Craft Brew Alliance (NASDAQ:BREW) Downgraded by Zacks Investment Research to Hold

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

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. “

A number of other brokerages have also recently issued reports on BREW. Cowen cut Craft Brew Alliance from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 27th. BidaskClub upgraded Craft Brew Alliance from a “hold” rating to a “buy” rating in a research note on Wednesday. TheStreet upgraded Craft Brew Alliance from a “d+” rating to a “c” rating in a research note on Tuesday, December 10th. Finally, MKM Partners boosted their price objective on Craft Brew Alliance from $16.00 to $16.50 and gave the company a “buy” rating in a research note on Wednesday, March 18th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Craft Brew Alliance currently has an average rating of “Hold” and a consensus target price of $13.58.

Shares of NASDAQ:BREW traded up $0.29 during midday trading on Thursday, reaching $14.81. The company had a trading volume of 478,700 shares, compared to its average volume of 290,631. The company’s 50 day moving average price is $15.35 and its 200 day moving average price is $13.47. The company has a current ratio of 1.04, a quick ratio of 0.56 and a debt-to-equity ratio of 0.45. The stock has a market cap of $269.56 million, a P/E ratio of -22.10 and a beta of 0.90. Craft Brew Alliance has a 52-week low of $7.11 and a 52-week high of $17.19.

Craft Brew Alliance (NASDAQ:BREW) last issued its quarterly earnings results on Wednesday, March 11th. The company reported ($0.36) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.06) by ($0.30). Craft Brew Alliance had a negative return on equity of 8.33% and a negative net margin of 6.31%. The company had revenue of $38.26 million during the quarter. Research analysts forecast that Craft Brew Alliance will post 0.13 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Citigroup Inc. increased its position in shares of Craft Brew Alliance by 66.7% during the fourth quarter. Citigroup Inc. now owns 2,877 shares of the company’s stock valued at $47,000 after buying an additional 1,151 shares during the period. California Public Employees Retirement System increased its position in shares of Craft Brew Alliance by 3.4% during the third quarter. California Public Employees Retirement System now owns 43,626 shares of the company’s stock valued at $357,000 after buying an additional 1,445 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Craft Brew Alliance by 5.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 28,267 shares of the company’s stock valued at $467,000 after buying an additional 1,546 shares during the period. UBS Group AG increased its position in shares of Craft Brew Alliance by 63.9% during the fourth quarter. UBS Group AG now owns 15,155 shares of the company’s stock valued at $250,000 after buying an additional 5,911 shares during the period. Finally, State Street Corp increased its position in shares of Craft Brew Alliance by 2.5% during the third quarter. State Street Corp now owns 241,662 shares of the company’s stock valued at $1,979,000 after buying an additional 6,002 shares during the period. Hedge funds and other institutional investors own 49.20% of the company’s stock.

Craft Brew Alliance Company Profile

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.

Featured Story: Purposes and Functions of the Federal Reserve

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

Analyst Recommendations for Craft Brew Alliance (NASDAQ:BREW)

Receive News & Ratings for Craft Brew Alliance Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Craft Brew Alliance and related companies with MarketBeat.com's FREE daily email newsletter.