Zacks Investment Research Upgrades Craft Brew Alliance Inc (BREW) to Hold

Craft Brew Alliance Inc (NASDAQ:BREW) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Thursday, May 4th.

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. “

Shares of Craft Brew Alliance (NASDAQ:BREW) traded up 0.95% on Thursday, hitting $15.95. The stock had a trading volume of 82,577 shares. Craft Brew Alliance has a one year low of $7.67 and a one year high of $22.40. The company has a market capitalization of $307.23 million, a P/E ratio of 279.82 and a beta of 0.47. The firm has a 50 day moving average price of $14.25 and a 200 day moving average price of $15.04.

Craft Brew Alliance (NASDAQ:BREW) last announced its quarterly earnings data on Wednesday, May 3rd. The company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.18) by $0.09. Craft Brew Alliance had a net margin of 0.42% and a return on equity of 0.73%. The firm had revenue of $44.30 million for the quarter. On average, equities research analysts predict that Craft Brew Alliance will post $0.13 earnings per share for the current fiscal year.

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In related news, VP John William Glick acquired 3,500 shares of the company’s stock in a transaction dated Tuesday, March 21st. The shares were purchased at an average price of $13.57 per share, for a total transaction of $47,495.00. Following the completion of the acquisition, the vice president now owns 10,157 shares of the company’s stock, valued at $137,830.49. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 3.40% of the stock is currently owned by corporate insiders.

Several institutional investors have recently made changes to their positions in BREW. Goldman Sachs Group Inc. bought a new position in shares of Craft Brew Alliance during the first quarter valued at $297,000. Schwab Charles Investment Management Inc. increased its stake in Craft Brew Alliance by 54.4% in the first quarter. Schwab Charles Investment Management Inc. now owns 27,800 shares of the company’s stock valued at $372,000 after buying an additional 9,800 shares during the last quarter. Cannell Capital LLC acquired a new stake in Craft Brew Alliance during the first quarter valued at approximately $1,906,000. Balter Liquid Alternatives LLC acquired a new stake in Craft Brew Alliance during the first quarter valued at approximately $2,063,000. Finally, Dimensional Fund Advisors LP increased its stake in Craft Brew Alliance by 3.3% in the first quarter. Dimensional Fund Advisors LP now owns 1,265,394 shares of the company’s stock valued at $16,893,000 after buying an additional 40,152 shares during the last quarter. Hedge funds and other institutional investors own 26.92% of the company’s stock.

Craft Brew Alliance Company Profile

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.

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