Analysts Set BRC Inc. (NYSE:BRCC) Price Target at $6.63

Shares of BRC Inc. (NYSE:BRCC) have been assigned an average rating of “Moderate Buy” from the six research firms that are presently covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $6.63.

Several brokerages recently commented on BRCC. Telsey Advisory Group dropped their target price on BRC from $8.00 to $6.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. Roth Mkm downgraded BRC from a “buy” rating to a “neutral” rating and dropped their target price for the company from $8.00 to $4.00 in a report on Friday, August 9th. Roth Capital downgraded BRC from a “strong-buy” rating to a “hold” rating in a report on Friday, August 9th. Finally, DA Davidson reiterated a “buy” rating and set a $5.50 target price on shares of BRC in a report on Wednesday, September 18th.

Insiders Place Their Bets

In other BRC news, Director Evan Hafer sold 3,000,000 shares of BRC stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $3.20, for a total transaction of $9,600,000.00. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, Director Thomas E. Davin sold 10,884 shares of BRC 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 transaction, the director now owns 15,851 shares in the company, valued at approximately $60,392.31. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Evan Hafer sold 3,000,000 shares of BRC stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $3.20, for a total value of $9,600,000.00. The disclosure for this sale can be found here. Insiders have sold 4,010,884 shares of company stock worth $12,811,468 in the last three months. 73.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in BRCC. Wasatch Advisors LP grew its position in shares of BRC by 334.0% in the 1st quarter. Wasatch Advisors LP now owns 1,459,418 shares of the company’s stock worth $6,246,000 after acquiring an additional 1,123,157 shares in the last quarter. Blair William & Co. IL boosted its position in BRC by 370.2% during the 2nd quarter. Blair William & Co. IL now owns 802,710 shares of the company’s stock valued at $4,921,000 after purchasing an additional 632,000 shares during the period. Maso Capital Partners Ltd acquired a new position in BRC during the 1st quarter valued at approximately $2,140,000. Marshall Wace LLP boosted its position in BRC by 76.4% during the 2nd quarter. Marshall Wace LLP now owns 812,373 shares of the company’s stock valued at $4,980,000 after purchasing an additional 351,757 shares during the period. Finally, Renaissance Technologies LLC boosted its position in BRC by 131.1% during the 2nd quarter. Renaissance Technologies LLC now owns 419,300 shares of the company’s stock valued at $2,570,000 after purchasing an additional 237,869 shares during the period. Institutional investors and hedge funds own 16.29% of the company’s stock.

BRC Stock Performance

NYSE BRCC opened at $3.33 on Tuesday. The business’s 50-day moving average price is $4.04 and its 200 day moving average price is $4.83. BRC has a twelve month low of $2.51 and a twelve month high of $7.14. The company has a market capitalization of $707.69 million, a PE ratio of -18.50 and a beta of 1.15. 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 (NYSE:BRCC) last released its earnings results on Wednesday, August 7th. The company reported ($0.01) earnings per share for the quarter, hitting the consensus estimate of ($0.01). The firm had revenue of $89.02 million for the quarter, compared to the consensus estimate of $101.54 million. BRC had a positive return on equity of 17.53% and a negative net margin of 1.88%. During the same period in the prior year, the business posted ($0.03) earnings per share. On average, research analysts predict that BRC will post -0.02 earnings per share for the current year.

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.