Boston Beer (NYSE:SAM) Stock Rating Upgraded by StockNews.com

Boston Beer (NYSE:SAM) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Tuesday.

SAM has been the topic of a number of other research reports. Needham & Company LLC assumed coverage on shares of Boston Beer in a research report on Friday, December 6th. They set a “hold” rating on the stock. UBS Group reduced 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. Citigroup lowered their target price on Boston Beer from $335.00 to $290.00 and set a “neutral” rating for the company in a report on Wednesday, January 15th. Finally, Piper Sandler downgraded Boston Beer from an “overweight” rating to a “neutral” rating and cut their price target for the company from $370.00 to $275.00 in a report on Thursday, January 23rd. One 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 MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $293.40.

Boston Beer Trading Up 2.8 %

SAM opened at $240.91 on Tuesday. The company has a market capitalization of $2.77 billion, a price-to-earnings ratio of 35.43, a PEG ratio of 1.23 and a beta of 1.06. Boston Beer has a 12-month low of $222.27 and a 12-month high of $371.65. The business’s fifty day simple moving average is $259.81 and its 200-day simple moving average is $280.78.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Creative Planning grew its stake in shares of Boston Beer by 6.5% during the third quarter. Creative Planning now owns 2,540 shares of the company’s stock worth $734,000 after acquiring an additional 155 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in Boston Beer by 389.2% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 5,714 shares of the company’s stock worth $1,652,000 after purchasing an additional 4,546 shares during the last quarter. Pallas Capital Advisors LLC grew its position in Boston Beer by 323.5% during the 3rd quarter. Pallas Capital Advisors LLC now owns 3,261 shares of the company’s stock worth $984,000 after purchasing an additional 2,491 shares during the last quarter. Kornitzer Capital Management Inc. KS increased its stake in Boston Beer by 3.4% during the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 3,968 shares of the company’s stock valued at $1,147,000 after purchasing an additional 129 shares in the last quarter. Finally, Capital Performance Advisors LLP purchased a new position in shares of Boston Beer in the third quarter worth $138,000. 81.13% of the stock is owned by institutional investors and hedge funds.

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.