As reported by Barrons: "Analyst Kevin Grundy downgraded Boston Beer to Underperform from Hold, cutting his price target to $275 for the former a" You can read more about it here. Despite the bad news, Boston Beer Company rose 2.0% during the afternoon session to $329.03 per share
The Boston Beer Company, Inc. produces and sells alcohol beverages primarily in the United States. The company belongs to the Consumer Defensive sector, which has an average price to earnings (P/E) ratio of 24.21 and an average price to book (P/B) ratio of 4.09. In contrast, Boston Beer Company has a trailing 12 month P/E ratio of 153.8 and a P/B ratio of 3.7.
Boston Beer Company has moved -35.8% over the last year compared to -18.6% for the S&P 500 -- a difference of -17.1%. Boston Beer Company has a 52 week high of $535 and a 52 week low of $287. At today's price of $329.03 per share, Boston Beer Company is -1.22% away from its target price of $333.11, and on average, analysts give the stock a rating of hold. 8.8% of the company's shares are linked to short positions, and 84.6% of the shares are owned by institutional investors.