Telsey Advisory Group Reiterates Outperform Rating for BRC (NYSE:BRCC)

BRC (NYSE:BRCC)‘s stock had its “outperform” rating reaffirmed by research analysts at Telsey Advisory Group in a note issued to investors on Thursday, Benzinga reports. They presently have a $6.00 price objective on the stock. Telsey Advisory Group’s target price would suggest a potential upside of 91.39% from the stock’s current price.

Other analysts have also issued research reports about the company. Roth Mkm lowered BRC from a “buy” rating to a “neutral” rating and lowered their price target for the company from $8.00 to $4.00 in a report on Friday, August 9th. Roth Capital cut shares of 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 issued a $5.50 target price on shares of BRC in a research note on Wednesday, September 18th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, BRC presently has an average rating of “Moderate Buy” and an average price target of $6.63.

BRC Price Performance

NYSE BRCC opened at $3.14 on Thursday. The stock’s 50-day moving average price is $3.57 and its 200-day moving average price is $4.68. The company has a market capitalization of $666.25 million, a P/E ratio of -26.12 and a beta of 1.15. BRC has a 52 week low of $2.60 and a 52 week high of $7.14. The company has a quick ratio of 0.59, a current ratio of 1.07 and a debt-to-equity ratio of 1.01.

BRC (NYSE:BRCC) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.01) EPS for the quarter, meeting analysts’ consensus estimates of ($0.01). The business had revenue of $89.02 million for the quarter, compared to analysts’ expectations 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 last year, the firm earned ($0.03) earnings per share. On average, equities research analysts predict that BRC will post -0.02 earnings per share for the current year.

Insider Buying and Selling at BRC

In other news, Director Evan Hafer sold 3,000,000 shares of the business’s 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other BRC news, Director Evan Hafer sold 3,000,000 shares of the stock in a transaction 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 sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Thomas E. Davin sold 10,884 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $3.81, for a total transaction of $41,468.04. Following the transaction, the director now directly owns 15,851 shares of the company’s stock, valued at approximately $60,392.31. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 4,010,884 shares of company stock valued at $12,811,468 in the last ninety days. Insiders own 73.80% of the company’s stock.

Hedge Funds Weigh In On BRC

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BRCC. Comerica Bank grew its position in BRC by 316.4% in the first 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 last quarter. nVerses Capital LLC acquired a new position in BRC during the second quarter worth $28,000. The Manufacturers Life Insurance Company lifted its holdings in BRC by 32.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 20,464 shares of the company’s stock worth $125,000 after purchasing an additional 5,064 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in BRC during the 1st quarter valued at approximately $45,000. Finally, Fortis Group Advisors LLC increased its holdings in BRC by 25.0% in the 2nd quarter. Fortis Group Advisors LLC now owns 56,925 shares of the company’s stock valued at $349,000 after buying an additional 11,388 shares during the period. 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.