Boston Beer Company, Inc. (The) (NYSE:SAM) Upgraded by Zacks Investment Research to Buy

Zacks Investment Research upgraded shares of Boston Beer Company, Inc. (The) (NYSE:SAM) from a hold rating to a buy rating in a report issued on Monday, July 17th. Zacks Investment Research currently has $148.00 price objective on the stock.

According to Zacks, “We remain encouraged by Boston Beer’s three point growth plan which focuses on revival of Samuel Adams and Angry Orchard brands, cost saving initiatives and long-term innovation. Further, the company’s focus on pricing, product innovation and brand development are likely to boost operational performance and its market position.  Its practice of acquiring assets to expand geographically, along with brand-building efforts and initiatives to add new products remain key revenue drivers. The company is keen on reviving the Samuel Adams and Angry Orchard brands through packaging, innovation, promotion and brand communication initiatives. Moreover, its cost savings plans are likely to boost gross margin by 1% every year over the next three years. However, Boston Beer has underperformed the broader industry in the past six months due to soft depletion trends that stemmed from weakness in Samuel Adams, soft craft beer and cider categories.”

Other equities analysts have also issued research reports about the company. Royal Bank Of Canada reiterated a hold rating and issued a $158.00 price target on shares of Boston Beer Company, Inc. (The) in a research note on Friday, June 30th. Jefferies Group LLC reiterated a hold rating and issued a $130.00 price target (down previously from $145.00) on shares of Boston Beer Company, Inc. (The) in a research note on Tuesday, April 18th. Susquehanna Bancshares Inc set a $154.00 price target on Boston Beer Company, Inc. (The) and gave the company a hold rating in a research note on Monday, April 17th. UBS AG upgraded Boston Beer Company, Inc. (The) from a neutral rating to a positive rating in a research note on Friday, April 28th. Finally, Cowen and Company reiterated a sell rating and issued a $126.00 price target on shares of Boston Beer Company, Inc. (The) in a research note on Friday, July 14th. Four analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $142.13.

Boston Beer Company, Inc. (NYSE:SAM) traded down 0.20% during mid-day trading on Monday, hitting $147.65. 137,504 shares of the stock were exchanged. The company has a 50-day moving average price of $138.60 and a 200-day moving average price of $145.14. Boston Beer Company, Inc. has a one year low of $128.70 and a one year high of $194.98. The company has a market cap of $1.77 billion, a P/E ratio of 21.01 and a beta of 0.55.

Boston Beer Company, Inc. (The) (NYSE:SAM) last issued its quarterly earnings results on Thursday, July 27th. The company reported $2.35 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.46 by $0.89. Boston Beer Company, Inc. (The) had a return on equity of 20.19% and a net margin of 9.65%. The company had revenue of $247.90 million for the quarter, compared to analyst estimates of $222.74 million. During the same quarter last year, the company posted $2.06 EPS. The company’s revenue for the quarter was up 1.3% compared to the same quarter last year. On average, analysts predict that Boston Beer Company, Inc. will post $5.78 earnings per share for the current fiscal year.

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In other news, VP David L. Grinnell sold 2,628 shares of the business’s stock in a transaction dated Friday, July 28th. The stock was sold at an average price of $159.90, for a total value of $420,217.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director David A. Burwick sold 5,000 shares of the business’s stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $144.00, for a total value of $720,000.00. Following the completion of the transaction, the director now directly owns 6,094 shares in the company, valued at $877,536. The disclosure for this sale can be found here. 31.30% of the stock is currently owned by insiders.

A number of hedge funds have recently modified their holdings of SAM. RK Asset Management LLC raised its stake in shares of Boston Beer Company, Inc. (The) by 90.6% in the first quarter. RK Asset Management LLC now owns 67,549 shares of the company’s stock worth $9,771,000 after buying an additional 32,104 shares during the last quarter. Horan Capital Management bought a new stake in shares of Boston Beer Company, Inc. (The) during the first quarter worth approximately $145,000. Creative Planning raised its stake in shares of Boston Beer Company, Inc. (The) by 124.0% in the first quarter. Creative Planning now owns 2,041 shares of the company’s stock worth $295,000 after buying an additional 1,130 shares in the last quarter. Confluence Investment Management LLC raised its stake in shares of Boston Beer Company, Inc. (The) by 152.7% in the first quarter. Confluence Investment Management LLC now owns 22,107 shares of the company’s stock worth $3,198,000 after buying an additional 13,360 shares in the last quarter. Finally, Teachers Advisors LLC raised its stake in shares of Boston Beer Company, Inc. (The) by 1.1% in the fourth quarter. Teachers Advisors LLC now owns 14,185 shares of the company’s stock worth $2,409,000 after buying an additional 158 shares in the last quarter. 70.61% of the stock is owned by institutional investors and hedge funds.

Boston Beer Company, Inc. (The) Company Profile

The Boston Beer Company, Inc is a craft brewer in the United States. The Company is engaged in the business of producing and selling alcohol beverages primarily in the domestic market and in selected international markets. The Company operates through two segments: Boston Beer Company segment, and A&S Brewing Collaborative segment.

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Analyst Recommendations for Boston Beer Company, Inc. (The) (NYSE:SAM)

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