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Shares of Boston Beer Rise Above Previous 52-Week High

Published on Fri, 02/15/2013 - 15:23
By Mallory Stone

Shares of Boston Beer (NYSE:SAM) traded at a new 52-week high today of $147.59. So far today approximately 66,000 shares have been exchanged, as compared to an average 30-day volume of 77,000 shares.

Based on a current price of $146.16, Boston Beer is currently 11.9% above its average consensus analyst price target of $128.83. The stock should find initial support at its 50-day moving average (MA) of $135.63 and further support at its 200-day MA of $116.23.

In the past 52 weeks, shares of Boston Beer have traded between a low of $94.24 and a high of $147.59 and are now at $146.16, which is 55% above that low price. The 200-day and 50-day moving averages have moved 0.75% higher and 1.80% higher over the past week, respectively.

The Boston Beer Company, Inc. produces a variety of craft-brewed beers and cider products at various contract breweries and Company-owned breweries. The Company sells its products under brand names such as Boston Beer Company, Oregon Beer and Brewing Company, Samuel Adams, and HardCore. Boston Beer sells its products to a network of wholesale distributors.

By Mallory Stone
mstone@fnno.com