Craft Brew Alliance Inc. (NASDAQ:BREW) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $18.66 and last traded at $17.58, with a volume of 1,044,879 shares changing hands. The stock had previously closed at $14.46.

Several brokerages have recently issued reports on BREW. Zacks Investment Research upgraded shares of Craft Brew Alliance from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a report on Thursday, August 18th. Sidoti upgraded shares of Craft Brew Alliance from a “neutral” rating to a “buy” rating in a report on Thursday, August 4th. Citigroup Inc. lowered their target price on shares of Craft Brew Alliance from $10.00 to $9.00 and set a “neutral” rating for the company in a report on Wednesday, June 15th. Finally, TheStreet upgraded shares of Craft Brew Alliance from a “hold” rating to a “buy” rating in a report on Wednesday, August 10th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $15.00.

The firm has a market capitalization of $340.45 million and a PE ratio of 327.7370. The company’s 50 day moving average is $12.90 and its 200-day moving average is $9.79.

Craft Brew Alliance (NASDAQ:BREW) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported $0.12 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by $0.02. The company had revenue of $62.28 million for the quarter, compared to analysts’ expectations of $61.52 million. During the same quarter last year, the firm earned $0.07 EPS. The business’s revenue for the quarter was up 6.4% compared to the same quarter last year. Analysts forecast that Craft Brew Alliance Inc. will post $0.19 earnings per share for the current year.

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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