Boston Beer Co Inc (SAM) was Reiterated by RBC Capital Mkts to “Sector Perform” while Lowering the Price Target of the company shares to $ 172 from a previous price target of $183 . RBC Capital Mkts advised their investors in a research report released on Apr 22, 2016.
Many Wall Street Analysts have commented on Boston Beer Co Inc. Boston Beer Co Inc was Upgraded by Citigroup to ” Neutral” on Apr 8, 2016. Shares were Reiterated by Jefferies on Mar 30, 2016 to “Hold” and Lowered the Price Target to $ 174 from a previous price target of $182 .Boston Beer Co Inc was Downgraded by Credit Agricole to ” Underperform” on Mar 8, 2016.
On the company’s financial health, Boston Beer Co Inc reported $0.53 EPS for the quarter, missing the analyst consensus estimate by $ -0.44 based on the information available during the earnings call on Apr 21, 2016. Analyst had a consensus of $0.97. The company had revenue of $188.80 million for the quarter, compared to analysts expectations of $198.15 million. The company’s revenue was down -5.4 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.00 EPS.
Boston Beer Co Inc closed down -4.72 points or -2.65% at $173.31 with 2,09,921 shares getting traded on Wednesday. Post opening the session at $177.43, the shares hit an intraday low of $172.59 and an intraday high of $178.07 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.
In a different news, on Mar 29, 2016, Robert P Pagano (VP, Brand Development) sold 6,000 shares at $189.21 per share price. According to the SEC, on Mar 4, 2016, John C Geist (Chief Sales Officer) sold 7,251 shares at $200.00 per share price. On Mar 3, 2016, Kathleen H Wade (VP,Legal & Corporate Secretary) sold 445 shares at $192.00 per share price, according to the Form-4 filing with the securities and exchange commission.
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. As of December 31 2014 Boston Beer sold approximately 4.1 million barrels of its products. As of December 31 2014 the Company sold over sixty beers under the Samuel Adams or the Sam Adams brand names eleven flavored malt beverages under the Twisted Tea brand name ten hard cider beverages under the Angry Orchard brand name and over twenty beers under four of the brand names of its subsidiary Alchemy & Science. Boston Beer produces malt beverages and hard cider at the Company-owned breweries and under contract arrangements at other brewery locations.