Boston Beer (NYSE:SAM) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Boston Beer (NYSE:SAM) from a hold rating to a buy rating in a report released on Tuesday.

A number of other research analysts also recently commented on the stock. UBS Group increased their price objective on shares of Boston Beer from $300.00 to $309.00 in a research note on Thursday, October 24th. Needham & Company LLC began coverage on shares of Boston Beer in a research report on Friday, December 6th. They set a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft lowered their price objective on Boston Beer from $281.00 to $277.00 and set a “hold” rating for the company in a report on Thursday, October 24th. Piper Sandler increased their target price on Boston Beer from $325.00 to $330.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Finally, Jefferies Financial Group lowered Boston Beer from a “buy” rating to a “hold” rating and decreased their target price for the stock from $355.00 to $325.00 in a research report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $314.82.

Boston Beer Trading Down 3.1 %

Boston Beer stock opened at $280.06 on Tuesday. Boston Beer has a 52 week low of $254.40 and a 52 week high of $371.65. The stock has a market cap of $3.22 billion, a P/E ratio of 41.19, a price-to-earnings-growth ratio of 1.21 and a beta of 1.08. The stock has a 50 day moving average of $307.31 and a 200-day moving average of $290.95.

Hedge Funds Weigh In On Boston Beer

Several hedge funds and other institutional investors have recently modified their holdings of SAM. First Horizon Advisors Inc. increased its holdings in shares of Boston Beer by 105.1% in the 3rd quarter. First Horizon Advisors Inc. now owns 121 shares of the company’s stock worth $35,000 after acquiring an additional 62 shares during the period. Covestor Ltd increased 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 purchasing an additional 34 shares during the period. GAMMA Investing LLC increased its stake in shares of Boston Beer by 59.3% in the fourth quarter. GAMMA Investing LLC now owns 129 shares of the company’s stock valued at $39,000 after purchasing an additional 48 shares during the period. True Wealth Design LLC bought a new stake in shares of Boston Beer during the third quarter valued at approximately $47,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Boston Beer during the third quarter worth approximately $49,000. 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.