BRC (NYSE:BRCC) Coverage Initiated at Craig Hallum

Key Points

• Craig Hallum initiated coverage of BRC with a “buy” rating and a $1.75 price target, implying approximately 67% upside from the stock’s $1.04 opening price. The analyst consensus is “Moderate Buy,” with an average target of $2.25.
• BRC’s latest quarterly results exceeded expectations, with earnings of $0.00 per share versus the estimated $(0.01) loss and revenue of $109.23 million versus the $96.95 million forecast.
• Insider ownership remains high at 54.87%, although insider Evan Hafer sold 2 million shares for about $2.98 million. Institutional investors own 16.29% of the company, with several major firms increasing their positions.

Investment analysts at Craig Hallum started coverage on shares of BRC (NYSE:BRCC - Get Free Report) in a research note issued on Monday, MarketBeat Ratings reports. The brokerage set a "buy" rating and a $1.75 price target on the stock. Craig Hallum's price target would suggest a potential upside of 67.46% from the company's current price.

Several other research analysts have also recently commented on BRCC. Weiss Ratings upgraded shares of BRC from a "sell (e+)" rating to a "sell (d-)" rating in a report on Tuesday, July 21st. Wall Street Zen upgraded shares of BRC from a "hold" rating to a "buy" rating in a research report on Saturday, May 23rd. Finally, DA Davidson reaffirmed a "buy" rating and issued a $2.50 target price on shares of BRC in a research report on Thursday, July 2nd. Three investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $2.25.

BRC Trading Up 1.5%

BRC stock opened at $1.04 on Monday. The firm has a market cap of $260.73 million, a price-to-earnings ratio of -10.45 and a beta of 1.25. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.74 and a current ratio of 1.36. The firm's 50 day moving average price is $1.27 and its two-hundred day moving average price is $1.06. BRC has a 1 year low of $0.60 and a 1 year high of $1.85.

BRC (NYSE:BRCC - Get Free Report) last released its quarterly earnings results on Monday, May 4th. The company reported $0.00 earnings per share for the quarter, beating analysts' consensus estimates of ($0.01) by $0.01. The business had revenue of $109.23 million during the quarter, compared to analyst estimates of $96.95 million. BRC had a negative return on equity of 14.55% and a negative net margin of 2.17%.

Insiders Place Their Bets

In other BRC news, insider Evan Hafer sold 2,000,000 shares of the business's stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $1.49, for a total value of $2,980,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 54.87% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. AQR Capital Management LLC lifted its position in shares of BRC by 342.1% during the 1st quarter. AQR Capital Management LLC now owns 56,861 shares of the company's stock worth $119,000 after purchasing an additional 43,998 shares during the last quarter. Millennium Management LLC boosted its holdings in BRC by 4.1% in the 1st quarter. Millennium Management LLC now owns 1,871,110 shares of the company's stock valued at $3,911,000 after purchasing an additional 72,962 shares during the period. Goldman Sachs Group Inc. grew its position in BRC by 204.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 651,251 shares of the company's stock worth $1,361,000 after purchasing an additional 437,359 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of BRC by 10.0% during the 2nd quarter. Geode Capital Management LLC now owns 1,270,764 shares of the company's stock worth $1,665,000 after purchasing an additional 115,289 shares during the period. Finally, Rhumbline Advisers raised its position in shares of BRC by 158.5% during the second quarter. Rhumbline Advisers now owns 178,510 shares of the company's stock valued at $234,000 after buying an additional 109,444 shares during the last quarter. Institutional investors and hedge funds own 16.29% of the company's stock.

BRC Company Profile

Black Rifle Coffee Company, Inc is a veteran-owned specialty coffee roaster and retailer that offers a range of coffee products, merchandise and subscription services. The company sources, roasts and distributes its own blends and single-origin coffees, as well as ready-to-drink beverages and branded apparel. Its product lineup includes whole-bean and ground coffees, cold brew concentrates, K-cup pods and limited-edition small-batch offerings designed to appeal to active lifestyle and patriotic consumers.

Founded in 2014 by U.S.

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