Boston Beer (NYSE:SAM) Raised to Buy at Citigroup

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

Several other analysts have also weighed in on SAM. UBS Group dropped 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. Needham & Company LLC began coverage on shares of Boston Beer in a report on Friday, December 6th. They set a “hold” rating for the company. Morgan Stanley dropped their price objective on shares of Boston Beer from $290.00 to $270.00 and set an “equal weight” rating for the company 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. Finally, Roth Mkm reaffirmed a “buy” rating and set a $349.00 price objective (down previously from $389.00) on shares of Boston Beer in a report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $292.40.

Boston Beer Stock Up 0.1 %

NYSE:SAM opened at $227.66 on Thursday. The firm has a market capitalization of $2.56 billion, a PE ratio of 33.48, a price-to-earnings-growth ratio of 1.23 and a beta of 1.14. The firm has a 50-day moving average price of $239.53 and a 200 day moving average price of $275.64. Boston Beer has a 12-month low of $215.10 and a 12-month high of $339.77.

Hedge Funds Weigh In On Boston Beer

Hedge funds and other institutional investors have recently bought and sold shares of the business. Entropy Technologies LP bought a new position in Boston Beer in the fourth quarter valued at approximately $368,000. Legato Capital Management LLC bought a new position in Boston Beer in the fourth quarter valued at approximately $1,966,000. Merit Financial Group LLC bought a new position in Boston Beer in the fourth quarter valued at approximately $434,000. Point72 Hong Kong Ltd bought a new position in Boston Beer in the third quarter valued at approximately $1,746,000. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Boston Beer by 5.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 94,356 shares of the company’s stock worth $28,305,000 after purchasing an additional 4,675 shares in the last quarter. 81.13% of the stock is 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.