BRC (NYSE:BRCC) Trading Up 5.3% – Still a Buy?

BRC Inc. (NYSE:BRCC) rose 5.3% during trading on Thursday . The company traded as high as $2.98 and last traded at $2.97. Approximately 525,612 shares changed hands during mid-day trading, a decline of 41% from the average daily volume of 897,243 shares. The stock had previously closed at $2.82.

Wall Street Analyst Weigh In

BRCC has been the topic of a number of analyst reports. DA Davidson reiterated a “buy” rating and issued a $5.50 price target on shares of BRC in a research report on Wednesday, September 18th. Roth Mkm reiterated a “neutral” rating and issued a $3.50 price target (down previously from $4.00) on shares of BRC in a research report on Wednesday, November 6th. Roth Capital lowered BRC from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 9th. Finally, Telsey Advisory Group reiterated an “outperform” rating and issued a $6.00 price target on shares of BRC in a research report on Thursday, October 31st. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, BRC has a consensus rating of “Moderate Buy” and a consensus price target of $6.50.

BRC Trading Up 1.0 %

The company has a current ratio of 1.14, a quick ratio of 0.58 and a debt-to-equity ratio of 0.92. The firm has a 50-day moving average of $3.30 and a 200 day moving average of $4.59. The company has a market cap of $641.82 million, a P/E ratio of -37.75 and a beta of 1.16.

BRC (NYSE:BRCC) last announced its earnings results on Monday, November 4th. The company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.02) by $0.01. BRC had a positive return on equity of 23.35% and a negative net margin of 1.22%. The company had revenue of $98.20 million for the quarter, compared to analyst estimates of $95.06 million. During the same quarter in the prior year, the company earned ($0.05) EPS. On average, analysts predict that BRC Inc. will post -0.02 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Evan Hafer sold 1,000,000 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $3.17, for a total value of $3,170,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thomas E. Davin sold 10,884 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $3.81, for a total value of $41,468.04. Following the completion of the sale, the director now directly owns 15,851 shares of the company’s stock, valued at approximately $60,392.31. This trade represents a 40.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,010,884 shares of company stock valued at $12,811,468. 73.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On BRC

Several institutional investors and hedge funds have recently bought and sold shares of the company. Blair William & Co. IL bought a new stake in BRC during the first quarter valued at $731,000. Comerica Bank raised 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 last quarter. Riverwater Partners LLC bought a new position in BRC during the 3rd quarter valued at approximately $1,091,000. Cubist Systematic Strategies LLC purchased a new position in shares of BRC during the 2nd quarter worth approximately $1,084,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of BRC during the 1st quarter worth approximately $45,000. 16.29% of the stock is owned by 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.