Boston Beer (NYSE:SAM) Stock Rating Upgraded by StockNews.com

Boston Beer (NYSE:SAM) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Tuesday.

SAM has been the subject of a number of other reports. Needham & Company LLC began coverage on shares of Boston Beer in a research report on Friday, December 6th. They set a “hold” rating for the company. Jefferies Financial Group lowered Boston Beer from a “buy” rating to a “hold” rating and reduced their price objective for the company from $355.00 to $325.00 in a report on Friday, October 25th. UBS Group boosted their target price on Boston Beer from $300.00 to $309.00 in a research note on Thursday, October 24th. Deutsche Bank Aktiengesellschaft cut their price target on Boston Beer from $281.00 to $277.00 and set a “hold” rating for the company in a research note on Thursday, October 24th. Finally, Piper Sandler boosted their price objective on Boston Beer from $325.00 to $330.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $314.82.

Boston Beer Stock Performance

SAM opened at $275.81 on Tuesday. Boston Beer has a fifty-two week low of $254.40 and a fifty-two week high of $371.65. The firm has a 50-day moving average of $306.83 and a 200 day moving average of $290.85. The firm has a market cap of $3.17 billion, a P/E ratio of 40.56, a PEG ratio of 1.21 and a beta of 1.08.

Institutional Investors Weigh In On Boston Beer

Large investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC raised its holdings in shares of Boston Beer by 59.3% in the 4th quarter. GAMMA Investing LLC now owns 129 shares of the company’s stock valued at $39,000 after acquiring an additional 48 shares in the last quarter. Versant Capital Management Inc raised its stake in Boston Beer by 37.5% in the fourth quarter. Versant Capital Management Inc now owns 348 shares of the company’s stock valued at $104,000 after purchasing an additional 95 shares in the last quarter. Franklin Resources Inc. raised its stake in Boston Beer by 10.1% in the third quarter. Franklin Resources Inc. now owns 15,389 shares of the company’s stock valued at $4,239,000 after purchasing an additional 1,406 shares in the last quarter. Tidal Investments LLC bought a new stake in Boston Beer during the third quarter valued at approximately $299,000. Finally, Sanctuary Advisors LLC grew its stake in Boston Beer by 176.3% in the 3rd quarter. Sanctuary Advisors LLC now owns 2,078 shares of the company’s stock worth $650,000 after buying an additional 1,326 shares in 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.