Boston Beer (NYSE:SAM) Upgraded to Buy at Citigroup

Citigroup upgraded shares of Boston Beer (NYSE:SAM) from a neutral rating to a buy rating in a report issued on Thursday, Marketbeat.com reports. The brokerage currently has $280.00 target price on the stock, up from their prior target price of $265.00.

A number of other research firms have also issued reports on SAM. Needham & Company LLC initiated coverage on shares of Boston Beer in a report on Friday, December 6th. They set a “hold” rating for the company. UBS Group dropped their price objective on shares of Boston Beer from $315.00 to $290.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. StockNews.com cut Boston Beer from a “buy” rating to a “hold” rating in a report on Wednesday, March 5th. Roth Mkm reiterated a “buy” rating and set a $349.00 price objective (down previously from $389.00) on shares of Boston Beer in a research report on Wednesday, February 26th. Finally, Morgan Stanley dropped their target price on Boston Beer from $290.00 to $270.00 and set an “equal weight” rating for the company in a report on Wednesday, February 26th. One investment 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. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $292.40.

Boston Beer Trading Up 3.8 %

SAM stock opened at $227.58 on Thursday. The business’s 50-day moving average is $240.10 and its 200 day moving average is $275.95. Boston Beer has a 12-month low of $215.10 and a 12-month high of $339.77. The stock has a market cap of $2.56 billion, a price-to-earnings ratio of 33.47, a PEG ratio of 1.23 and a beta of 1.14.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Quest Partners LLC purchased a new stake in shares of Boston Beer in the 3rd quarter valued at approximately $339,000. First Horizon Advisors Inc. increased its holdings in Boston Beer by 105.1% in the 3rd quarter. First Horizon Advisors Inc. now owns 121 shares of the company’s stock valued at $35,000 after purchasing an additional 62 shares during the last quarter. Landscape Capital Management L.L.C. purchased a new stake in Boston Beer in the third quarter valued at approximately $317,000. Great Valley Advisor Group Inc. lifted its stake in Boston Beer by 8.5% during the third quarter. Great Valley Advisor Group Inc. now owns 867 shares of the company’s stock worth $251,000 after purchasing an additional 68 shares in the last quarter. Finally, Cerity Partners LLC purchased a new position in shares of Boston Beer during the third quarter worth $2,750,000. Institutional investors and hedge funds 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.