Boston Beer Co. (SAM) Sees Unusually-High Trading Volume
Boston Beer Co. (NYSE:SAM) shares saw unusually-high trading volume on Friday . Approximately 220,556 shares traded 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.
SAM has been the subject of several recent research reports. Zacks Investment Research cut Boston Beer from a “hold” rating to a “strong sell” rating in a research note on Thursday, April 28th. Berenberg Bank raised Boston Beer from a “sell” rating to a “hold” rating and set a $135.00 price target for the company in a research note on Thursday, May 19th. Susquehanna reissued a “hold” rating and issued a $165.00 price target on shares of Boston Beer in a research note on Sunday, July 3rd. Finally, Jefferies Group reissued a “hold” rating and issued a $151.00 price target (up previously from $145.00) on shares of Boston Beer in a research note on Monday, July 25th. Two research analysts have rated the stock with a sell rating and ten have assigned a hold rating to the stock. Boston Beer has an average rating of “Hold” and a consensus price target of $178.00.
The stock has a market cap of $2.36 billion and a price-to-earnings ratio of 28.76. The stock has a 50-day moving average of $180.09 and a 200 day moving average of $173.21.
Boston Beer (NYSE:SAM) last posted its earnings results on Thursday, July 21st. The company reported $2.06 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.94 by $0.12. The business had revenue of $244.80 million for the quarter, compared to analysts’ expectations of $238.87 million. Equities research analysts expect that Boston Beer Co. will post $6.55 EPS for the current year.
In other news, VP David L. Grinnell sold 1,000 shares of Boston Beer stock in a transaction dated Thursday, August 18th. The shares were sold at an average price of $187.85, for a total transaction of $187,850.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John C. Geist sold 3,991 shares of Boston Beer stock in a transaction dated Friday, June 10th. The stock was sold at an average price of $158.30, for a total transaction of $631,775.30. Following the sale, the insider now owns 4,428 shares of the company’s stock, valued at $700,952.40. 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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