BRC (NYSE:BRCC) Receives "Outperform" Rating from Telsey Advisory Group

BRC (NYSE:BRCC - Get Free Report)'s stock had its "outperform" rating reissued by stock analysts at Telsey Advisory Group in a research note issued on Thursday,Benzinga reports. They currently have a $4.00 price objective on the stock. Telsey Advisory Group's price objective suggests a potential upside of 142.42% from the stock's current price.

BRCC has been the topic of a number of other reports. Roth Capital set a $2.00 target price on BRC and gave the stock a "neutral" rating in a research note on Wednesday, May 7th. DA Davidson reissued a "buy" rating and issued a $3.00 price target on shares of BRC in a research report on Wednesday, March 19th.

BRC Stock Down 6.8%

NYSE BRCC traded down $0.12 during mid-day trading on Thursday, hitting $1.65. The company's stock had a trading volume of 917,074 shares, compared to its average volume of 834,604. The company's 50 day simple moving average is $1.64 and its 200 day simple moving average is $2.13. BRC has a twelve month low of $1.19 and a twelve month high of $5.81. The company has a current ratio of 1.30, a quick ratio of 0.61 and a debt-to-equity ratio of 1.50. The firm has a market capitalization of $351.81 million, a price-to-earnings ratio of -18.33 and a beta of 0.90.

BRC (NYSE:BRCC - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.02). BRC had a negative net margin of 1.67% and a negative return on equity of 2.09%. The business had revenue of $89.97 million during the quarter, compared to analyst estimates of $88.08 million. Analysts anticipate that BRC will post -0.02 earnings per share for the current year.

Insider Activity at BRC

In other BRC news, Director Evan Hafer bought 80,000 shares of BRC stock in a transaction dated Friday, July 18th. The shares were purchased at an average cost of $1.25 per share, with a total value of $100,000.00. Following the completion of the purchase, the director owned 80,000 shares of the company's stock, valued at approximately $100,000. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Stephen M. Kadenacy bought 80,000 shares of BRC stock in a transaction dated Friday, July 18th. The shares were acquired at an average cost of $1.25 per share, for a total transaction of $100,000.00. Following the completion of the purchase, the director directly owned 1,068,482 shares of the company's stock, valued at approximately $1,335,602.50. This trade represents a 8.09% increase in their position. The disclosure for this purchase can be found here. Insiders acquired 176,000 shares of company stock valued at $220,000 in the last quarter. Corporate insiders own 73.80% of the company's stock.

Institutional Investors Weigh In On BRC

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BRCC. Jones Financial Companies Lllp grew its stake in shares of BRC by 106.0% in the fourth quarter. Jones Financial Companies Lllp now owns 9,011 shares of the company's stock worth $29,000 after acquiring an additional 4,637 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of BRC in the fourth quarter worth $30,000. Ameriprise Financial Inc. purchased a new stake in shares of BRC in the fourth quarter worth $47,000. ProShare Advisors LLC purchased a new stake in shares of BRC in the fourth quarter worth $47,000. Finally, Deerfield Management Company L.P. Series C purchased a new stake in shares of BRC in the fourth quarter worth $48,000. 16.29% of the stock is owned by hedge funds and other institutional investors.

About BRC

BRC Inc, through its subsidiaries, purchases, roasts, and sells coffee, coffee accessories, and branded apparel in the United States. The company also produces media content, as well as sells coffee brewing equipment, and outdoor and lifestyle gear. It supports active military, veterans, and first responders.