Dutch Bros (NYSE:BROS) Given New $59.00 Price Target at TD Cowen

Key Points

• TD Cowen cut Dutch Bros’ price target from $73 to $59 while maintaining a “buy” rating, implying roughly 36% upside from the prior close.
• Analyst sentiment remains broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $76.45.
• Dutch Bros reported a quarterly earnings beat, with EPS of $0.33 versus $0.29 expected and revenue of $550.85 million, up 32.5% year over year.

Dutch Bros (NYSE:BROS - Get Free Report) had its target price cut by equities researchers at TD Cowen from $73.00 to $59.00 in a research report issued on Friday, Benzinga reports. The firm presently has a "buy" rating on the stock. TD Cowen's price objective would suggest a potential upside of 36.00% from the stock's previous close.

A number of other research analysts have also commented on BROS. Telsey Advisory Group upped their price target on shares of Dutch Bros from $66.00 to $74.00 and gave the company an "outperform" rating in a research note on Friday, July 31st. Robert W. Baird upgraded shares of Dutch Bros to a "strong-buy" rating in a research report on Monday, August 24th. DA Davidson reduced their price objective on Dutch Bros from $90.00 to $85.00 and set a "buy" rating for the company in a report on Thursday, August 6th. Citigroup reaffirmed a "buy" rating on shares of Dutch Bros in a research report on Thursday, August 6th. Finally, Royal Bank Of Canada lowered their target price on Dutch Bros from $75.00 to $70.00 and set an "outperform" rating on the stock in a research note on Thursday, August 6th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $76.45.

Dutch Bros Stock Down 3.5%

BROS opened at $43.38 on Friday. Dutch Bros has a 1-year low of $43.29 and a 1-year high of $74.02. The stock's fifty day simple moving average is $57.21 and its 200 day simple moving average is $56.33. The company has a current ratio of 1.35, a quick ratio of 1.19 and a debt-to-equity ratio of 0.20. The stock has a market cap of $7.58 billion, a PE ratio of 60.26, a price-to-earnings-growth ratio of 1.60 and a beta of 2.28.

Dutch Bros (NYSE:BROS - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.04. Dutch Bros had a return on equity of 10.01% and a net margin of 4.91%.The business had revenue of $550.85 million during the quarter, compared to the consensus estimate of $525.38 million. During the same quarter last year, the firm posted $0.26 EPS. The company's quarterly revenue was up 32.5% on a year-over-year basis. As a group, research analysts expect that Dutch Bros will post 0.87 earnings per share for the current year.

Insider Buying and Selling

In other Dutch Bros news, Director Todd Penegor purchased 2,000 shares of the stock in a transaction that occurred on Thursday, August 13th. The shares were acquired at an average cost of $51.56 per share, with a total value of $103,120.00. Following the completion of the transaction, the director owned 7,358 shares in the company, valued at $379,378.48. The trade was a 37.33% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 38.90% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in BROS. Osterweis Capital Management Inc. acquired a new stake in shares of Dutch Bros in the second quarter valued at approximately $27,000. Ancora Advisors LLC bought a new position in Dutch Bros during the 2nd quarter worth $29,000. Rakuten Securities Inc. increased its stake in Dutch Bros by 557.4% during the 2nd quarter. Rakuten Securities Inc. now owns 447 shares of the company's stock worth $31,000 after acquiring an additional 379 shares during the period. Ankerstar Wealth LLC acquired a new position in Dutch Bros in the 4th quarter valued at $31,000. Finally, Quarry LP raised its holdings in Dutch Bros by 83.5% in the 4th quarter. Quarry LP now owns 600 shares of the company's stock valued at $37,000 after acquiring an additional 273 shares in the last quarter. Institutional investors and hedge funds own 85.54% of the company's stock.

Dutch Bros Company Profile

Dutch Bros Inc is a drive-thru beverage company that operates and franchises coffee shops across the United States. Founded in 1992 by brothers Dane and Travis Boersma in Grants Pass, Oregon, the company has expanded from a single coffee cart into a national chain with locations in more than 20 states.

Dutch Bros' menu includes specialty espresso-based coffees, cold brew, teas, Dutch Bros Blue Rebel energy drinks, smoothies, lemonades, sodas and other flavored beverages. Its shops emphasize drive-thru convenience, customizable drinks and customer-focused service, with some locations also offering walk-up windows or limited indoor seating.

The company combines company-operated shops with franchised locations, although its growth strategy has increasingly emphasized company-operated stores.

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