BRC (NYSE:BRCC) Cut to “Neutral” at Roth Mkm

Roth Mkm lowered shares of BRC (NYSE:BRCC) from a buy rating to a neutral rating in a report released on Friday morning, Marketbeat.com reports. They currently have $4.00 target price on the stock, down from their prior target price of $8.00.

BRCC has been the topic of several other reports. Needham & Company LLC reiterated a hold rating on shares of BRC in a research note on Thursday, May 16th. Tigress Financial reissued a buy rating and set a $11.00 price objective on shares of BRC in a research note on Wednesday, May 22nd. Finally, Telsey Advisory Group restated an outperform rating and issued a $8.00 target price on shares of BRC in a research note on Wednesday, July 10th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, BRC has a consensus rating of Hold and a consensus price target of $7.00.

BRC Stock Up 2.9 %

BRC stock traded up $0.10 during midday trading on Friday, hitting $3.60. 468,854 shares of the stock were exchanged, compared to its average volume of 883,726. The stock has a market capitalization of $764.35 million, a price-to-earnings ratio of -19.44 and a beta of 1.21. The business’s 50-day moving average price is $5.80 and its 200-day moving average price is $4.95. The company has a quick ratio of 0.51, a current ratio of 1.07 and a debt-to-equity ratio of 1.02. BRC has a 52-week low of $2.51 and a 52-week high of $7.14.

BRC (NYSE:BRCC) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.01) EPS for the quarter, meeting the consensus estimate of ($0.01). BRC had a positive return on equity of 14.15% and a negative net margin of 2.78%. The business had revenue of $89.02 million for the quarter, compared to the consensus estimate of $101.54 million. During the same quarter in the prior year, the business earned ($0.03) earnings per share. On average, research analysts expect that BRC will post 0.03 EPS for the current fiscal year.

Hedge Funds Weigh In On BRC

Several hedge funds have recently made changes to their positions in BRCC. Comerica Bank increased its position in BRC by 316.4% during the 1st quarter. Comerica Bank now owns 6,054 shares of the company’s stock valued at $26,000 after purchasing an additional 4,600 shares during the period. Tower Research Capital LLC TRC raised its stake in BRC by 106.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 7,415 shares of the company’s stock worth $27,000 after buying an additional 3,831 shares in the last quarter. nVerses Capital LLC purchased a new stake in BRC in the second quarter worth about $28,000. Allworth Financial LP grew its holdings in shares of BRC by 83.6% during the 4th quarter. Allworth Financial LP now owns 9,776 shares of the company’s stock worth $35,000 after acquiring an additional 4,450 shares during the period. Finally, SG Americas Securities LLC bought a new position in shares of BRC in the 4th quarter worth approximately $37,000. 16.29% of the stock is owned by hedge funds and other institutional investors.

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.