BRC (NYSE:BRCC) Rating Reiterated by DA Davidson

BRC (NYSE:BRCC)‘s stock had its “buy” rating reiterated by analysts at DA Davidson in a research report issued on Wednesday, Benzinga reports. They presently have a $5.50 price target on the stock. DA Davidson’s price target points to a potential upside of 48.65% from the company’s previous close.

BRCC has been the subject of several other reports. Roth Mkm cut BRC from a “buy” rating to a “neutral” rating and reduced their price target for the company from $8.00 to $4.00 in a research report on Friday, August 9th. Tigress Financial restated a “buy” rating and set a $11.00 target price on shares of BRC in a research report on Wednesday, May 22nd. Telsey Advisory Group reduced their target price on BRC from $8.00 to $6.00 and set an “outperform” rating for the company in a research report on Friday, August 9th. Finally, Roth Capital cut BRC from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 9th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, BRC presently has a consensus rating of “Moderate Buy” and a consensus target price of $6.63.

BRC Stock Performance

Shares of BRCC traded up $0.03 during mid-day trading on Wednesday, hitting $3.70. The stock had a trading volume of 620,510 shares, compared to its average volume of 948,660. The firm has a market cap of $786.32 million, a P/E ratio of -20.44 and a beta of 1.18. The business has a fifty day moving average price of $4.62 and a 200-day moving average price of $4.94. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.07 and a quick ratio of 0.59. BRC has a 52 week low of $2.51 and a 52 week high of $7.14.

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

Insider Transactions at BRC

In other news, Director Evan Hafer sold 3,000,000 shares of the company’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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Thomas E. Davin sold 10,884 shares of the business’s stock in a transaction dated 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 sale, the director now owns 15,851 shares of the company’s stock, valued at approximately $60,392.31. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Evan Hafer sold 3,000,000 shares of the business’s stock in a transaction dated Wednesday, September 11th. The shares were 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. In the last three months, insiders sold 4,010,884 shares of company stock worth $12,811,468. 73.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On BRC

Hedge funds and other institutional investors have recently modified their holdings of the stock. Blair William & Co. IL bought a new stake in shares of BRC in the 1st quarter valued at about $731,000. Wasatch Advisors LP bought a new stake in shares of BRC in the 4th quarter valued at about $1,221,000. Comerica Bank lifted its stake in shares of BRC by 316.4% in 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. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of BRC in the 1st quarter valued at about $45,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of BRC in the 4th quarter valued at about $72,000. Institutional investors own 16.29% of the company’s stock.

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.