BRC (NYSE:BRCC) Stock Rating Cut to "Hold" at Wall Street Zen

Key Points

• Wall Street Zen downgraded BRC from “buy” to “hold.” Despite that cut and one “sell” rating, the broader analyst consensus remains “Moderate Buy,” with a $22.50 target price.
• BRC reported a quarterly loss of $0.28 per share, missing the $0.06-per-share consensus estimate, while revenue of $108.04 million topped estimates of $105.89 million.
• Company insiders sold a total of 46,300 shares worth about $474,943 over the past three months.

BRC (NYSE:BRCC - Get Free Report) was downgraded by Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued on Saturday, Wall Street Zen reports.

Several other brokerages also recently commented on BRCC. Craig Hallum began coverage on BRC in a research note on Monday, August 3rd. They set a "buy" rating and a $17.50 target price on the stock. DA Davidson increased their price objective on shares of BRC from $2.50 to $25.00 and gave the company a "buy" rating in a research report on Monday, August 31st. Finally, Weiss Ratings restated a "sell (e+)" rating on shares of BRC in a report on Monday. Three analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $22.50.

BRC Trading Down 0.6%

Shares of NYSE BRCC opened at $9.68 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.42 and a quick ratio of 0.80. The firm has a fifty day moving average of $9.75 and a 200 day moving average of $10.23. BRC has a one year low of $6.00 and a one year high of $18.55.

BRC (NYSE:BRCC - Get Free Report) last released its quarterly earnings results on Monday, November 2nd. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of $0.06 by ($0.34). The business had revenue of $108.04 million during the quarter, compared to analyst estimates of $105.89 million. BRC had a negative return on equity of 9.44% and a negative net margin of 1.53%.

Insider Transactions at BRC

In other news, insider Evan Hafer sold 12,000 shares of the firm's stock in a transaction on Tuesday, October 27th. The shares were sold at an average price of $11.37, for a total transaction of $136,440.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Stephen Kadenacy sold 10,500 shares of the business's stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $8.20, for a total transaction of $86,100.00. Following the completion of the transaction, the director owned 23,495 shares of the company's stock, valued at $192,659. This trade represents a 30.89% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 46,300 shares of company stock valued at $474,943 over the last three months. 54.87% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On BRC

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Zazove Associates LLC raised its stake in shares of BRC by 270.7% in the first quarter. Zazove Associates LLC now owns 2,000,000 shares of the company's stock worth $1,552,000 after purchasing an additional 1,460,546 shares during the last quarter. Kestra Advisory Services LLC boosted its holdings in BRC by 63.0% in the first quarter. Kestra Advisory Services LLC now owns 69,001 shares of the company's stock worth $54,000 after purchasing an additional 26,672 shares in the last quarter. Modera Wealth Management LLC bought a new position in BRC in the 1st quarter valued at $78,000. Renaissance Technologies LLC bought a new stake in shares of BRC in the 1st quarter valued at about $232,000. Finally, Bank of America Corp DE grew its holdings in shares of BRC by 9.2% during the first quarter. Bank of America Corp DE now owns 142,209 shares of the company's stock worth $110,000 after purchasing an additional 11,933 shares during the last quarter. Institutional investors own 16.29% of the company's stock.

BRC Company Profile

Black Rifle Coffee Company NYSE: BRCC is a veteran-founded coffee and lifestyle company focused on producing, marketing and selling premium coffee products. Its offerings include whole-bean and ground coffee, single-serve options, ready-to-drink beverages, tea, brewing equipment, apparel and other branded merchandise.

The company distributes its products through direct-to-consumer channels, including its online store and coffee subscription programs, as well as wholesale and retail partners.

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