BRC Inc. (NYSE:BRCC) Receives $6.63 Average PT from Analysts

Shares of BRC Inc. (NYSE:BRCC) have earned an average rating of “Moderate Buy” from the six analysts that are covering the company, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $6.63.

A number of analysts recently weighed in on the stock. Telsey Advisory Group reiterated an “outperform” rating and set a $6.00 price target on shares of BRC in a research note on Thursday. Roth Mkm cut 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 research note on Friday, August 9th. DA Davidson reiterated a “buy” rating and set a $5.50 price target on shares of BRC in a research note on Wednesday, September 18th. Finally, Roth Capital cut shares of BRC from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 9th.

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 shares were sold at an average price of $3.20, for a total transaction of $9,600,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Thomas E. Davin sold 10,884 shares of the stock in a transaction dated Monday, September 9th. The shares were 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 $60,392.31. This trade represents a 0.00 % decrease in their position. The sale 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 dated Wednesday, September 11th. The shares were sold at an average price of $3.20, for a total transaction of $9,600,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,010,884 shares of company stock worth $12,811,468. 73.80% of the stock is owned by insiders.

Hedge Funds Weigh In On BRC

A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of BRC by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 4,162,960 shares of the company’s stock valued at $17,817,000 after purchasing an additional 14,361 shares in the last quarter. Wasatch Advisors LP increased its holdings in BRC by 334.0% during the 1st quarter. Wasatch Advisors LP now owns 1,459,418 shares of the company’s stock valued at $6,246,000 after acquiring an additional 1,123,157 shares in the last quarter. Marshall Wace LLP increased its holdings 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 acquiring an additional 351,757 shares in the last quarter. Blair William & Co. IL increased its holdings 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 acquiring an additional 632,000 shares in the last quarter. Finally, Maso Capital Partners Ltd purchased a new position in BRC during the 1st quarter valued at about $2,140,000. Hedge funds and other institutional investors own 16.29% of the company’s stock.

BRC Stock Performance

Shares of BRC stock opened at $3.14 on Friday. The company has a fifty day simple moving average of $3.57 and a 200-day simple moving average of $4.68. BRC has a 12-month low of $2.60 and a 12-month high of $7.14. The company has a current ratio of 1.07, a quick ratio of 0.59 and a debt-to-equity ratio of 1.01. The stock has a market cap of $666.25 million, a price-to-earnings ratio of -26.12 and a beta of 1.15.

BRC (NYSE:BRCC) last issued its earnings results on Wednesday, August 7th. The company reported ($0.01) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.01). The business had revenue of $89.02 million during the quarter, compared to analysts’ expectations of $101.54 million. BRC had a negative net margin of 1.88% and a positive return on equity of 17.53%. During the same quarter in the prior year, the business posted ($0.03) EPS. On average, equities analysts forecast that BRC will post -0.02 EPS for the current fiscal 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.