Craft Brew Alliance, Inc. (BREW) Upgraded by Zacks Investment Research to “Strong-Buy”

Craft Brew Alliance, Inc. (NASDAQ:BREW) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Wednesday. The firm presently has a $21.00 target price on the stock. Zacks Investment Research‘s target price indicates a potential upside of 11.11% from the stock’s current price.

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. “

Other research analysts also recently issued reports about the company. BidaskClub upgraded Craft Brew Alliance from a “hold” rating to a “buy” rating in a research note on Wednesday, August 9th. Cowen and Company restated an “outperform” rating and issued a $20.00 price target (up from $19.00) on shares of Craft Brew Alliance in a research note on Wednesday, August 9th. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $20.33.

Shares of Craft Brew Alliance (NASDAQ:BREW) traded up 2.16% during midday trading on Wednesday, reaching $18.90. 151,234 shares of the company’s stock traded hands. The firm has a market capitalization of $364.64 million, a PE ratio of 700.00 and a beta of 0.47. The stock’s 50-day moving average price is $17.73 and its 200 day moving average price is $15.69. Craft Brew Alliance has a one year low of $12.00 and a one year high of $22.40.

Craft Brew Alliance (NASDAQ:BREW) last posted its quarterly earnings results on Wednesday, August 2nd. The company reported $0.09 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.11 by $0.02. Craft Brew Alliance had a return on equity of 0.80% and a net margin of 0.27%. The business had revenue of $60.55 million during the quarter, compared to the consensus estimate of $58.54 million. During the same quarter in the previous year, the company earned $0.12 earnings per share. The company’s revenue for the quarter was down 2.8% compared to the same quarter last year. On average, equities research analysts expect that Craft Brew Alliance will post $0.14 earnings per share for the current fiscal year.

In other news, CEO Andrew J. Thomas sold 4,000 shares of the stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $18.14, for a total transaction of $72,560.00. Following the completion of the transaction, the chief executive officer now directly owns 7,834 shares in the company, valued at approximately $142,108.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.70% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of BREW. American International Group Inc. increased its position in Craft Brew Alliance by 7.0% in the first quarter. American International Group Inc. now owns 7,778 shares of the company’s stock worth $104,000 after buying an additional 510 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in Craft Brew Alliance by 15.3% in the second quarter. The Manufacturers Life Insurance Company now owns 12,325 shares of the company’s stock worth $207,000 after buying an additional 1,638 shares in the last quarter. Perkins Capital Management Inc. increased its position in Craft Brew Alliance by 0.8% in the second quarter. Perkins Capital Management Inc. now owns 12,550 shares of the company’s stock worth $211,000 after buying an additional 100 shares in the last quarter. Parametric Portfolio Associates LLC increased its position in Craft Brew Alliance by 2.9% in the first quarter. Parametric Portfolio Associates LLC now owns 16,906 shares of the company’s stock worth $226,000 after buying an additional 476 shares in the last quarter. Finally, AQR Capital Management LLC purchased a new position in Craft Brew Alliance during the fourth quarter worth approximately $245,000. Hedge funds and other institutional investors own 32.49% of the company’s stock.

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.

Get a free copy of the Zacks research report on Craft Brew Alliance (BREW)

For more information about research offerings from Zacks Investment Research, visit Zacks.com