Boston Beer Co. (SAM) Trading Down 2.6%
Boston Beer Co. (NYSE:SAM) dropped 2.6% during trading on Tuesday . The stock traded as low as $185.29 and last traded at $185.29, with a volume of 114,486 shares changing hands. The stock had previously closed at $190.28.
SAM has been the topic of several recent analyst reports. Berenberg Bank raised Boston Beer from a “sell” rating to a “hold” rating and set a $135.00 price objective on the stock in a research report on Thursday, May 19th. Susquehanna reaffirmed a “neutral” rating on shares of Boston Beer in a research report on Sunday, July 17th. Jefferies Group reaffirmed a “hold” rating on shares of Boston Beer in a research report on Wednesday, August 10th. Finally, Zacks Investment Research raised Boston Beer from a “strong sell” rating to a “hold” rating in a research report on Tuesday, June 28th. Two equities research analysts have rated the stock with a sell rating and ten have given a hold rating to the company. Boston Beer presently has an average rating of “Hold” and an average target price of $178.00.
The company has a 50-day moving average of $181.38 and a 200-day moving average of $173.27. The company has a market cap of $2.22 billion and a PE ratio of 27.00.
Boston Beer (NYSE:SAM) last posted its quarterly 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 firm had revenue of $244.80 million for the quarter, compared to analysts’ expectations of $238.87 million. On average, analysts expect that Boston Beer Co. will post $6.55 EPS 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 stock was sold at an average price of $158.30, for a total transaction of $631,775.30. Following the completion of the transaction, the insider now owns 4,428 shares of the company’s stock, valued at $700,952.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 value 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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