Boston Beer Co. (SAM) Sees Unusually-High Trading Volume
Boston Beer Co. (NYSE:SAM) shares saw unusually-strong trading volume on Friday . Approximately 220,556 shares changed hands during mid-day trading, an increase of 65% from the previous session’s volume of 133,629 shares.The stock last traded at $191.90 and had previously closed at $190.91.
A number of research analysts recently weighed in on SAM shares. Susquehanna restated a “hold” rating and issued a $165.00 price objective on shares of Boston Beer in a report on Sunday, July 3rd. Jefferies Group restated a “hold” rating on shares of Boston Beer in a report on Wednesday, August 10th. Berenberg Bank upgraded shares of Boston Beer from a “sell” rating to a “hold” rating and set a $135.00 price objective for the company in a report on Thursday, May 19th. Finally, Zacks Investment Research upgraded shares of Boston Beer from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 28th. Two research analysts have rated the stock with a sell rating and ten have issued a hold rating to the stock. Boston Beer presently has an average rating of “Hold” and a consensus target price of $178.00.
The company has a market capitalization of $2.36 billion and a price-to-earnings ratio of 28.76. The firm has a 50 day moving average of $180.09 and a 200 day moving average of $173.21.
Boston Beer (NYSE:SAM) last announced its quarterly earnings data on Thursday, July 21st. The company reported $2.06 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.94 by $0.12. The company had revenue of $244.80 million for the quarter, compared to analysts’ expectations of $238.87 million. Analysts expect that Boston Beer Co. will post $6.55 earnings per share for the current fiscal year.
In other Boston Beer news, insider John C. Geist sold 3,991 shares of the stock in a transaction that occurred on Friday, June 10th. The shares were sold at an average price of $158.30, for a total value of $631,775.30. Following the completion of the sale, the insider now owns 4,428 shares of the company’s stock, valued at $700,952.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Tybourne Capital Management Hk sold 600 shares of the stock in a transaction that occurred on Monday, July 25th. The shares were sold at an average price of $186.33, for a total transaction of $111,798.00. The disclosure for this sale can be found here.
The Boston Beer Company, Inc (Boston Beer) is a craft brewer in the United States. The Company is engaged in the business of producing and selling alcohol beverages primarily in the domestic market and in international markets. The Company operates through two segments: Boston Beer Company segment and A&S Brewing Collaborative segment.
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