Craft Brew Alliance, Inc. (NASDAQ:BREW) Stock Rating Upgraded by BidaskClub
Craft Brew Alliance, Inc. (NASDAQ:BREW) was upgraded by BidaskClub from a “hold” rating to a “buy” rating in a report released on Wednesday.
Several other analysts have also recently issued reports on BREW. Zacks Investment Research upgraded Craft Brew Alliance from a “strong sell” rating to a “hold” rating in a research report on Thursday, May 4th. Cowen and Company reiterated an “outperform” rating and set a $20.00 target price (up previously from $19.00) on shares of Craft Brew Alliance in a research report on Wednesday. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $20.00.
Shares of Craft Brew Alliance (BREW) opened at 18.20 on Wednesday. The stock’s 50 day moving average price is $17.43 and its 200-day moving average price is $15.54. Craft Brew Alliance has a 12 month low of $12.00 and a 12 month high of $22.40. The company has a market cap of $351.13 million, a P/E ratio of 674.07 and a beta of 0.47.
Craft Brew Alliance (NASDAQ:BREW) last released its earnings results on Wednesday, August 2nd. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by $0.02. Craft Brew Alliance had a return on equity of 0.80% and a net margin of 0.27%. The business had revenue of $60.55 million for the quarter, compared to analysts’ expectations of $58.54 million. During the same quarter in the prior year, the business posted $0.12 EPS. The business’s revenue for the quarter was down 2.8% compared to the same quarter last year. Equities research analysts expect that Craft Brew Alliance will post $0.14 earnings per share for the current year.
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Several hedge funds have recently added to or reduced their stakes in the company. State Street Corp boosted its stake in Craft Brew Alliance by 4.4% in the fourth quarter. State Street Corp now owns 185,074 shares of the company’s stock valued at $3,128,000 after buying an additional 7,825 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Craft Brew Alliance by 4.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,225,242 shares of the company’s stock worth $20,707,000 after buying an additional 50,895 shares during the last quarter. AQR Capital Management LLC purchased a new position in shares of Craft Brew Alliance during the fourth quarter worth approximately $245,000. Teachers Advisors LLC raised its position in shares of Craft Brew Alliance by 53.2% in the fourth quarter. Teachers Advisors LLC now owns 25,000 shares of the company’s stock worth $423,000 after buying an additional 8,677 shares during the last quarter. Finally, Wells Fargo & Company MN raised its position in shares of Craft Brew Alliance by 40.8% in the first quarter. Wells Fargo & Company MN now owns 73,304 shares of the company’s stock worth $979,000 after buying an additional 21,231 shares during the last quarter. Hedge funds and other institutional investors own 32.36% of the company’s stock.
About Craft Brew Alliance
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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