Citigroup Maintains Craft Brew Alliance Inc to Neutral with Price Target $20.00

Brokerage firm Citigroup Maintains its rating on Craft Brew Alliance Inc(NASDAQ:BREW). In a research note issued to the investors, the brokerage major Raises the price-target to $20.00 per share. The shares have been rated Neutral. The rating by Citigroup was issued on Sep 2, 2016.

In a different note, On Aug 5, 2016, Citigroup said it Maintains its rating on Craft Brew Alliance Inc. In the research note, the firm Raises the price-target to $10.00 per share. The shares have been rated ‘Neutral’ by the firm. On Aug 4, 2016, Sidoti & Co. said it Upgrades its rating on Craft Brew Alliance Inc. The shares have been rated ‘Buy’ by the firm. On Jun 15, 2016, Citigroup said it Maintains its rating on Craft Brew Alliance Inc. In the research note, the firm Raises the price-target to $9.00 per share. The shares have been rated ‘Neutral’ by the firm.

Craft Brew Alliance Inc (BREW) shares turned negative on Thursdays trading session with the shares closing down -0.44 points or -2.22% at a volume of 3,37,013. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $19.95. The peak price level was also seen at $19.95 while the days lowest was $18.724. Finally the shares closed at $19.41. The 52-week high of the shares is $22.402 while the 52-week low is $6.8. According to the latest information available, the market cap of the company is $373 M.

Craft Brew Alliance Inc(BREW) last announced its earnings results on Aug 3, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $66.29M. Analysts had an estimated revenue of $61.52M. Earnings per share were $0.12. Analysts had estimated an EPS of $0.14.

Several Insider Transactions has been reported to the SEC. On Aug 29, 2016, John D Jr Rogers (director) sold 12,376 shares at $20.05 per share price.Also, On Aug 29, 2016, Kenneth C Kunze (Chief Marketing Officer) purchased 1,100 shares at $19.90 per share price.

Craft Brew Alliance Inc. is an independent craft brewing company. The Company operates in two segments: Beer Related operations and Pubs operations. Beer Related operations include the brewing and sale of craft beers and cider from its breweries both domestically and internationally. Pubs operations primarily include its five pubs four of which are located adjacent to its Beer Related operations as well as other merchandise sales and sales of its beers directly to customers. The Company’s brand portfolio comprises the Kona Brewing Company Widmer Brothers Brewing Redhook Brewery Omission Beer and Square Mile Cider Company brand families. It produces a variety of specialty craft beers and ciders. The Company brews its beers using hops malted barley wheat rye and other natural traditional and non-traditional ingredients. To craft its ciders the Company uses three apple varieties from the Pacific Northwest and then uses a lager beer yeast to make a hard cider.

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