Craft Brew Alliance Inc. (BREW) Trading Up 7.7%
Shares of Craft Brew Alliance Inc. (NASDAQ:BREW) were up 7.7% during mid-day trading on Thursday . The company traded as high as $12.39 and last traded at $12.39, with a volume of 76,024 shares changing hands. The stock had previously closed at $11.50.
A number of analysts recently issued reports on BREW shares. Zacks Investment Research raised Craft Brew Alliance from a “strong sell” rating to a “hold” rating in a research report on Monday, May 9th. Citigroup Inc. lowered their target price on Craft Brew Alliance from $10.00 to $9.00 and set a “neutral” rating on the stock in a research report on Wednesday, June 15th. Finally, Sidoti raised Craft Brew Alliance from a “neutral” rating to a “buy” rating in a research report on Thursday.
The firm has a market cap of $289.34 million and a PE ratio of 1675.56. The firm has a 50-day moving average price of $11.45 and a 200 day moving average price of $9.19.
Craft Brew Alliance (NASDAQ:BREW) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $0.12 EPS for the quarter, missing the Zacks’ consensus estimate of $0.14 by $0.02. The business had revenue of $62.28 million for the quarter, compared to analyst estimates of $61.52 million. The company’s revenue was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.07 earnings per share. On average, analysts forecast that Craft Brew Alliance Inc. will post $0.19 EPS for the current year.
An institutional investor recently raised its position in Craft Brew Alliance stock. Dimensional Fund Advisors LP boosted its position in shares of Craft Brew Alliance Inc. (NASDAQ:BREW) by 3.4% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 1,078,300 shares of the company’s stock after buying an additional 35,330 shares during the period. Dimensional Fund Advisors LP owned approximately 5.62% of Craft Brew Alliance worth $9,025,000 as of its most recent SEC filing.
Craft Brew Alliance, Inc is a craft brewing company that is engaged in brewing, branding and bringing to market American craft beers. The Company operates through two segments: Beer Related operations, which include the brewing operations and related domestic and international beer and cider sales of its Kona, Widmer Brothers, Redhook and Omission beer brands, and Square Mile cider brand, and Pubs operations, which include its approximately five pubs, over four of which are located adjacent to its Beer Related operations, as well as other merchandise sales, and sales of its beers directly to customers.
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