A number of other brokerages also recently commented on BREW. Zacks Investment Research downgraded shares of Craft Brew Alliance from a hold rating to a strong sell rating in a research note on Wednesday, August 14th. Maxim Group reaffirmed a buy rating and set a $21.00 price target on shares of Craft Brew Alliance in a research report on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. The company has a consensus rating of Hold and an average target price of $19.33.
Shares of NASDAQ:BREW opened at $13.59 on Thursday. The company has a market capitalization of $255.38 million, a price-to-earnings ratio of 64.71 and a beta of 0.45. Craft Brew Alliance has a 52 week low of $12.49 and a 52 week high of $19.65. The company has a quick ratio of 0.83, a current ratio of 1.32 and a debt-to-equity ratio of 0.54. The firm has a 50 day moving average of $15.12 and a 200 day moving average of $15.01.
Several hedge funds have recently modified their holdings of BREW. Walleye Trading LLC purchased a new position in shares of Craft Brew Alliance during the 2nd quarter worth approximately $440,000. Nuveen Asset Management LLC purchased a new position in shares of Craft Brew Alliance during the 2nd quarter worth approximately $2,092,000. Morgan Stanley boosted its position in shares of Craft Brew Alliance by 97.1% during the 2nd quarter. Morgan Stanley now owns 135,167 shares of the company’s stock worth $1,891,000 after purchasing an additional 66,590 shares during the period. Algert Global LLC purchased a new position in shares of Craft Brew Alliance during the 2nd quarter worth approximately $191,000. Finally, Vanguard Group Inc. boosted its position in shares of Craft Brew Alliance by 3.9% during the 2nd quarter. Vanguard Group Inc. now owns 656,016 shares of the company’s stock worth $9,177,000 after purchasing an additional 24,919 shares during the period. 35.19% of the stock is currently owned by institutional investors and hedge funds.
About Craft Brew Alliance
Craft Brew Alliance, Inc brews and sells craft beers and ciders in the United States and internationally. It operates through two segments, Beer Related Operations and Brewpubs Operations. It offers beers under the Kona, Omission, Appalachian Mountain, Cisco, Redhook, Widmer Brothers, and Wynwood brands; and ciders under the Square Mile brand name.
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