BRC Inc. (NYSE:BRCC) Receives Average Recommendation of “Moderate Buy” from Brokerages

BRC Inc. (NYSE:BRCC) has been assigned a consensus rating of “Moderate Buy” from the six research firms that are covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $6.50.

A number of research analysts have commented on the stock. Roth Capital downgraded shares of BRC from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 9th. DA Davidson reaffirmed a “buy” rating and set a $5.50 price target on shares of BRC in a research report on Wednesday, September 18th. Roth Mkm reiterated a “neutral” rating and issued a $3.50 price target (down from $4.00) on shares of BRC in a research note on Wednesday, November 6th. Finally, Telsey Advisory Group restated an “outperform” rating and set a $6.00 price objective on shares of BRC in a research note on Thursday, October 31st.

Insider Activity

In other news, Director Thomas E. Davin sold 10,884 shares of the business’s stock in a transaction 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 owns 15,851 shares of the company’s stock, valued at approximately $60,392.31. The trade was a 40.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Evan Hafer sold 1,000,000 shares of the company’s stock in a transaction dated 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 three months, insiders sold 4,010,884 shares of company stock valued at $12,811,468. Company insiders own 73.80% of the company’s stock.

Institutional Investors Weigh In On BRC

A number of hedge funds have recently made changes to their positions in the business. Barclays PLC raised its stake in BRC by 325.9% during the 3rd quarter. Barclays PLC now owns 74,967 shares of the company’s stock valued at $257,000 after acquiring an additional 57,366 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of BRC by 0.9% during the third quarter. Geode Capital Management LLC now owns 1,073,638 shares of the company’s stock valued at $3,673,000 after purchasing an additional 10,100 shares in the last quarter. State Street Corp lifted its holdings in BRC by 3.2% in the third quarter. State Street Corp now owns 955,717 shares of the company’s stock worth $3,269,000 after purchasing an additional 29,596 shares during the period. Quadrature Capital Ltd bought a new position in BRC in the 3rd quarter valued at about $75,000. Finally, HighTower Advisors LLC increased its stake in BRC by 153.4% during the 3rd quarter. HighTower Advisors LLC now owns 27,521 shares of the company’s stock valued at $91,000 after buying an additional 16,661 shares during the period. Institutional investors own 16.29% of the company’s stock.

BRC Trading Up 3.1 %

NYSE:BRCC opened at $3.02 on Wednesday. BRC has a one year low of $2.78 and a one year high of $7.14. The business’s 50-day simple moving average is $3.25 and its 200 day simple moving average is $4.57. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.58 and a current ratio of 1.14. The stock has a market cap of $642.48 million, a price-to-earnings ratio of -37.75 and a beta of 1.16.

BRC (NYSE:BRCC) last announced its earnings results on Monday, November 4th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.01. BRC had a positive return on equity of 23.35% and a negative net margin of 1.22%. The company had revenue of $98.20 million for the quarter, compared to analyst estimates of $95.06 million. During the same period in the prior year, the company posted ($0.05) EPS. As a group, sell-side analysts predict that BRC will post -0.02 earnings per share 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.