BRC (NYSE:BRCC) Issues Quarterly Earnings Results

BRC (NYSE:BRCC) announced its quarterly earnings results on Monday. The company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.01, Zacks reports. The firm had revenue of $98.20 million for the quarter, compared to the consensus estimate of $95.06 million. BRC had a negative net margin of 1.22% and a positive return on equity of 23.81%. During the same period in the prior year, the firm posted ($0.05) earnings per share. BRC updated its FY 2024 guidance to EPS.

BRC Stock Up 3.2 %

Shares of BRCC stock opened at $3.26 on Wednesday. BRC has a 1-year low of $2.60 and a 1-year 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 business has a 50-day moving average of $3.50 and a 200 day moving average of $4.66.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on BRCC. Roth Mkm lowered shares of BRC from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $8.00 to $4.00 in a report on Friday, August 9th. DA Davidson restated a “buy” rating and set 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 report on Friday, August 9th. Finally, Telsey Advisory Group reissued an “outperform” rating and set a $6.00 price objective on shares of BRC in a report on Thursday, October 31st. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, BRC currently has a consensus rating of “Moderate Buy” and a consensus price target of $6.63.

Insider Activity at BRC

In related news, Director Thomas E. Davin sold 10,884 shares of the business’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 owns 15,851 shares in the company, valued at $60,392.31. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related 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 transaction of $41,468.04. Following the sale, the director now directly owns 15,851 shares in the company, valued at $60,392.31. The trade was a 0.00 % decrease in their ownership of the stock. 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 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 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.

BRC Company Profile

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.