TD Cowen Reiterates Buy Rating for Dutch Bros (NYSE:BROS)

Key Points

Error: Response status code does not indicate success: 429 (Too Many Requests).

TD Cowen restated their buy rating on shares of Dutch Bros (NYSE:BROS - Free Report) in a research note released on Tuesday,Benzinga reports. The brokerage currently has a $86.00 target price on the stock.

A number of other research analysts have also recently issued reports on the stock. CICC Research assumed coverage on shares of Dutch Bros in a report on Monday, June 30th. They issued an "outperform" rating and a $80.00 target price for the company. TD Securities reaffirmed a "buy" rating and issued a $78.00 target price on shares of Dutch Bros in a report on Thursday, May 8th. The Goldman Sachs Group assumed coverage on shares of Dutch Bros in a report on Thursday, June 26th. They issued a "neutral" rating and a $75.00 target price for the company. Bank of America increased their target price on shares of Dutch Bros from $80.00 to $84.00 and gave the company an "overweight" rating in a report on Thursday, August 7th. Finally, Piper Sandler dropped their target price on shares of Dutch Bros from $70.00 to $63.00 and set a "neutral" rating for the company in a report on Thursday, May 8th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $79.76.

Dutch Bros Stock Performance

NYSE BROS traded up $2.2050 during trading hours on Tuesday, hitting $65.3350. 4,738,619 shares of the stock were exchanged, compared to its average volume of 3,949,006. The company has a market cap of $10.75 billion, a price-to-earnings ratio of 139.01, a price-to-earnings-growth ratio of 3.68 and a beta of 2.63. Dutch Bros has a 12-month low of $30.30 and a 12-month high of $86.88. The stock has a 50-day moving average of $64.65 and a 200 day moving average of $65.83. The company has a quick ratio of 1.42, a current ratio of 1.64 and a debt-to-equity ratio of 0.69.

Dutch Bros (NYSE:BROS - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.08. The firm had revenue of $415.81 million during the quarter, compared to analysts' expectations of $403.24 million. Dutch Bros had a net margin of 3.94% and a return on equity of 8.86%. The firm's revenue for the quarter was up 28.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.19 earnings per share. As a group, equities research analysts forecast that Dutch Bros will post 0.57 earnings per share for the current year.

Institutional Trading of Dutch Bros

A number of hedge funds have recently bought and sold shares of BROS. Marshall Wace LLP boosted its position in Dutch Bros by 139.2% during the second quarter. Marshall Wace LLP now owns 2,509,767 shares of the company's stock worth $171,593,000 after acquiring an additional 1,460,376 shares during the last quarter. Norges Bank acquired a new position in shares of Dutch Bros in the 2nd quarter valued at $93,525,000. BNP Paribas Financial Markets boosted its holdings in shares of Dutch Bros by 1,572.2% in the 1st quarter. BNP Paribas Financial Markets now owns 1,144,488 shares of the company's stock valued at $70,661,000 after purchasing an additional 1,076,045 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of Dutch Bros by 70.9% in the 2nd quarter. Invesco Ltd. now owns 2,333,142 shares of the company's stock valued at $159,517,000 after purchasing an additional 967,861 shares during the last quarter. Finally, 1832 Asset Management L.P. boosted its holdings in shares of Dutch Bros by 29.9% in the 1st quarter. 1832 Asset Management L.P. now owns 3,420,200 shares of the company's stock valued at $211,163,000 after purchasing an additional 788,100 shares during the last quarter. Institutional investors and hedge funds own 85.54% of the company's stock.

About Dutch Bros

Dutch Bros Inc, together with its subsidiaries, operates and franchises drive-thru shops in the United States. The company operates through Company-Operated Shops and Franchising and Other segments. It serves through company-operated shops and online channels under Dutch Bros; Dutch Bros Coffee; Dutch Bros Rebel; Dutch Bros; and Blue Rebel brands.