BRC (NYSE:BRCC) Given Outperform Rating at Telsey Advisory Group

BRC (NYSE:BRCC)‘s stock had its “outperform” rating reiterated by equities researchers at Telsey Advisory Group in a research note issued on Thursday, Benzinga reports. They presently have a $6.00 price objective on the stock. Telsey Advisory Group’s target price would indicate a potential upside of 91.69% from the stock’s previous close.

Several other analysts have also recently weighed in on the stock. DA Davidson reiterated a “buy” rating and issued a $5.50 price objective on shares of BRC in a research note on Wednesday, September 18th. Roth Capital cut shares of BRC from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 9th. Finally, Roth Mkm cut shares of BRC from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $8.00 to $4.00 in a research note on Friday, August 9th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, BRC presently has an average rating of “Moderate Buy” and an average price target of $6.63.

BRC Stock Performance

Shares of BRCC stock opened at $3.13 on Thursday. BRC has a 52 week low of $2.60 and a 52 week high of $7.14. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.59 and a current ratio of 1.07. The company has a 50-day simple moving average of $3.62 and a 200 day simple moving average of $4.70. The company has a market capitalization of $665.20 million, a price-to-earnings ratio of -27.50 and a beta of 1.15.

BRC (NYSE:BRCC) last issued 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 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 analysts’ expectations of $101.54 million. During the same quarter in the previous year, the company earned ($0.03) EPS. On average, sell-side analysts predict that BRC will post -0.02 earnings per share for the current year.

Insider Activity

In other news, Director Evan Hafer sold 1,000,000 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $3.17, for a total value of $3,170,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Thomas E. Davin sold 10,884 shares of the company’s stock in a transaction that occurred 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 transaction, the director now directly owns 15,851 shares in the company, valued at $60,392.31. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Evan Hafer sold 1,000,000 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $3.17, for a total transaction of $3,170,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,010,884 shares of company stock worth $12,811,468. 73.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On BRC

Institutional investors have recently added to or reduced their stakes in the stock. 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 worth $26,000 after purchasing an additional 4,600 shares in the last quarter. nVerses Capital LLC bought a new stake in BRC during the 2nd quarter worth approximately $28,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in BRC during the 1st quarter worth approximately $45,000. United Asset Strategies Inc. bought a new stake in BRC during the 3rd quarter worth approximately $50,000. Finally, The Manufacturers Life Insurance Company grew its holdings in BRC by 32.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 20,464 shares of the company’s stock worth $125,000 after acquiring an additional 5,064 shares during the last quarter. 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.