Craft Brew Alliance Inc. (BREW) Reaches New 52-Week High at $16.05
Craft Brew Alliance Inc. (NASDAQ:BREW) shares hit a new 52-week high during trading on Thursday . The company traded as high as $16.05 and last traded at $15.69, with a volume of 91,605 shares changing hands. The stock had previously closed at $15.59.
BREW has been the subject of a number of research reports. Zacks Investment Research upgraded Craft Brew Alliance from a “strong sell” rating to a “hold” rating in a research note on Monday, May 9th. Citigroup Inc. increased their price target on Craft Brew Alliance from $10.00 to $14.00 and gave the company a “neutral” rating in a research note on Friday, August 5th. Sidoti upgraded Craft Brew Alliance from a “neutral” rating to a “buy” rating in a research note on Thursday, August 4th. Finally, TheStreet upgraded Craft Brew Alliance from a “hold” rating to a “buy” rating in a research note on Wednesday. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Craft Brew Alliance has a consensus rating of “Buy” and an average price target of $14.00.
The company has a market capitalization of $293.36 million and a price-to-earnings ratio of 282.41. The stock has a 50-day moving average of $12.20 and a 200 day moving average of $9.47.
Craft Brew Alliance (NASDAQ:BREW) last issued 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. The business had revenue of $62.28 million for the quarter, compared to analyst estimates of $61.52 million. During the same quarter last year, the firm earned $0.07 earnings per share. Craft Brew Alliance’s revenue for the quarter was up 6.4% on a year-over-year basis. On average, equities research analysts anticipate that Craft Brew Alliance Inc. will post $0.19 earnings per share for the current year.
A hedge fund recently raised its stake 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 disclosure with the Securities and Exchange Commission (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 about 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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