Auriga Reiterates a 'Hold' on Boston Beer Company (SAM); Raising Numbers, But Performance Priced In
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Price: $185.77 +0.50%
Rating Summary:
6 Buy, 20 Hold, 4 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
6 Buy, 20 Hold, 4 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Auriga reiterates a 'Hold' on Boston Beer Company (NYSE: SAM) price target raised from $100 to $103.
Analyst, Gary Albanese, said, "Boston Beer reported results that exceeded our results, as the company benefitted from solid depletion growth in the quarter of 10% while margins were above expectations partially due to lower cost raw materials left over from last year and lower processing costs. We believe the company continues to demonstrate solid growth in its seasonal offerings as well as Twisted Tea which helped to offset its mature Boston Lager brand. With an EPS of $0.56, the company topped our estimate by $0.10 and consensus by $0.16. While the results were well above expectations, the company kept its FY12 guidance unchanged, likely due to cost pressures from fuel, packaging and raw materials costs. Nevertheless, we increased our estimate for FY12 by $0.05 to $4.16 and for FY13 by $0.14 to $4.67 to reflect, among other things, the Q1 earnings as well as our expectations for solid depletions partially due to the expansion of Twisted Tea into remaining US markets...We nevertheless reiterate our Hold recommendation as shares are above our target price after recent appreciation."
For an analyst ratings summary and ratings history on Boston Beer Company click here. For more ratings news on Boston Beer Company click here.
Shares of Boston Beer Company closed at $109.01 yesterday.
Analyst, Gary Albanese, said, "Boston Beer reported results that exceeded our results, as the company benefitted from solid depletion growth in the quarter of 10% while margins were above expectations partially due to lower cost raw materials left over from last year and lower processing costs. We believe the company continues to demonstrate solid growth in its seasonal offerings as well as Twisted Tea which helped to offset its mature Boston Lager brand. With an EPS of $0.56, the company topped our estimate by $0.10 and consensus by $0.16. While the results were well above expectations, the company kept its FY12 guidance unchanged, likely due to cost pressures from fuel, packaging and raw materials costs. Nevertheless, we increased our estimate for FY12 by $0.05 to $4.16 and for FY13 by $0.14 to $4.67 to reflect, among other things, the Q1 earnings as well as our expectations for solid depletions partially due to the expansion of Twisted Tea into remaining US markets...We nevertheless reiterate our Hold recommendation as shares are above our target price after recent appreciation."
For an analyst ratings summary and ratings history on Boston Beer Company click here. For more ratings news on Boston Beer Company click here.
Shares of Boston Beer Company closed at $109.01 yesterday.
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