BRC (NYSE:BRCC) Given "Outperform" Rating at Telsey Advisory Group

Key Points

• Telsey Advisory Group has reaffirmed an "outperform" rating for BRC (NYSE:BRCC) with a target price of $4.00, indicating a potential upside of 143.16% from the stock's previous close.
• The company reported ($0.07) earnings per share, missing analysts' estimates, while displaying revenue of $94.84 million for the quarter, surpassing expectations.
• Insider transactions indicate increased confidence, with directors acquiring shares at $1.25, resulting in an 8.09% and 2.96% increase in their ownership percentages.

Telsey Advisory Group reaffirmed their outperform rating on shares of BRC (NYSE:BRCC - Free Report) in a research note published on Tuesday,Benzinga reports. Telsey Advisory Group currently has a $4.00 price target on the stock.

Separately, Roth Capital set a $2.00 price target on BRC and gave the stock a "neutral" rating in a research report on Wednesday, May 7th.

BRC Stock Performance

BRC stock traded down $0.12 during midday trading on Tuesday, hitting $1.44. The stock had a trading volume of 968,019 shares, compared to its average volume of 1,302,621. BRC has a 52-week low of $1.19 and a 52-week high of $4.65. The company has a market capitalization of $204.60 million, a PE ratio of -9.57 and a beta of 0.93. The firm's fifty day moving average is $1.59 and its two-hundred day moving average is $2.01. The company has a current ratio of 1.29, a quick ratio of 0.61 and a debt-to-equity ratio of 1.97.

BRC (NYSE:BRCC - Get Free Report) last announced its earnings results on Monday, August 4th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.04). BRC had a negative net margin of 2.89% and a negative return on equity of 12.88%. The business had revenue of $94.84 million for the quarter, compared to analysts' expectations of $91.78 million. On average, research analysts forecast that BRC will post -0.02 EPS for the current year.

Insider Buying and Selling

In related news, Director Glenn W. Welling purchased 400,000 shares of the firm's stock in a transaction on Friday, July 18th. The shares were bought at an average price of $1.25 per share, for a total transaction of $500,000.00. Following the acquisition, the director directly owned 13,935,560 shares in the company, valued at $17,419,450. This trade represents a 2.96% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director Evan Hafer purchased 80,000 shares of the stock in a transaction on 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 transaction, the director owned 80,000 shares of the company's stock, valued at $100,000. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders purchased 576,000 shares of company stock worth $720,000 in the last ninety days. Insiders own 69.00% of the company's stock.

Institutional Trading of BRC

A number of institutional investors have recently added to or reduced their stakes in the business. R Squared Ltd purchased a new stake in BRC during the 2nd quarter worth $28,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of BRC in the 4th quarter valued at about $30,000. Ellsworth Advisors LLC bought a new position in BRC during the 1st quarter worth approximately $34,000. ProShare Advisors LLC acquired a new position in BRC in the fourth quarter worth $47,000. Finally, Ameriprise Financial Inc. bought a new stake in shares of BRC during the 4th quarter valued at about $47,000. 16.29% of the stock is owned by hedge funds and other institutional investors.

BRC Company Profile

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.