Craft Brew Alliance (NASDAQ:BREW) Upgraded to “Hold” by Zacks Investment Research

Zacks Investment Research upgraded shares of Craft Brew Alliance (NASDAQ:BREW) from a strong sell rating to a hold rating in a research note issued to investors on Wednesday morning, Zacks.com reports.

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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. “

Several other brokerages have also issued reports on BREW. Maxim Group lowered their price target on shares of Craft Brew Alliance from $21.00 to $16.00 and set a buy rating on the stock in a report on Friday, September 6th. ValuEngine raised shares of Craft Brew Alliance from a sell rating to a hold rating in a report on Wednesday, October 2nd. TheStreet lowered shares of Craft Brew Alliance from a c- rating to a d+ rating in a report on Thursday, September 19th. Cowen lowered their target price on shares of Craft Brew Alliance from $23.00 to $14.00 in a report on Thursday, September 5th. Finally, Citigroup set a $10.00 target price on shares of Craft Brew Alliance and gave the stock a hold rating in a report on Tuesday, September 17th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company’s stock. The stock has an average rating of Hold and an average price target of $23.29.

Shares of Craft Brew Alliance stock traded down $0.12 on Wednesday, reaching $7.29. The stock had a trading volume of 52,600 shares, compared to its average volume of 111,322. The stock has a market cap of $145.79 million, a P/E ratio of 34.71 and a beta of 0.51. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.83 and a current ratio of 1.32. The business’s 50-day moving average price is $8.06 and its two-hundred day moving average price is $12.28. Craft Brew Alliance has a fifty-two week low of $7.11 and a fifty-two week high of $17.40.

Craft Brew Alliance (NASDAQ:BREW) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by ($0.03). The business had revenue of $60.60 million during the quarter, compared to the consensus estimate of $65.36 million. Craft Brew Alliance had a negative net margin of 2.42% and a negative return on equity of 1.13%. The company’s quarterly revenue was down 1.9% compared to the same quarter last year. During the same period last year, the firm earned $0.23 EPS. As a group, equities analysts forecast that Craft Brew Alliance will post -0.28 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Bank of Montreal Can grew its holdings in shares of Craft Brew Alliance by 57.5% in the 2nd quarter. Bank of Montreal Can now owns 2,092 shares of the company’s stock worth $29,000 after purchasing an additional 764 shares during the last quarter. Parametric Portfolio Associates LLC grew its holdings in shares of Craft Brew Alliance by 5.7% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 16,910 shares of the company’s stock worth $237,000 after purchasing an additional 910 shares during the last quarter. California Public Employees Retirement System grew its holdings in shares of Craft Brew Alliance by 3.4% in the 3rd quarter. California Public Employees Retirement System now owns 43,626 shares of the company’s stock worth $357,000 after purchasing an additional 1,445 shares during the last quarter. Rhumbline Advisers grew its holdings in shares of Craft Brew Alliance by 8.6% in the 3rd quarter. Rhumbline Advisers now owns 18,785 shares of the company’s stock worth $154,000 after purchasing an additional 1,482 shares during the last quarter. Finally, Aperio Group LLC bought a new stake in shares of Craft Brew Alliance in the 2nd quarter worth about $27,000. 34.97% of the stock is currently owned by institutional investors and hedge funds.

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.

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