. Quarry LP now owns 271 shares of the company’s stock worth $83,000 after buying an additional 246 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.