Craft Brew Alliance Inc. (BREW) Stock Price Up 6.5%
Craft Brew Alliance Inc. (NASDAQ:BREW) rose 6.5% on Wednesday . The company traded as high as $16.00 and last traded at $15.59, with a volume of 227,799 shares changing hands. The stock had previously closed at $14.64.
BREW has been the subject of a number of recent research reports. Zacks Investment Research downgraded shares of Craft Brew Alliance from a “hold” rating to a “sell” rating in a research report on Tuesday, April 12th. Citigroup Inc. lowered their price objective on shares of Craft Brew Alliance from $10.00 to $9.00 and set a “neutral” rating for the company in a research report on Wednesday, June 15th. Finally, Sidoti raised shares of Craft Brew Alliance from a “neutral” rating to a “buy” rating in a research report on Thursday, August 4th.
The stock has a market capitalization of $299.90 million and a PE ratio of 288.70. The company has a 50-day moving average of $11.91 and a 200-day moving average of $9.37.
Craft Brew Alliance (NASDAQ:BREW) last posted its earnings results on Wednesday, August 3rd. The company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by $0.02. During the same quarter in the previous year, the firm earned $0.07 EPS. The company 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% compared to the same quarter last year. On average, equities analysts forecast that Craft Brew Alliance Inc. will post $0.19 earnings per share 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 Securities and Exchange Commission (SEC). The fund 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 5.62% of Craft Brew Alliance worth $9,025,000 as of its most recent filing with the SEC.
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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