Zacks Investment Research Downgrades Craft Brew Alliance, Inc. (BREW) to Hold

Craft Brew Alliance, Inc. (NASDAQ:BREW) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Monday.

According to Zacks, “Craft Brew Alliance Inc. is engaged in the business of brewing, marketing and selling of craft beers in the United States. The Company operates in two segments: Beer Related operations and Pubs and Other. Craft Brew owns and operates production breweries with adjacent restaurants or pubs in Portland, Oregon, Woodinville, Washington and Portsmouth, New Hampshire and in Kona, Hawaii. It offers its beer products under the Widmer Brothers, Redhook and Kona Brewing brand names. Craft Brew Alliance Inc., formerly known as Craft Brewers Alliance, Inc., is headquartered in Portland, Oregon. “

Craft Brew Alliance (NASDAQ BREW) opened at 17.50 on Monday. The company has a market cap of $337.09 million, a P/E ratio of 307.02 and a beta of 0.47. Craft Brew Alliance has a 1-year low of $10.89 and a 1-year high of $22.40. The stock has a 50 day moving average price of $17.06 and a 200 day moving average price of $15.35.

Craft Brew Alliance (NASDAQ:BREW) last posted its quarterly earnings results on Wednesday, May 3rd. The company reported ($0.09) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.18) by $0.09. The business had revenue of $44.30 million for the quarter. Craft Brew Alliance had a return on equity of 1.25% and a net margin of 0.53%. On average, equities research analysts anticipate that Craft Brew Alliance will post $0.13 EPS for the current fiscal year.

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Several institutional investors have recently modified their holdings of the stock. Kennedy Capital Management Inc. boosted its position in shares of Craft Brew Alliance by 181.4% in the first quarter. Kennedy Capital Management Inc. now owns 279,001 shares of the company’s stock valued at $3,725,000 after buying an additional 179,850 shares during the period. Balter Liquid Alternatives LLC bought a new position in shares of Craft Brew Alliance during the first quarter valued at about $2,063,000. Cannell Capital LLC bought a new position in shares of Craft Brew Alliance during the first quarter valued at about $1,906,000. Dimensional Fund Advisors LP boosted its position in shares of Craft Brew Alliance by 4.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,225,242 shares of the company’s stock valued at $20,707,000 after buying an additional 50,895 shares during the period. Finally, Russell Investments Group Ltd. bought a new position in shares of Craft Brew Alliance during the fourth quarter valued at about $554,000. 31.80% of the stock is owned by institutional investors and hedge funds.

About Craft Brew Alliance

Craft Brew Alliance, Inc is a craft brewing company that is engaged in brewing, branding and bringing to market American craft beers. The Company operates through two segments: Beer Related operations, which include the brewing operations and related domestic and international beer and cider sales of its Kona, Widmer Brothers, Redhook and Omission beer brands, and Square Mile cider brand, and Pubs operations, which include its approximately five pubs, over four of which are located adjacent to its Beer Related operations, as well as other merchandise sales, and sales of its beers directly to customers.

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