Brokerage firm Cowen & Co. Downgrades its rating on Boston Beer Co Inc(NYSE:SAM). The shares have been rated Underperform. Previously, the analysts had a Market Perform rating on the shares. The rating by Cowen & Co. was issued on Sep 21, 2016.
Boston Beer Co Inc (SAM) shares turned negative on Tuesdays trading session with the shares closing down -4.79 points or -3.03% at a volume of 3,50,099. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $158.44. The peak price level was also seen at $158.44 while the days lowest was $151.17. Finally the shares closed at $153.4. The 52-week high of the shares is $260.51 while the 52-week low is $145.3295. According to the latest information available, the market cap of the company is $1,906 M.
Boston Beer Co Inc(SAM) last announced its earnings results on Jul 21, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $244.82M. Analysts had an estimated revenue of $240.19M. Earnings per share were $2.06. Analysts had estimated an EPS of $1.95.
Several Insider Transactions has been reported to the SEC. On Sep 21, 2016, Martin F Roper (President and C.E.O.) sold 5,000 shares at $154.20 per share price.Also, On Aug 19, 2016, David L. Grinnell (Vice President of Brewing) sold 1,000 shares at $187.69 per share price.On Jun 13, 2016, John C Geist (Chief Sales Officer) sold 3,991 shares at $158.00 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.