The Boston Beer Company, Inc. (NYSE:SAM) shares have more than 15.28 percent upside potential from the existing levels. This is based on the revised price target of Citigroup at $ 1015.00 on the stock. Incidentally, the brokerage raised its price objective by $ 200 from its earlier level of $ 815.00. However, Citigroup has maintained its Buy rating on the stock, Benzinga reported.
Shares of The Boston Beer Company, Inc. traded low $ -7.27 or -0.83 percent on Wednesday, reaching $ 873.22 with volume of 36.90 thousand shares. The stock opened positive for the day at $ 887.49, after closing the previous day trading at $ 880.49. According to the previous trading day, closing price of $ 880.49, representing a 203.60 % increase from the 52 week low of $ 290.02 and a 1.9 % decrease over the 52 week high of $ 897.50.
With respect to the key metrics, The Boston Beer Company, Inc. stock has advanced $ 328.78 or 60.00 percent, reaching $ 544.44 during the simple moving average (SMA) period of 200 days. Similarly, the stock has increased $ 75.46 or 9.00 percent, before arriving at $ 797.76 during the SMA50-day period.
The Boston Beer Company, Inc. recently reported second quarter financial results on July 23, 2020, after market close, the Boston based company recorded income for the second quarter of $ 4.88 per share, from the revenue of $ 452.14 million. The quarterly earnings escalated 106.78 percent while revenues raised 45.96 percent compared with the same quarter last year. Wall street analysts are predicting, SAM to report 2Q20 income of $ 2.42 per share from revenue of $ 429.58 million. The bottom line results beat street analysts by $ 2.46 or 101.65 percent, at the same time, top line results outshined analysts by $ 22.56 million or 5.25 percent.
Moving forward, analysts surveyed by Thomson Reuters are expecting The Boston Beer Company to report third quarter income of $ 4.60 per share from revenue of $ 516.96 million. For the full year, analysts anticipate top line of $ 1683.37 million, while looking forward to income of $ 12.57 per share bottom line.
The Boston Beer Company, Inc. produces and sells alcohol beverages primarily in the United States. The companys flagship beer is Samuel Adams Boston Lager.
