Robert W. Baird Forecasts Strong Price Appreciation for Black Rock Coffee Bar (NASDAQ:BRCB) Stock

Key Points

• Robert W. Baird raised its BRCB price target from $8 to $10 but kept a Neutral rating; the new target implies 5.39% downside from the prior close.
• Analyst sentiment is mixed: MarketBeat reports an average Hold rating and a $10.50 average price target, with two Buy, four Hold, and two Sell ratings.
• Black Rock Coffee Bar returned to profitability and grew Q3 revenue year over year, but its $0.05 EPS missed the $0.08 consensus estimate; revenue also fell short of forecasts.

Black Rock Coffee Bar (NASDAQ:BRCB - Get Free Report) had its price target boosted by investment analysts at Robert W. Baird from $8.00 to $10.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has a "neutral" rating on the stock. Robert W. Baird's price target suggests a potential downside of 5.39% from the stock's previous close.

Other research analysts have also issued research reports about the company. Zacks Research lowered Black Rock Coffee Bar from a "hold" rating to a "strong sell" rating in a research report on Thursday, October 15th. DA Davidson dropped their price target on Black Rock Coffee Bar from $15.00 to $10.00 and set a "buy" rating on the stock in a research report on Wednesday, August 12th. Stifel Nicolaus initiated coverage on Black Rock Coffee Bar in a research report on Monday. They set a "hold" rating and a $12.00 price target on the stock. Raymond James Financial set a $13.00 price objective on Black Rock Coffee Bar in a report on Wednesday, August 12th. Finally, Morgan Stanley lowered Black Rock Coffee Bar from an "overweight" rating to an "equal weight" rating and lowered their price objective for the company from $22.00 to $9.00 in a research report on Wednesday, July 15th. Two research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $10.50.

Black Rock Coffee Bar Trading Down 4.8%

Shares of BRCB opened at $10.57 on Wednesday. Black Rock Coffee Bar has a 1-year low of $6.11 and a 1-year high of $25.19. The company has a current ratio of 0.71, a quick ratio of 0.62 and a debt-to-equity ratio of 0.27. The firm's 50-day moving average price is $8.53 and its 200-day moving average price is $10.36. The firm has a market capitalization of $529.24 million, a price-to-earnings ratio of 158.57 and a beta of -0.92.

Black Rock Coffee Bar (NASDAQ:BRCB - Get Free Report) last released its quarterly earnings results on Tuesday, November 10th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.08 by ($0.03). Black Rock Coffee Bar had a return on equity of 1.46% and a net margin of 0.69%. The company had revenue of $66.75 million during the quarter. Sell-side analysts anticipate that Black Rock Coffee Bar will post 0.20 EPS for the current year.

Institutional Trading of Black Rock Coffee Bar

Hedge funds have recently made changes to their positions in the stock. Bank of New York Mellon Corp increased its position in Black Rock Coffee Bar by 50.1% during the 1st quarter. Bank of New York Mellon Corp now owns 1,161,703 shares of the company's stock valued at $15,009,000 after buying an additional 387,553 shares in the last quarter. Jennison Associates LLC boosted its holdings in Black Rock Coffee Bar by 59.9% in the first quarter. Jennison Associates LLC now owns 583,806 shares of the company's stock worth $7,543,000 after acquiring an additional 218,692 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of Black Rock Coffee Bar by 179.4% in the first quarter. Renaissance Technologies LLC now owns 207,600 shares of the company's stock worth $2,682,000 after acquiring an additional 133,296 shares during the last quarter. Bank of America Corp DE grew its stake in shares of Black Rock Coffee Bar by 1.9% in the first quarter. Bank of America Corp DE now owns 143,896 shares of the company's stock worth $1,859,000 after acquiring an additional 2,631 shares during the last quarter. Finally, Stoic Point Capital Management LLC bought a new position in shares of Black Rock Coffee Bar during the third quarter valued at $1,379,000.

Black Rock Coffee Bar News Summary

Here are the key news stories impacting Black Rock Coffee Bar this week:

• Positive Sentiment: Third-quarter revenue rose 29.7% year over year to about $66.8 million. Same-store sales increased 5.8%, the company opened 11 stores, and it reported diluted EPS of $0.05 versus a loss of $0.05 a year earlier. The stock moved higher following the results. Black Rock Coffee Bar Q3 results
• Neutral Sentiment: Stifel Nicolaus initiated coverage with a “Hold” rating and a $12 price target. The new coverage adds an analyst view, but the Hold recommendation signals a wait-and-see stance. Stifel Nicolaus begins coverage
• Negative Sentiment: Despite the sales growth and return to profitability, BRCB’s $0.05 EPS missed the $0.08 consensus estimate, and revenue of about $66.8 million came in below the roughly $68.8 million estimate. The shortfall could limit enthusiasm about the quarter. BRCB misses Q3 earnings and revenue estimates

Black Rock Coffee Bar Company Profile

Black Rock Coffee Bar is a specialty coffee company that operates a network of primarily drive-thru coffee shops in the United States. Founded in 2008 and headquartered in Portland, Oregon, the company focuses on convenient service, beverage customization and a digitally connected customer experience. Its menu includes brewed coffee, espresso-based beverages, cold and iced drinks, teas, smoothies and energy drinks, along with a selection of food and snack items. Black Rock also offers branded merchandise and customer loyalty services through its digital platforms.

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