DA Davidson Reaffirms "Buy" Rating for BRC (NYSE:BRCC)

Key Points

• DA Davidson reaffirmed a "Buy" rating on BRC with a $2.50 price target, implying about an 88.8% upside from the current price; analysts remain mixed overall with a MarketBeat consensus of "Hold" and a $2.33 average target.
• BRC traded at $1.32 on heavy volume and reported a quarterly revenue beat ($109.2M vs. $96.95M) and an EPS beat (reported $0.00 vs. ($0.01) est.), while still showing negative net margin and return on equity.
• An insider (director Steven Taslitz) bought 150,000 shares at $0.75 and insiders now own 54.87% of the stock, while institutions including Goldman, Millennium and AQR significantly increased positions, signaling notable insider and institutional buying interest.

BRC (NYSE:BRCC - Get Free Report)'s stock had its "buy" rating restated by stock analysts at DA Davidson in a research report issued to clients and investors on Tuesday,Benzinga reports. They currently have a $2.50 price objective on the stock. DA Davidson's target price would indicate a potential upside of 88.82% from the stock's current price.

A number of other equities analysts also recently issued reports on BRCC. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of BRC in a research report on Monday, April 20th. Telsey Advisory Group reissued an "outperform" rating and issued a $2.50 target price on shares of BRC in a research report on Tuesday, March 3rd. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, BRC has an average rating of "Hold" and a consensus price target of $2.33.

BRC Stock Performance

NYSE BRCC traded up $0.23 on Tuesday, hitting $1.32. 8,042,127 shares of the company traded hands, compared to its average volume of 983,947. The company has a market capitalization of $329.28 million, a price-to-earnings ratio of -9.25 and a beta of 1.03. The company has a current ratio of 1.32, a quick ratio of 0.67 and a debt-to-equity ratio of 0.48. The business's 50 day moving average price is $0.85 and its 200-day moving average price is $1.02. BRC has a 52-week low of $0.60 and a 52-week high of $2.10.

BRC (NYSE:BRCC - Get Free Report) last announced its quarterly earnings data on Monday, May 4th. The company reported $0.00 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.01. BRC had a negative return on equity of 21.46% and a negative net margin of 2.99%.The business had revenue of $109.23 million for the quarter, compared to the consensus estimate of $96.95 million.

Insiders Place Their Bets

In other BRC news, Director Steven Taslitz bought 150,000 shares of BRC stock in a transaction dated Thursday, March 5th. The stock was acquired at an average cost of $0.75 per share, with a total value of $112,500.00. Following the completion of the acquisition, the director owned 601,184 shares of the company's stock, valued at approximately $450,888. This represents a 33.25% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 54.87% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

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

About BRC

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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