BRC (NYSE:BRCC) Earns “Buy” Rating from DA Davidson

BRC (NYSE:BRCC)‘s stock had its “buy” rating restated by analysts at DA Davidson in a research note issued on Wednesday,Benzinga reports. They presently have a $2.50 target price on the stock. DA Davidson’s target price would suggest a potential upside of 141.55% from the company’s previous close.

BRCC has been the topic of a number of other reports. Wall Street Zen upgraded shares of BRC from a “hold” rating to a “buy” rating in a research note on Saturday, May 23rd. Weiss Ratings upgraded BRC from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, July 21st. Finally, Craig Hallum initiated coverage on BRC in a research report on Monday. They issued a “buy” rating and a $1.75 price target for the company. Three analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $2.25.

BRC Stock Performance

Shares of BRCC stock traded down $0.01 on Wednesday, hitting $1.03. 622,825 shares of the stock were exchanged, compared to its average volume of 1,067,948. The firm’s 50 day moving average is $1.25 and its two-hundred day moving average is $1.06. BRC has a one year low of $0.60 and a one year high of $1.85. The firm has a market capitalization of $258.23 million, a PE ratio of -10.35 and a beta of 1.25. The company has a current ratio of 1.36, a quick ratio of 0.74 and a debt-to-equity ratio of 0.46.

BRC (NYSE:BRCC) last released its quarterly earnings data on Monday, May 4th. The company reported $0.00 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.01. The business had revenue of $109.23 million for the quarter, compared to the consensus estimate of $96.95 million. BRC had a negative net margin of 0.89% and a negative return on equity of 5.38%.

Insider Activity at BRC

In other BRC news, insider Evan Hafer sold 2,000,000 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $1.49, for a total value of $2,980,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 54.87% of the company’s stock.

Institutional Trading of BRC

Hedge funds and other institutional investors have recently bought and sold shares of the company. Alyeska Investment Group L.P. bought a new position in shares of BRC during the 3rd quarter valued at $16,206,000. Nantahala Capital Management LLC bought a new stake in BRC in the third quarter worth $4,104,000. Zazove Associates LLC boosted its position in BRC by 270.7% during the first quarter. Zazove Associates LLC now owns 2,000,000 shares of the company’s stock valued at $1,552,000 after buying an additional 1,460,546 shares during the period. Vanguard Group Inc. boosted its position in BRC by 50.9% during the third quarter. Vanguard Group Inc. now owns 4,152,681 shares of the company’s stock valued at $6,478,000 after buying an additional 1,399,833 shares during the period. Finally, Millennium Management LLC grew its stake in shares of BRC by 71.5% during the third quarter. Millennium Management LLC now owns 1,900,439 shares of the company’s stock valued at $2,965,000 after buying an additional 792,458 shares during the last quarter. Hedge funds and other institutional investors own 16.29% of the company’s stock.

BRC Company Profile

Black Rifle Coffee Company, Inc is a veteran-owned specialty coffee roaster and retailer that offers a range of coffee products, merchandise and subscription services. The company sources, roasts and distributes its own blends and single-origin coffees, as well as ready-to-drink beverages and branded apparel. Its product lineup includes whole-bean and ground coffees, cold brew concentrates, K-cup pods and limited-edition small-batch offerings designed to appeal to active lifestyle and patriotic consumers.

Founded in 2014 by U.S.