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

DA Davidson reaffirmed their buy rating on shares of BRC (NYSE:BRCC) in a research report report published on Friday, Benzinga reports. They currently have a $5.50 price objective on the stock.

A number of other equities research analysts also recently commented on the stock. Telsey Advisory Group cut their target price on shares of BRC from $8.00 to $6.00 and set an outperform rating for the company in a research report on Friday, August 9th. Tigress Financial reissued a buy rating and set a $11.00 price objective on shares of BRC in a research report on Wednesday, May 22nd. Needham & Company LLC reissued a hold rating on shares of BRC in a research report on Thursday, May 16th. Roth Capital downgraded shares of BRC from a strong-buy rating to a hold rating in a research report on Friday, August 9th. Finally, Roth Mkm downgraded shares of BRC from a buy rating to a neutral rating and cut their price objective for the company from $8.00 to $4.00 in a research report on Friday, August 9th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, BRC currently has an average rating of Moderate Buy and a consensus price target of $6.63.

BRC Trading Down 4.0 %

NYSE:BRCC opened at $3.75 on Friday. The company has a current ratio of 1.07, a quick ratio of 0.59 and a debt-to-equity ratio of 1.01. BRC has a 12 month low of $2.51 and a 12 month high of $7.14. The company has a market cap of $795.89 million, a PE ratio of -20.80 and a beta of 1.18. The company has a 50 day simple moving average of $4.92 and a two-hundred day simple moving average of $4.97.

BRC (NYSE:BRCC) last posted its earnings results on Wednesday, August 7th. The company reported ($0.01) EPS for the quarter, hitting analysts’ consensus estimates of ($0.01). BRC had a negative net margin of 1.88% and a positive return on equity of 17.53%. The business had revenue of $89.02 million during the quarter, compared to the consensus estimate of $101.54 million. During the same quarter in the previous year, the firm posted ($0.03) EPS. Research analysts forecast that BRC will post -0.02 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Comerica Bank boosted its holdings in BRC by 316.4% in 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. nVerses Capital LLC bought a new position in BRC in the 2nd quarter worth $28,000. Mirae Asset Global Investments Co. Ltd. bought a new position in BRC in the 1st quarter worth $45,000. Intrinsic Edge Capital Management LLC bought a new position in BRC in the 4th quarter worth $50,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in BRC in the 4th quarter worth $72,000. Institutional investors own 16.29% of the company’s stock.

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.