BRC’s (BRCC) Outperform Rating Reaffirmed at Telsey Advisory Group

Telsey Advisory Group restated their outperform rating on shares of BRC (NYSE:BRCC) in a research note released on Thursday morning, Benzinga reports. They currently have a $6.00 price target on the stock.

Several other research firms have also recently commented on BRCC. DA Davidson reiterated a “buy” rating and set a $5.50 target price on shares of BRC in a research note on Wednesday, September 18th. Roth Mkm lowered BRC from a “buy” rating to a “neutral” rating and cut their target price for the company from $8.00 to $4.00 in a research note on Friday, August 9th. Finally, Roth Capital downgraded shares of BRC from a “strong-buy” rating to a “hold” rating in a report on Friday, August 9th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, BRC has an average rating of “Moderate Buy” and an average price target of $6.63.

BRC Stock Down 0.9 %

Shares of BRCC stock opened at $3.13 on Thursday. The company has a market capitalization of $665.19 million, a price-to-earnings ratio of -26.08 and a beta of 1.15. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.59 and a current ratio of 1.07. The stock’s 50 day simple moving average is $3.59 and its 200 day simple moving average is $4.69. BRC has a twelve month low of $2.60 and a twelve month high of $7.14.

BRC (NYSE:BRCC) last posted its earnings results on Wednesday, August 7th. The company reported ($0.01) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.01). BRC had a negative net margin of 1.88% and a positive return on equity of 17.53%. The business had revenue of $89.02 million for the quarter, compared to analyst estimates of $101.54 million. During the same period last year, the business posted ($0.03) EPS. As a group, research analysts predict that BRC will post -0.02 EPS for the current year.

Insider Buying and Selling

In other BRC news, Director Thomas E. Davin sold 10,884 shares of BRC stock in a transaction on Monday, September 9th. The stock was sold at an average price of $3.81, for a total value of $41,468.04. Following the completion of the transaction, the director now owns 15,851 shares in the company, valued at approximately $60,392.31. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Thomas E. Davin sold 10,884 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $3.81, for a total transaction of $41,468.04. Following the transaction, the director now directly owns 15,851 shares in the company, valued at approximately $60,392.31. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Evan Hafer sold 3,000,000 shares of the company’s stock in a transaction on 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 have sold a total of 4,010,884 shares of company stock worth $12,811,468 in the last three months. Insiders own 73.80% of the company’s stock.

Hedge Funds Weigh In On BRC

Several large investors have recently bought and sold shares of the business. Comerica Bank raised its position in shares of BRC by 316.4% during the 1st quarter. Comerica Bank now owns 6,054 shares of the company’s stock valued at $26,000 after acquiring an additional 4,600 shares during the last quarter. nVerses Capital LLC bought a new stake in BRC in the second quarter valued at about $28,000. The Manufacturers Life Insurance Company lifted its stake in BRC by 32.9% in the second quarter. The Manufacturers Life Insurance Company now owns 20,464 shares of the company’s stock valued at $125,000 after buying an additional 5,064 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new position in BRC during the first quarter worth about $45,000. Finally, Fortis Group Advisors LLC boosted its holdings in BRC by 25.0% during the second quarter. Fortis Group Advisors LLC now owns 56,925 shares of the company’s stock worth $349,000 after buying an additional 11,388 shares during the last quarter. 16.29% of the stock is currently owned by institutional investors and hedge funds.

About BRC

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.