BRC (NYSE:BRCC) Stock Rating Reaffirmed by DA Davidson

BRC (NYSE:BRCC)‘s stock had its “buy” rating reaffirmed by analysts at DA Davidson in a report issued on Wednesday, Benzinga reports. They presently have a $5.50 price target on the stock. DA Davidson’s price target would indicate a potential upside of 54.06% from the company’s previous close.

A number of other analysts have also weighed in on the company. Roth Capital lowered BRC from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 9th. Telsey Advisory Group reduced their price target on BRC from $8.00 to $6.00 and set an “outperform” rating on the stock in a research report on Friday, August 9th. Roth Mkm downgraded BRC from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $8.00 to $4.00 in a research report on Friday, August 9th. Finally, Tigress Financial reaffirmed a “buy” rating and issued a $11.00 target price on shares of BRC in a report on Wednesday, May 22nd. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, BRC currently has a consensus rating of “Moderate Buy” and an average price target of $6.63.

BRC Stock Performance

BRCC stock opened at $3.57 on Wednesday. The business’s fifty day moving average price is $4.55 and its 200 day moving average price is $4.92. BRC has a 12-month low of $2.51 and a 12-month high of $7.14. The company has a current ratio of 1.07, a quick ratio of 0.59 and a debt-to-equity ratio of 1.01.

BRC (NYSE:BRCC) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.01) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.01). The business had revenue of $89.02 million for the quarter, compared to analysts’ expectations of $101.54 million. BRC had a negative net margin of 1.88% and a positive return on equity of 17.53%. During the same quarter in the prior year, the company earned ($0.03) earnings per share. On average, equities research analysts expect that BRC will post -0.02 EPS for the current year.

Insiders Place Their Bets

In other news, Director Evan Hafer sold 3,000,000 shares of the stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $3.20, for a total value of $9,600,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director Thomas E. Davin sold 10,884 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $3.81, for a total value of $41,468.04. Following the completion of the sale, the director now directly owns 15,851 shares of the company’s stock, valued at $60,392.31. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Evan Hafer sold 3,000,000 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $3.20, for a total value of $9,600,000.00. The disclosure for this sale can be found here. Insiders sold 4,010,884 shares of company stock valued at $12,811,468 in the last ninety days. Insiders own 73.80% of the company’s stock.

Institutional Trading of BRC

Several institutional investors and hedge funds have recently made changes to their positions in BRCC. Wasatch Advisors LP raised its position in BRC by 334.0% in the 1st quarter. Wasatch Advisors LP now owns 1,459,418 shares of the company’s stock valued at $6,246,000 after purchasing an additional 1,123,157 shares during the last quarter. Blair William & Co. IL raised its holdings in shares of BRC by 370.2% in the second quarter. Blair William & Co. IL now owns 802,710 shares of the company’s stock valued at $4,921,000 after buying an additional 632,000 shares during the last quarter. Maso Capital Partners Ltd acquired a new stake in shares of BRC during the first quarter worth about $2,140,000. Marshall Wace LLP grew its holdings in shares of BRC by 76.4% during the second quarter. Marshall Wace LLP now owns 812,373 shares of the company’s stock worth $4,980,000 after buying an additional 351,757 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in BRC by 131.1% in the 2nd quarter. Renaissance Technologies LLC now owns 419,300 shares of the company’s stock valued at $2,570,000 after acquiring an additional 237,869 shares during the period. 16.29% of the stock is owned by hedge funds and other institutional investors.

BRC Company Profile

BRC Inc, through its subsidiaries, purchases, roasts, and sells coffee, coffee accessories, and branded apparel in the United States. The company also produces media content, as well as sells coffee brewing equipment, and outdoor and lifestyle gear. It supports active military, veterans, and first responders.