BRC’s (BRCC) Neutral Rating Reaffirmed at Roth Mkm

BRC (NYSE:BRCC)‘s stock had its “neutral” rating restated by equities researchers at Roth Mkm in a report issued on Wednesday, Benzinga reports. They presently have a $3.50 price target on the stock, down from their previous price target of $4.00. Roth Mkm’s target price would suggest a potential upside of 10.06% from the company’s current price.

A number of other brokerages have also recently weighed in on BRCC. 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 Capital cut BRC from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 9th. Finally, Telsey Advisory Group reissued an “outperform” rating and issued a $6.00 price objective on shares of BRC in a research note on Thursday, October 31st. 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, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $6.50.

BRC Stock Performance

NYSE BRCC traded down $0.11 during trading on Wednesday, hitting $3.18. The company’s stock had a trading volume of 696,701 shares, compared to its average volume of 894,681. The firm has a market cap of $675.81 million, a P/E ratio of -39.63 and a beta of 1.16. 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 has a 52 week low of $2.60 and a 52 week high of $7.14. The firm has a 50 day moving average price of $3.50 and a 200 day moving average price of $4.66.

BRC (NYSE:BRCC) last announced its quarterly earnings results on Monday, November 4th. The company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.01. BRC had a positive return on equity of 23.81% and a negative net margin of 1.22%. The firm had revenue of $98.20 million for the quarter, compared to analysts’ expectations of $95.06 million. During the same period in the prior year, the business posted ($0.05) earnings per share. Equities research analysts forecast that BRC will post -0.02 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other BRC news, Director Evan Hafer sold 3,000,000 shares of the company’s 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 transaction was disclosed in a filing with the SEC, which is available at this link. In other news, Director Thomas E. Davin sold 10,884 shares of the stock in a transaction 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 transaction, the director now owns 15,851 shares of the company’s stock, valued at $60,392.31. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Evan Hafer sold 3,000,000 shares of the stock in a transaction on Wednesday, September 11th. The shares were 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. In the last quarter, insiders have sold 4,010,884 shares of company stock valued at $12,811,468. 73.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Blair William & Co. IL raised its stake in BRC by 370.2% during the 2nd quarter. Blair William & Co. IL now owns 802,710 shares of the company’s stock worth $4,921,000 after buying an additional 632,000 shares during the period. Maso Capital Partners Ltd acquired a new stake in BRC during the 1st quarter worth $2,140,000. Marshall Wace LLP raised its stake in BRC by 76.4% during the 2nd quarter. Marshall Wace LLP now owns 812,373 shares of the company’s stock worth $4,980,000 after buying an additional 351,757 shares during the period. Riverwater Partners LLC acquired a new stake in BRC during the 3rd quarter worth $1,091,000. Finally, Renaissance Technologies LLC raised its stake in BRC by 131.1% during the 2nd quarter. Renaissance Technologies LLC now owns 419,300 shares of the company’s stock worth $2,570,000 after buying an additional 237,869 shares during the period. Institutional investors and hedge funds 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.