Boston Beer Co. (SAM) Trading Down 2.6%
Boston Beer Co. (NYSE:SAM) shares fell 2.6% during trading on Tuesday . The company traded as low as $185.29 and last traded at $185.29, with a volume of 114,486 shares trading hands. The stock had previously closed at $190.28.
A number of research firms have recently commented on SAM. Zacks Investment Research cut Boston Beer from a “hold” rating to a “sell” rating in a research note on Monday, July 25th. Jefferies Group reiterated a “hold” rating and issued a $151.00 price target (up previously from $145.00) on shares of Boston Beer in a report on Monday, July 25th. Susquehanna reiterated a “hold” rating on shares of Boston Beer in a report on Monday, August 22nd. Finally, Berenberg Bank upgraded Boston Beer from a “sell” rating to a “hold” rating and set a $135.00 price target for the company in a report on Thursday, May 19th. Two equities research analysts have rated the stock with a sell rating and ten have assigned a hold rating to the company. Boston Beer currently has a consensus rating of “Hold” and a consensus price target of $178.00.
The company has a market capitalization of $2.28 billion and a P/E ratio of 27.71. The firm has a 50 day moving average price of $181.02 and a 200-day moving average price of $173.20.
Boston Beer (NYSE:SAM) last released its quarterly earnings data on Thursday, July 21st. The company reported $2.06 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.94 by $0.12. The firm had revenue of $244.80 million for the quarter, compared to analysts’ expectations of $238.87 million. Equities research analysts forecast 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 on Thursday, June 16th. The shares were sold at an average price of $156.08, for a total transaction of $156,080.00. Following the completion of the sale, the vice president now directly owns 4,099 shares of the company’s stock, valued at approximately $639,771.92. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider John C. Geist sold 3,991 shares of Boston Beer stock in a transaction on 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 directly 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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