The Boston Beer Company, Inc. (NYSE:SAM) Receives $314.82 Average Target Price from Analysts

The Boston Beer Company, Inc. (NYSE:SAM) has been assigned a consensus recommendation of “Hold” from the twelve analysts that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $314.82.

Several analysts recently commented on SAM shares. Deutsche Bank Aktiengesellschaft dropped their price target on Boston Beer from $281.00 to $277.00 and set a “hold” rating for the company in a research report on Thursday, October 24th. Piper Sandler boosted 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. UBS Group increased their price target on Boston Beer from $300.00 to $309.00 in a report on Thursday, October 24th. Royal Bank of Canada reissued a “sector perform” rating and set a $318.00 price objective on shares of Boston Beer in a research note on Friday, October 25th. Finally, Needham & Company LLC started coverage on Boston Beer in a research note on Friday, December 6th. They issued a “hold” rating for the company.

Boston Beer Stock Down 0.5 %

SAM opened at $315.07 on Monday. The company has a market cap of $3.62 billion, a PE ratio of 46.33, a price-to-earnings-growth ratio of 1.21 and a beta of 1.07. Boston Beer has a twelve month low of $254.40 and a twelve month high of $371.65. The company has a 50-day moving average price of $301.93 and a 200 day moving average price of $289.11.

Institutional Investors Weigh In On Boston Beer

Institutional investors have recently modified their holdings of the company. First Horizon Advisors Inc. increased its stake in Boston Beer by 105.1% during the third quarter. First Horizon Advisors Inc. now owns 121 shares of the company’s stock worth $35,000 after purchasing an additional 62 shares during the period. Covestor Ltd raised its holdings in shares of Boston Beer by 36.6% in the 3rd quarter. Covestor Ltd now owns 127 shares of the company’s stock valued at $37,000 after purchasing an additional 34 shares in the last quarter. True Wealth Design LLC acquired a new position in shares of Boston Beer during the third quarter worth $47,000. ORG Partners LLC purchased a new stake in Boston Beer during the second quarter worth approximately $48,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Boston Beer in the third quarter valued at $49,000. 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.