Maxim Group analyst Alexander Scharf maintained a Buy rating on Craft Brewers Alliance (BREW) today and set a price target of $21. The company’s shares closed yesterday at $16.90.
Scharf said:
“Market close, BREW reported weaker-than-expected 4Q18 results, but issued strong 2019 guidance, including shipment growth acceleration to 5%-8% and 140bps-340bps of gross margin expansion. Kona (~63% of shipments) depletion growth accelerated to 11% y/y in 4Q18, and we expect it to lead the way in 2019 as BREW ramps up marketing efforts. The earnings conference call is this morning at 11:30am ET.”
The word on The Street in general, suggests a Hold analyst consensus rating for Craft Brewers Alliance.
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Based on Craft Brewers Alliance’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $61K. In comparison, last year the company had a net profit of $7.84 million.
Based on the recent corporate insider activity of 13 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 BREW in relation to earlier this year.
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Craft Brew Alliance, Inc. is an independent craft brewing company, which engages in brewing, branding, and marketing of craft beers. It operates through the Beer Related Operations and Brewpubs Operations segments.
