DA Davidson Cuts BRC (NYSE:BRCC) Price Target to $10.00

BRC (NYSE:BRCC – Get Rating) had its target price reduced by DA Davidson from $12.00 to $10.00 in a research report sent to investors on Thursday morning, The Fly reports.

A number of other equities research analysts have also weighed in on the stock. Truist Financial cut their target price on shares of BRC from $10.00 to $5.00 in a research note on Thursday. Telsey Advisory Group reaffirmed an outperform rating and set a $12.00 target price on shares of BRC in a research note on Monday, March 13th. Tigress Financial reissued a buy rating and set a $19.00 price target on shares of BRC in a research report on Friday, January 20th. Finally, Citigroup lowered their price target on shares of BRC from $8.00 to $6.50 and set a neutral rating for the company in a research report on Thursday. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of Hold and a consensus price target of $10.08.

BRC Stock Performance

Shares of BRCC opened at $5.17 on Thursday. The firm’s 50-day moving average price is $6.56 and its 200-day moving average price is $6.84. The company has a quick ratio of 1.68, a current ratio of 2.34 and a debt-to-equity ratio of 0.49. BRC has a 1-year low of $5.04 and a 1-year high of $34.00.

Insider Activity at BRC

In other BRC news, CFO Gregory James Iverson sold 50,000 shares of BRC stock in a transaction dated Wednesday, February 15th. The shares were sold at an average price of $8.03, for a total value of $401,500.00. Following the completion of the transaction, the chief financial officer now directly owns 1,417,535 shares of the company’s stock, valued at $11,382,806.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 66.17% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC purchased a new position in BRC in the third quarter worth about $627,000. Atom Investors LP purchased a new position in shares of BRC during the third quarter valued at approximately $103,000. Woodard & Co. Asset Management Group Inc. ADV raised its holdings in shares of BRC by 14.1% during the third quarter. Woodard & Co. Asset Management Group Inc. ADV now owns 119,285 shares of the company’s stock valued at $922,000 after purchasing an additional 14,715 shares during the last quarter. Insight Advisors LLC PA raised its holdings in shares of BRC by 50.0% during the second quarter. Insight Advisors LLC PA now owns 18,300 shares of the company’s stock valued at $164,000 after purchasing an additional 6,100 shares during the last quarter. Finally, Engaged Capital LLC raised its holdings in shares of BRC by 19.1% during the third quarter. Engaged Capital LLC now owns 13,251,450 shares of the company’s stock valued at $102,434,000 after purchasing an additional 2,126,450 shares during the last quarter. 12.98% of the stock is owned by hedge funds and other institutional investors.

About BRC

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BRC Inc, through its subsidiaries, purchases, roasts, and sells coffee, coffee accessories, and branded apparel. The company also produces media content; podcasts; and digital and print journals, as well as sells coffee brewing equipment, and outdoor and lifestyle gear. It supports active military, veterans, and first responders.