DA Davidson Has Lowered Expectations for BRC (NYSE:BRCC) Stock Price

BRC (NYSE:BRCC) had its price objective decreased by equities research analysts at DA Davidson from $5.00 to $3.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. DA Davidson’s target price indicates a potential upside of 41.84% from the stock’s previous close.

BRCC has been the subject of several other research reports. Roth Mkm reissued a “neutral” rating and issued a $2.50 price objective (down previously from $3.50) on shares of BRC in a research note on Wednesday. Telsey Advisory Group reissued an “outperform” rating and set a $6.00 target price on shares of BRC in a research note on Tuesday. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $5.63.

BRC Stock Performance

Shares of NYSE:BRCC opened at $2.12 on Wednesday. The company has a quick ratio of 0.58, a current ratio of 1.14 and a debt-to-equity ratio of 0.92. The firm has a market cap of $449.95 million, a PE ratio of -26.44 and a beta of 1.09. The company’s 50 day moving average price is $2.78 and its two-hundred day moving average price is $3.16. BRC has a 12-month low of $2.01 and a 12-month high of $7.14.

Institutional Investors Weigh In On BRC

Large investors have recently bought and sold shares of the stock. Jones Financial Companies Lllp lifted its holdings in shares of BRC by 106.0% in the fourth quarter. Jones Financial Companies Lllp now owns 9,011 shares of the company’s stock valued at $29,000 after purchasing an additional 4,637 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of BRC in the fourth quarter valued at approximately $30,000. Smith Thornton Advisors LLC bought a new position in shares of BRC in the third quarter valued at approximately $45,000. Ameriprise Financial Inc. bought a new position in shares of BRC in the fourth quarter valued at approximately $47,000. Finally, ProShare Advisors LLC bought a new position in shares of BRC in the fourth quarter valued at approximately $47,000. 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.