Brokerages Set BRC Inc. (NYSE:BRCC) Price Target at $6.63

BRC Inc. (NYSE:BRCC) has been assigned an average recommendation of “Moderate Buy” from the six research firms that are currently covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $6.63.

A number of analysts have recently issued reports on the stock. Roth Capital lowered shares of BRC from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 9th. Roth Mkm lowered shares of BRC from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $8.00 to $4.00 in a report on Friday, August 9th. Telsey Advisory Group lowered their target price on BRC from $8.00 to $6.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. Finally, DA Davidson reiterated a “buy” rating and issued a $5.50 price target on shares of BRC in a research note on Wednesday, September 18th.

BRC Trading Down 2.7 %

Shares of BRCC stock opened at $3.24 on Tuesday. The company has a quick ratio of 0.59, a current ratio of 1.07 and a debt-to-equity ratio of 1.01. BRC has a fifty-two week low of $2.51 and a fifty-two week high of $7.14. The firm’s 50 day moving average price is $3.99 and its two-hundred day moving average price is $4.83. The stock has a market cap of $687.90 million, a price-to-earnings ratio of -18.00 and a beta of 1.15.

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

Insiders Place Their Bets

In related news, Director Evan Hafer sold 3,000,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $3.20, for a total transaction of $9,600,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Evan Hafer sold 3,000,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $3.20, for a total value of $9,600,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Thomas E. Davin sold 10,884 shares of BRC 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 transaction, the director now owns 15,851 shares in the company, valued at $60,392.31. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,010,884 shares of company stock worth $12,811,468. 73.80% of the stock is owned by corporate insiders.

Institutional Trading of BRC

Several large investors have recently added to or reduced their stakes in the business. Comerica Bank lifted its holdings in BRC by 316.4% in the 1st quarter. Comerica Bank now owns 6,054 shares of the company’s stock worth $26,000 after purchasing an additional 4,600 shares during the last quarter. nVerses Capital LLC acquired a new stake in shares of BRC in the second quarter worth $28,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in BRC in the 1st quarter valued at $45,000. Intrinsic Edge Capital Management LLC acquired a new position in BRC in the 4th quarter valued at $50,000. Finally, The Manufacturers Life Insurance Company raised its holdings in BRC by 32.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 20,464 shares of the company’s stock worth $125,000 after acquiring an additional 5,064 shares during the period. 16.29% of the stock is owned by 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.