Piper Sandler Cuts Boston Beer (NYSE:SAM) Price Target to $230.00

Boston Beer (NYSE:SAM) had its target price cut by Piper Sandler from $240.00 to $230.00 in a research report released on Thursday morning,Benzinga reports. They currently have a neutral rating on the stock.

Several other brokerages have also recently commented on SAM. UBS Group decreased their target price on Boston Beer from $315.00 to $290.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Citigroup upped their target price on Boston Beer from $280.00 to $285.00 and gave the company a “buy” rating in a report on Monday, April 14th. Berenberg Bank initiated coverage on shares of Boston Beer in a research report on Wednesday, April 2nd. They set a “hold” rating and a $281.10 price objective on the stock. Roth Mkm reiterated a “buy” rating and issued a $349.00 target price (down previously from $389.00) on shares of Boston Beer in a research report on Wednesday, February 26th. Finally, StockNews.com downgraded shares of Boston Beer from a “buy” rating to a “hold” rating in a research note on Wednesday, March 5th. Ten equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Boston Beer has an average rating of “Hold” and a consensus price target of $293.91.

Boston Beer Price Performance

Boston Beer stock opened at $238.98 on Thursday. Boston Beer has a fifty-two week low of $215.10 and a fifty-two week high of $339.77. The firm’s 50 day simple moving average is $235.44 and its 200-day simple moving average is $269.96. The company has a market cap of $2.69 billion, a P/E ratio of 35.14, a price-to-earnings-growth ratio of 1.23 and a beta of 1.26.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Entropy Technologies LP acquired a new stake in shares of Boston Beer in the fourth quarter valued at about $368,000. Legato Capital Management LLC bought a new stake in Boston Beer during the 4th quarter valued at approximately $1,966,000. Merit Financial Group LLC acquired a new stake in Boston Beer in the 4th quarter valued at approximately $434,000. Charles Schwab Investment Management Inc. increased its position in Boston Beer by 5.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 94,356 shares of the company’s stock worth $28,305,000 after buying an additional 4,675 shares during the period. Finally, Norges Bank acquired a new position in shares of Boston Beer during the fourth quarter worth approximately $30,741,000. 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.