Telsey Advisory Group Reaffirms "Outperform" Rating for BRC (NYSE:BRCC)

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.

BRC (NYSE:BRCC - Get Free Report)'s stock had its "outperform" rating reissued by equities researchers at Telsey Advisory Group in a research report issued on Tuesday,Benzinga reports. They presently have a $4.00 target price on the stock. Telsey Advisory Group's price objective would suggest a potential upside of 143.16% from the stock's previous close.

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

BRC Price Performance

NYSE BRCC opened at $1.65 on Tuesday. The company has a current ratio of 1.30, a quick ratio of 0.61 and a debt-to-equity ratio of 1.50. BRC has a 12 month low of $1.19 and a 12 month high of $5.47. The company's 50 day moving average is $1.63 and its two-hundred day moving average is $2.04. The stock has a market cap of $234.54 million, a price-to-earnings ratio of -18.28 and a beta of 0.93.

BRC (NYSE:BRCC - Get Free Report) last issued its earnings results on Monday, August 4th. The company reported ($0.07) earnings per share for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.04). BRC had a negative return on equity of 2.09% and a negative net margin of 1.67%. The company had revenue of $94.84 million for the quarter, compared to the consensus estimate of $91.78 million. As a group, research analysts anticipate that BRC will post -0.02 earnings per share for the current year.

Insider Activity at BRC

In other news, Director Stephen M. Kadenacy acquired 80,000 shares of the business's stock in a transaction on Friday, July 18th. The stock was bought at an average cost of $1.25 per share, for a total transaction of $100,000.00. Following the purchase, the director owned 1,068,482 shares in the company, valued at approximately $1,335,602.50. This represents a 8.09% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Glenn W. Welling purchased 400,000 shares of the stock in a transaction dated Friday, July 18th. The stock was purchased at an average cost of $1.25 per share, for a total transaction of $500,000.00. Following the completion of the purchase, the director directly owned 13,935,560 shares of the company's stock, valued at approximately $17,419,450. The trade was a 2.96% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 576,000 shares of company stock valued at $720,000. 73.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On BRC

A number of institutional investors have recently added to or reduced their stakes in BRCC. Raymond James Financial Inc. purchased a new position in BRC during the fourth quarter worth about $76,000. American Century Companies Inc. increased its holdings in shares of BRC by 7.9% during the 4th quarter. American Century Companies Inc. now owns 105,701 shares of the company's stock worth $335,000 after buying an additional 7,742 shares during the last quarter. Geode Capital Management LLC raised its position in shares of BRC by 4.0% during the 4th quarter. Geode Capital Management LLC now owns 1,116,595 shares of the company's stock valued at $3,540,000 after buying an additional 42,957 shares during the period. Bank of Montreal Can purchased a new stake in shares of BRC during the 4th quarter valued at approximately $96,000. Finally, Barclays PLC lifted its holdings in BRC by 11.2% in the fourth quarter. Barclays PLC now owns 83,339 shares of the company's stock valued at $264,000 after acquiring an additional 8,372 shares during the last quarter. Hedge funds and other institutional investors own 16.29% of the company's stock.

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.

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