Boston Beer (NYSE:SAM) Cut to Neutral at Piper Sandler

Piper Sandler downgraded shares of Boston Beer (NYSE:SAM) from an overweight rating to a neutral rating in a research report sent to investors on Thursday morning, Marketbeat reports. The brokerage currently has $275.00 target price on the stock, down from their prior target price of $370.00.

Several other analysts also recently weighed in on the company. Roth Mkm restated a “buy” rating and issued a $389.00 price target on shares of Boston Beer in a research note on Wednesday, October 23rd. StockNews.com cut Boston Beer from a “buy” rating to a “hold” rating in a research note on Wednesday, January 15th. Royal Bank of Canada reissued a “sector perform” rating and set a $318.00 price target on shares of Boston Beer in a research report on Friday, October 25th. UBS Group decreased their price objective on shares of Boston Beer from $315.00 to $290.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Finally, Citigroup cut their target price on Boston Beer from $335.00 to $290.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 15th. One analyst has rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $302.90.

Boston Beer Price Performance

Shares of NYSE SAM opened at $248.28 on Thursday. Boston Beer has a 1 year low of $243.20 and a 1 year high of $371.65. The firm has a 50-day moving average of $294.21 and a 200 day moving average of $287.21. The stock has a market cap of $2.85 billion, a P/E ratio of 36.51, a price-to-earnings-growth ratio of 0.79 and a beta of 1.08.

Institutional Trading of Boston Beer

Large investors have recently modified their holdings of the company. Blue Trust Inc. raised its position in Boston Beer by 405.6% in the fourth quarter. Blue Trust Inc. now owns 91 shares of the company’s stock worth $26,000 after acquiring an additional 73 shares during the period. First Horizon Advisors Inc. increased its position in shares of 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 raised 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 acquiring an additional 34 shares during the period. GAMMA Investing LLC boosted its stake in shares of Boston Beer by 59.3% during 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. Finally, True Wealth Design LLC bought a new position in Boston Beer in the 3rd quarter worth about $47,000. Institutional investors own 81.13% of the company’s stock.

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.