Black Rock Coffee Bar, Inc. (NASDAQ:BRCB) Stock Has Average Target Price of $11.50

Key Points

• Analysts hold a mixed view of Black Rock Coffee Bar: Seven analysts give the stock a consensus “Hold” rating, with three buys, three holds and one sell. The average 12-month price target is $11.50, above the $7.25 share price.
• Recent analyst actions have generally been cautious, including Morgan Stanley’s downgrade to “equal weight” and price-target cut to $9, while DA Davidson lowered its target to $10 but maintained a “buy” rating.
• Recent financial results fell slightly short of expectations: Black Rock reported quarterly earnings of $0.06 per share versus a $0.07 consensus estimate on $63 million in revenue. The stock remains well below its 52-week high of $26.48 and trades at a P/E ratio above 100.

Shares of Black Rock Coffee Bar, Inc. (NASDAQ:BRCB - Get Free Report) have received a consensus rating of "Hold" from the seven analysts that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $11.50.

A number of analysts recently weighed in on BRCB shares. DA Davidson lowered their price objective on shares of Black Rock Coffee Bar from $15.00 to $10.00 and set a "buy" rating for the company in a research note on Wednesday, August 12th. Raymond James Financial set a $13.00 target price on shares of Black Rock Coffee Bar in a research report on Wednesday, August 12th. Weiss Ratings upgraded shares of Black Rock Coffee Bar from a "sell (d-)" rating to a "sell (d)" rating in a report on Friday, October 2nd. Robert W. Baird reaffirmed a "neutral" rating and issued a $10.00 price target (down from $12.00) on shares of Black Rock Coffee Bar in a research report on Monday, August 24th. Finally, Morgan Stanley downgraded shares of Black Rock Coffee Bar from an "overweight" rating to an "equal weight" rating and dropped their price objective for the company from $22.00 to $9.00 in a research note on Wednesday, July 15th.

Institutional Trading of Black Rock Coffee Bar

Several hedge funds and other institutional investors have recently bought and sold shares of BRCB. Bank of America Corp DE lifted its stake in shares of Black Rock Coffee Bar by 1.9% during the 1st quarter. Bank of America Corp DE now owns 143,896 shares of the company's stock worth $1,859,000 after purchasing an additional 2,631 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in Black Rock Coffee Bar by 106.7% during the first quarter. PNC Financial Services Group Inc. now owns 8,219 shares of the company's stock valued at $106,000 after purchasing an additional 4,243 shares in the last quarter. Next Century Growth Investors LLC grew its stake in Black Rock Coffee Bar by 2.9% in the fourth quarter. Next Century Growth Investors LLC now owns 161,601 shares of the company's stock valued at $3,596,000 after purchasing an additional 4,524 shares during the last quarter. BlueCrest Capital Management Ltd bought a new position in Black Rock Coffee Bar in the second quarter worth about $166,000. Finally, Sei Investments Co. raised its holdings in Black Rock Coffee Bar by 58.2% in the first quarter. Sei Investments Co. now owns 62,607 shares of the company's stock worth $809,000 after purchasing an additional 23,040 shares in the last quarter.

Black Rock Coffee Bar Trading Up 1.3%

BRCB opened at $7.25 on Friday. The stock's fifty day moving average is $8.05 and its two-hundred day moving average is $9.13. The company has a market capitalization of $363.03 million and a P/E ratio of 103.59. Black Rock Coffee Bar has a 52 week low of $6.11 and a 52 week high of $26.48. The company has a quick ratio of 0.62, a current ratio of 0.71 and a debt-to-equity ratio of 0.27.

Black Rock Coffee Bar (NASDAQ:BRCB - Get Free Report) last issued its earnings results on Tuesday, August 11th. The company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.01). Black Rock Coffee Bar had a return on equity of 1.46% and a net margin of 0.69%. The firm had revenue of $63.00 million during the quarter. Analysts forecast that Black Rock Coffee Bar will post 0.21 earnings per share for the current year.

Black Rock Coffee Bar Company Profile

Black Rock Coffee Bar, Inc operates a chain of specialty coffee shops under the Black Rock Coffee Bar brand. The company primarily serves beverages through drive-thru and café locations, with a menu that includes coffee, espresso-based drinks, teas, blended beverages, energy drinks and other specialty refreshments.

In addition to beverages, Black Rock Coffee Bar offers food and snack items such as breakfast selections, pastries and other grab-and-go products. Its locations are designed to provide convenient service for customers seeking handcrafted drinks and light food options.

Founded in 2008, the company was established by Jeff Hernandez and Daniel Brand and is headquartered in Portland, Oregon.

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