Boston Beer (NYSE:SAM) Given “Buy” Rating at Roth Mkm

Boston Beer (NYSE:SAM)‘s stock had its “buy” rating reaffirmed by equities research analysts at Roth Mkm in a report released on Wednesday, Benzinga reports. They presently have a $389.00 price objective on the stock. Roth Mkm’s price objective indicates a potential upside of 28.91% from the company’s previous close.

Several other equities research analysts also recently weighed in on SAM. Deutsche Bank Aktiengesellschaft increased their price objective on Boston Beer from $273.00 to $283.00 and gave the company a “hold” rating in a report on Wednesday, July 17th. Piper Sandler decreased their price target on shares of Boston Beer from $344.00 to $325.00 and set an “overweight” rating for the company in a research note on Friday, July 26th. Finally, Royal Bank of Canada dropped their price objective on shares of Boston Beer from $332.00 to $318.00 and set a “sector perform” rating on the stock in a research note on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $322.58.

Boston Beer Price Performance

Shares of SAM opened at $301.75 on Wednesday. Boston Beer has a 1-year low of $254.40 and a 1-year high of $378.08. The stock has a market cap of $3.54 billion, a PE ratio of 39.50, a price-to-earnings-growth ratio of 1.23 and a beta of 1.06. The firm has a fifty day moving average price of $279.44 and a 200 day moving average price of $282.31.

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

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in SAM. Wealth Enhancement Advisory Services LLC increased its position in Boston Beer by 389.2% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 5,714 shares of the company’s stock worth $1,652,000 after purchasing an additional 4,546 shares during the period. International Assets Investment Management LLC purchased a new stake in shares of Boston Beer in the third quarter valued at approximately $45,150,000. Aaron Wealth Advisors LLC purchased a new position in Boston Beer in the third quarter worth $329,000. Claro Advisors LLC purchased a new position in Boston Beer in the third quarter worth $1,762,000. Finally, Cardinal Capital Management lifted its holdings in Boston Beer by 17.5% in the third quarter. Cardinal Capital Management now owns 5,719 shares of the company’s stock valued at $1,654,000 after acquiring an additional 850 shares during the period. 81.13% of the stock is 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.