Deutsche Bank Aktiengesellschaft Lowers Boston Beer (NYSE:SAM) Price Target to $277.00

by · The Markets Daily

Boston Beer (NYSE:SAM – Get Free Report) had its price objective cut by analysts at Deutsche Bank Aktiengesellschaft from $281.00 to $277.00 in a note issued to investors on Thursday. The brokerage presently has a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft’s price objective suggests a potential downside of 7.91% from the company’s previous close.

Several other brokerages have also weighed in on SAM. Piper Sandler decreased their price objective on Boston Beer from $344.00 to $325.00 and set an “overweight” rating for the company in a report on Friday, July 26th. Roth Mkm reissued a “buy” rating and issued a $389.00 price target on shares of Boston Beer in a research report on Wednesday. Finally, Royal Bank of Canada cut their price objective on shares of Boston Beer from $332.00 to $318.00 and set a “sector perform” rating for the company in a report on Friday, July 26th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Boston Beer presently has an average rating of “Hold” and an average price target of $322.58.

Check Out Our Latest Research Report on SAM

Boston Beer Price Performance

Shares of Boston Beer stock traded down $0.72 during trading hours on Thursday, hitting $300.79. 100,120 shares of the company’s stock traded hands, compared to its average volume of 158,683. The stock has a market capitalization of $3.53 billion, a price-to-earnings ratio of 39.34, a PEG ratio of 1.23 and a beta of 1.06. Boston Beer has a 12-month low of $254.40 and a 12-month high of $378.08. The company has a fifty day simple moving average of $279.01 and a 200-day simple moving average of $282.17.

Boston Beer (NYSE:SAM – Get Free Report) last posted its quarterly earnings data on Thursday, July 25th. The company reported $4.39 EPS for the quarter, missing the consensus estimate of $4.99 by ($0.60). Boston Beer had a net margin of 4.39% and a return on equity of 9.69%. The firm had revenue of $579.10 million during the quarter, compared to analysts’ expectations of $597.33 million. During the same quarter in the previous year, the company posted $4.72 EPS. Boston Beer’s revenue for the quarter was down 4.0% on a year-over-year basis. On average, analysts forecast that Boston Beer will post 9.63 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. LRI Investments LLC purchased a new stake in Boston Beer in the first quarter worth $28,000. ORG Partners LLC bought a new position in shares of Boston Beer in the 2nd quarter worth about $48,000. Sachetta LLC increased its stake in shares of Boston Beer by 1,533.3% in the 2nd quarter. Sachetta LLC now owns 245 shares of the company’s stock worth $68,000 after acquiring an additional 230 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its position in Boston Beer by 61.3% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 250 shares of the company’s stock valued at $75,000 after acquiring an additional 95 shares during the period. Finally, Quarry LP boosted its stake in Boston Beer by 984.0% during the second quarter. Quarry LP now owns 271 shares of the company’s stock worth $83,000 after acquiring an additional 246 shares in the last quarter. Institutional investors own 81.13% of the company’s stock.

About Boston Beer

(Get Free Report)

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.

Read More