In a report issued on July 17, Nik Modi from RBC Capital maintained a Buy rating on Boston Beer (SAM), with a price target of $635.00. The company’s shares closed last Friday at $643.58, close to its 52-week high of $645.86.
According to TipRanks.com, Modi is a 5-star analyst with an average return of 8.2% and a 69.5% success rate. Modi covers the Consumer Goods sector, focusing on stocks such as The Estée Lauder Companies, Reynolds Consumer Products, and Spectrum Brands Holdings.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Boston Beer with a $579.00 average price target, which is a -8.2% downside from current levels. In a report issued on July 14, Evercore ISI also initiated coverage with a Buy rating on the stock with a $725.00 price target.
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Based on Boston Beer’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $331 million and net profit of $18.23 million. In comparison, last year the company earned revenue of $252 million and had a net profit of $23.69 million.
Based on the recent corporate insider activity of 119 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SAM in relation to earlier this year. Most recently, in May 2020, Cynthia Fisher, a Director at SAM bought 400 shares for a total of $41,868.
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Boston Beer Co., Inc. engages in the business of alcoholic beverages. Its brands include Samuel Adams, Twisted Tea, Angry Orchard, and Truly Hard Seltzer. The company was founded by C. James Koch in 1984 and is headquartered in Boston, MA.
