The stock of The Boston Beer Company, Inc. (NYSE:SAM) is now priced at $664.13 and the shares are 9.83 points up or 1.5% higher compared to its previous closing price of $654.3. The stock had 89222 contracts set over the past session. SAM shares’ daily volume is compared to its average trading volume at 164861 shares. However, it has a float of 8.74 million and although its performance was 5.04% over the week, it’s one to watch. Analysts have given the SAM stock a yearly average price target of $518.39 per share. It means the stock’s downside potential is -21.94% with the SAM share price recently placing at $648.785 to $658.7. However, some brokerage firms have priced the stock below the average, including one that has called $280.
The shorts are running away from the The Boston Beer Company, Inc. stock, with the latest data on short interest released on June 30, 2020, showing that short interest numbers in the SAM shares have declined. Short interest in the stock represents just 13.01% of its float, but the volume has dropped by 0.
In the last trading session, The Boston Beer Company, Inc. (NYSE:SAM) raised by $21.17 over the week and gained $126.33 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $666.2. The stock recorded its established 52-week high on 07/20/20.
Since 03/16/20, the stock has traded to a low of $290.02 at 128.99%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 0.86. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, The Boston Beer Company, Inc.’s two-week RSI is 74.42. This suggests that the stock is oversold at the moment and that SAM shares’ price movement remains not stable. The stochastic readings are equally revealing at 91.94% meaning the SAM share price is currently in oversold territory.
The technical chart shows that the SAM stock will likely settle at between $659.07 and $663.84 per share. However, if the stock dips below $649.16, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $644.01.
Currently, the stock is trading in the green of MACD, with a reading of 22.55. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Maxim Group assigned SAM a rating of Outperform in their intiating review released on July 15. Guggenheim analysts see the stock as a Buy, but they also raised the share’s target price from $549 to $609 in a flash note released to investors on June 10. Credit Suisse seeing the stock struggling downgraded it from Outperform to Neutral on May 28 placing it at $505.
The average rating for the SAM equity is 2.5 and is currently gathering a bullish momentum. Of 13 analysts tracking The Boston Beer Company, Inc. polled by Reuters, 5 rated SAM as a hold. The remaining 8 analysts were split evenly. However, the split wasn’t equal as a majority (7) rated it as a buy or strong buy. 1 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the SAM stock price is 48.29X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands at 75.8 above the group’s average of 43. The Boston Beer Company, Inc. has its P/E ratio at 10.5, which means that the stock is currently trading at a premium relative to the 2.4 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for The Boston Beer Company, Inc. (NYSE:SAM) will decrease by about -99.87%, which will see them reach $429.58 million. The company’s full-year revenues are, however, expected to increase by about 27.2%, up from $1250 million to $1590 million. SAM’s expected adjusted earnings should surge almost 2.54% to end up at $2.42 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -5.51% to record $8.92/share.