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

DA Davidson reaffirmed their buy rating on shares of BRC (NYSE:BRCC) in a research note released on Wednesday, Benzinga reports. DA Davidson currently has a $5.50 price objective on the stock.

Several other equities research analysts have also issued reports on the stock. Telsey Advisory Group decreased their price target on shares of BRC from $8.00 to $6.00 and set an outperform rating on the stock in a report on Friday, August 9th. Tigress Financial reissued a buy rating and set a $11.00 price objective on shares of BRC in a report on Wednesday, May 22nd. Roth Mkm lowered BRC from a buy rating to a neutral rating and reduced their price objective for the stock from $8.00 to $4.00 in a research report on Friday, August 9th. Finally, Roth Capital downgraded BRC from a strong-buy rating to a hold rating in a research report on Friday, August 9th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, BRC has an average rating of Moderate Buy and a consensus target price of $6.63.

BRC Stock Down 5.6 %

NYSE BRCC opened at $3.37 on Wednesday. The business has a fifty day moving average price of $4.50 and a two-hundred day moving average price of $4.92. The stock has a market capitalization of $715.50 million, a PE ratio of -18.72 and a beta of 1.18. BRC has a fifty-two week low of $2.51 and a fifty-two week high of $7.14. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.07 and a quick ratio of 0.59.

BRC (NYSE:BRCC) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.01) earnings per share for the quarter, hitting the consensus estimate of ($0.01). BRC had a positive return on equity of 17.53% and a negative net margin of 1.88%. The business had revenue of $89.02 million during the quarter, compared to the consensus estimate of $101.54 million. During the same period in the prior year, the company earned ($0.03) EPS. Equities analysts expect that BRC will post -0.02 earnings per share for the current fiscal year.

Insider Activity at BRC

In other BRC news, Director Evan Hafer sold 3,000,000 shares of BRC stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $3.20, for a total transaction of $9,600,000.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other BRC news, Director Evan Hafer sold 3,000,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $3.20, for a total transaction of $9,600,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Thomas E. Davin sold 10,884 shares of the company’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $3.81, for a total transaction of $41,468.04. Following the completion of the sale, the director now directly owns 15,851 shares in the company, valued at $60,392.31. The disclosure for this sale can be found here. Insiders sold 4,010,884 shares of company stock worth $12,811,468 over the last three months. Company insiders own 73.80% of the company’s stock.

Institutional Trading of BRC

Large investors have recently bought and sold shares of the business. nVerses Capital LLC bought a new stake in shares of BRC during the 2nd quarter valued at about $28,000. Comerica Bank grew its position in shares of BRC by 316.4% during the 1st quarter. Comerica Bank now owns 6,054 shares of the company’s stock worth $26,000 after buying an additional 4,600 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of BRC in the 1st quarter valued at $45,000. Intrinsic Edge Capital Management LLC acquired a new position in shares of BRC during the 4th quarter valued at $50,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in BRC during the fourth quarter worth $72,000. 16.29% of the stock is currently owned by institutional investors and hedge funds.

About BRC

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.