Craft Brew Alliance Inc. (BREW) Reaches New 12-Month High at $22.40
Shares of Craft Brew Alliance Inc. (NASDAQ:BREW) hit a new 52-week high during trading on Tuesday . The stock traded as high as $22.40 and last traded at $20.08, with a volume of 492,952 shares traded. The stock had previously closed at $21.38.
Several brokerages recently commented on BREW. Citigroup Inc. boosted their price target on Craft Brew Alliance from $10.00 to $14.00 and gave the stock a “neutral” rating in a research report on Friday, August 5th. TheStreet upgraded Craft Brew Alliance from a “hold” rating to a “buy” rating in a report on Wednesday, August 10th. Zacks Investment Research upgraded 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. Finally, Sidoti upgraded Craft Brew Alliance from a “neutral” rating to a “buy” rating in a report on Thursday, August 4th. 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 an average rating of “Buy” and an average price target of $15.00.
The firm has a market capitalization of $385.03 million and a P/E ratio of 370.648. The stock’s 50 day moving average price is $13.84 and its 200-day moving average price is $10.13.
Craft Brew Alliance (NASDAQ:BREW) last posted 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 firm had revenue of $62.28 million for the quarter, compared to the consensus estimate of $61.52 million. The company’s revenue was up 6.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.07 EPS. Equities research analysts expect that Craft Brew Alliance Inc. will post $0.20 EPS for the current fiscal year.
In other news, Director John D. Rogers, Jr. sold 12,376 shares of Craft Brew Alliance stock in a transaction that occurred on Friday, August 26th. The shares were sold at an average price of $20.05, for a total value of $248,138.80. Following the completion of the transaction, the director now owns 29,301 shares in the company, valued at $587,485.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.