Jefferies analyst Kevin Grundy reiterated a Hold rating on Boston Beer (NYSE: SAM) on July 9 and set a price target of $296. The company’s shares closed yesterday at $326.20, close to its 52-week high of $327.85.
According to TipRanks.com, Grundy is a 4-star analyst with an average return of 6.6% and a 68.2% success rate. Grundy covers the Consumer Goods sector, focusing on stocks such as Coca-Cola European Partners, Edgewell Personal Care, and Monster Beverage Corp.
Currently, the analyst consensus on Boston Beer is a Hold with an average price target of $251.67, a -22.8% downside from current levels. In a report issued on July 11, BMO Capital also reiterated a Hold rating on the stock with a $270 price target.
Boston Beer’s market cap is currently $3.82B and has a P/E ratio of 38.38. The company has a Price to Book ratio of 8.75.
Based on the recent corporate insider activity of 48 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of SAM in relation to earlier this year. Most recently, in May 2018, Gregg Tanner, a Director at SAM bought 10,000 shares for a total of $344,800.
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Boston Beer Co., Inc. engages in the business of alcoholic beverages. It operates through Boston Beer Company, and A&S Brewing segments. The Boston Beer Company segment comprises of Samuel Adams, Twisted Tea, Angry Orchard, and Truly Spiked a& Sparkling brands.