BRC (NYSE:BRCC) Given Buy Rating at DA Davidson

Key Points

• DA Davidson reaffirmed its “Buy” rating on BRC and maintained a $2.50 price target, implying 141.55% upside from the stock’s $1.03 price. The analyst consensus is “Moderate Buy,” with an average target of $2.25.
• BRC reported quarterly revenue of $109.23 million, exceeding the $96.95 million consensus estimate, while earnings per share of $0.00 beat estimates by $0.01. However, the company continued to post a negative net margin and return on equity.
• Insider Evan Hafer sold 2 million shares for approximately $2.98 million, while company insiders collectively own 54.87% of BRC. Institutional investors own 16.29% after several hedge funds increased or initiated positions.

BRC (NYSE:BRCC - Get Free Report)'s stock had its "buy" rating reaffirmed by equities researchers at DA Davidson in a note issued to investors on Wednesday,Benzinga reports. They presently have a $2.50 price objective on the stock. DA Davidson's target price indicates a potential upside of 141.55% from the company's current price.

Several other research analysts have also issued reports on BRCC. Weiss Ratings upgraded BRC from a "sell (e+)" rating to a "sell (d-)" rating in a report on Tuesday, July 21st. Wall Street Zen raised BRC from a "hold" rating to a "buy" rating in a research report on Saturday, May 23rd. Finally, Craig Hallum initiated coverage on BRC in a report on Monday. They issued a "buy" rating and a $1.75 target price on the stock. Three research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, BRC has a consensus rating of "Moderate Buy" and an average price target of $2.25.

BRC Price Performance

NYSE:BRCC traded down $0.01 during mid-day trading on Wednesday, reaching $1.03. The stock had a trading volume of 622,825 shares, compared to its average volume of 1,067,948. BRC has a 12 month low of $0.60 and a 12 month high of $1.85. The stock has a market capitalization of $258.23 million, a PE ratio of -10.35 and a beta of 1.25. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.36 and a quick ratio of 0.74. The stock has a 50-day simple moving average of $1.25 and a two-hundred day simple moving average of $1.06.

BRC (NYSE:BRCC - Get Free Report) last posted 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. BRC had a negative net margin of 0.89% and a negative return on equity of 5.38%. The company had revenue of $109.23 million for the quarter, compared to the consensus estimate of $96.95 million.

Insider Transactions at BRC

In other BRC news, insider Evan Hafer sold 2,000,000 shares of the business's stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $1.49, for a total transaction of $2,980,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 54.87% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of BRCC. Alyeska Investment Group L.P. purchased a new stake in BRC in the 3rd quarter valued at $16,206,000. Vanguard Group Inc. boosted its holdings in BRC by 50.9% during the 3rd quarter. Vanguard Group Inc. now owns 4,152,681 shares of the company's stock worth $6,478,000 after acquiring an additional 1,399,833 shares during the last quarter. QVIDTVM Management LLC grew its stake in shares of BRC by 1.8% in the 4th quarter. QVIDTVM Management LLC now owns 3,400,681 shares of the company's stock worth $3,775,000 after acquiring an additional 60,000 shares in the last quarter. Nantahala Capital Management LLC purchased a new stake in shares of BRC in the third quarter valued at about $4,104,000. Finally, Geode Capital Management LLC raised its holdings in shares of BRC by 7.3% in the fourth quarter. Geode Capital Management LLC now owns 2,234,710 shares of the company's stock valued at $2,481,000 after purchasing an additional 151,438 shares during the last quarter. Hedge funds and other institutional investors 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source