Two weeks ago, shares of Boston Beer (NYSE:SAM) plunged more than 6% following the release of the craft brewer's third-quarter earnings report.
That's not to say Boston Beer's results were bad. They actually beat expectations by posting a 30% increase in revenue to $216.4 million, which translated to 23.5% earnings growth to $1.89 per diluted share. Analysts, by contrast, were modeling earnings of just $1.84 per share.
But the market was understandably upset when Boston Beer simultaneously lowered both ends of its full-year 2013 earnings guidance by a nickel to between $5.05 and $5.35 per share, the midpoint of which sits well below expectations for 2013 earnings of $5.28.
However, Boston Beer stock has since largely recovered from its drop, and The Fool's Steve Symington knows why. Please watch the video below to get Steve's full take, then let us know whether you think Boston Beer is a buy today.