Boston Beer (NYSE:SAM) Earns Hold Rating from Analysts at Needham & Company LLC

Needham & Company LLC assumed coverage on shares of Boston Beer (NYSE:SAM) in a research report report published on Friday, Marketbeat.com reports. The firm issued a hold rating on the stock.

A number of other analysts also recently commented on the company. Royal Bank of Canada reissued a “sector perform” rating and issued a $318.00 price objective on shares of Boston Beer in a research note on Friday, October 25th. Jefferies Financial Group lowered shares of Boston Beer from a “buy” rating to a “hold” rating and cut their target price for the company from $355.00 to $325.00 in a research note on Friday, October 25th. UBS Group lifted their price target on shares of Boston Beer from $300.00 to $309.00 in a research report on Thursday, October 24th. Piper Sandler increased their price objective on Boston Beer from $325.00 to $330.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Finally, Roth Mkm reaffirmed a “buy” rating and set a $389.00 target price on shares of Boston Beer in a research report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Boston Beer has an average rating of “Hold” and an average price target of $314.82.

Boston Beer Price Performance

Shares of Boston Beer stock opened at $314.81 on Friday. Boston Beer has a 1-year low of $254.40 and a 1-year high of $371.65. The company has a market capitalization of $3.61 billion, a P/E ratio of 46.30, a PEG ratio of 1.21 and a beta of 1.07. The business’s fifty day moving average price is $300.11 and its two-hundred day moving average price is $288.15.

Institutional Investors Weigh In On Boston Beer

A number of hedge funds have recently bought and sold shares of SAM. First Horizon Advisors Inc. raised its stake in Boston Beer by 105.1% during 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. Covestor Ltd lifted its stake in shares of Boston Beer by 36.6% in the third quarter. Covestor Ltd now owns 127 shares of the company’s stock valued at $37,000 after buying an additional 34 shares during the period. True Wealth Design LLC acquired a new stake in Boston Beer during the third quarter worth about $47,000. ORG Partners LLC acquired a new stake in Boston Beer during the second quarter worth about $48,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Boston Beer during the third quarter valued at about $49,000. 81.13% of the stock is currently owned by 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.