Boston Beer (NYSE:SAM) Stock Rating Upgraded by Citigroup

Boston Beer (NYSE:SAM) was upgraded by research analysts at Citigroup from a “neutral” rating to a “buy” rating in a research note issued to investors on Thursday, MarketBeat Ratings reports. The brokerage currently has a $280.00 price target on the stock, up from their prior price target of $265.00. Citigroup’s target price indicates a potential upside of 22.99% from the company’s current price.

SAM has been the topic of a number of other reports. Needham & Company LLC assumed coverage on shares of Boston Beer in a report on Friday, December 6th. They set a “hold” rating on the stock. Piper Sandler dropped their price objective on shares of Boston Beer from $275.00 to $240.00 and set a “neutral” rating on the stock in a report on Wednesday, February 26th. StockNews.com lowered shares of Boston Beer from a “buy” rating to a “hold” rating in a report on Wednesday, March 5th. Roth Mkm restated a “buy” rating and set a $349.00 price objective (down from $389.00) on shares of Boston Beer in a report on Wednesday, February 26th. Finally, Morgan Stanley dropped their price objective on shares of Boston Beer from $290.00 to $270.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $292.40.

Boston Beer Stock Up 0.1 %

Shares of NYSE SAM opened at $227.66 on Thursday. The company’s fifty day moving average is $239.53 and its 200-day moving average is $275.64. The stock has a market cap of $2.56 billion, a price-to-earnings ratio of 33.48, a P/E/G ratio of 1.23 and a beta of 1.14. Boston Beer has a twelve month low of $215.10 and a twelve month high of $339.77.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SAM. Norges Bank bought a new stake in shares of Boston Beer during the 4th quarter worth about $30,741,000. J. Goldman & Co LP boosted its holdings in shares of Boston Beer by 251.8% during the 4th quarter. J. Goldman & Co LP now owns 119,687 shares of the company’s stock worth $35,904,000 after buying an additional 85,669 shares during the period. Cooper Creek Partners Management LLC bought a new stake in shares of Boston Beer during the 4th quarter worth about $25,054,000. Global Alpha Capital Management Ltd. bought a new stake in shares of Boston Beer during the 4th quarter worth about $23,349,000. Finally, Freestone Grove Partners LP bought a new stake in shares of Boston Beer during the 4th quarter worth about $21,412,000. 81.13% of the stock is currently owned by institutional investors and hedge funds.

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.