The Goldman Sachs Group Issues Pessimistic Forecast for Boston Beer (NYSE:SAM) Stock Price

Boston Beer (NYSE:SAM) had its price target decreased by The Goldman Sachs Group from $219.00 to $187.00 in a research report report published on Monday,Benzinga reports. The Goldman Sachs Group currently has a sell rating on the stock.

SAM has been the topic of several other reports. Morgan Stanley dropped their price objective on shares of Boston Beer from $290.00 to $270.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 26th. Roth Mkm restated a “buy” rating and set a $349.00 target price (down from $389.00) on shares of Boston Beer in a research report on Wednesday, February 26th. Cfra Research raised shares of Boston Beer from a “moderate sell” rating to a “moderate buy” rating in a report on Thursday, April 24th. Berenberg Bank started coverage on Boston Beer in a research report on Wednesday, April 2nd. They set a “hold” rating and a $281.10 price target on the stock. Finally, Piper Sandler decreased their price objective on Boston Beer from $240.00 to $230.00 and set a “neutral” rating for the company in a report on Thursday, April 17th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $276.21.

Boston Beer Stock Performance

Boston Beer stock opened at $188.58 on Monday. The business’s 50-day simple moving average is $229.55 and its two-hundred day simple moving average is $246.42. The company has a market cap of $2.10 billion, a PE ratio of 31.27, a PEG ratio of 1.44 and a beta of 1.05. Boston Beer has a fifty-two week low of $188.20 and a fifty-two week high of $329.55.

Boston Beer (NYSE:SAM) last released its earnings results on Thursday, April 24th. The company reported $2.16 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $1.38. The firm had revenue of $481.36 million during the quarter, compared to the consensus estimate of $436.27 million. Boston Beer had a return on equity of 13.81% and a net margin of 3.30%. The company’s revenue was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.04 earnings per share. As a group, analysts predict that Boston Beer will post 9.29 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Rossby Financial LCC purchased a new stake in Boston Beer in the 1st quarter worth $25,000. EverSource Wealth Advisors LLC grew its position in shares of Boston Beer by 2,225.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 93 shares of the company’s stock valued at $28,000 after purchasing an additional 89 shares during the period. Elequin Capital LP acquired a new stake in shares of Boston Beer in the first quarter valued at about $30,000. GeoWealth Management LLC purchased a new stake in shares of Boston Beer during the fourth quarter worth about $35,000. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in shares of Boston Beer during the first quarter worth about $44,000. Hedge funds and other institutional investors own 81.13% of the company’s stock.

About Boston Beer

The Boston Beer Company, Inc produces and sells alcohol beverages primarily in the United States. The company's flagship beer is Samuel Adams Boston Lager. It offers various beers, hard ciders, flavored malt beverages, and hard seltzers under the Samuel Adams, Twisted Tea, Truly, Angry Orchard, Dogfish Head, Angel City, and Coney Island brand names.