Dutch Bros’ (BROS) Buy Rating Reiterated at TD Cowen

Dutch Bros (NYSE:BROS)‘s stock had its “buy” rating reiterated by stock analysts at TD Cowen in a note issued to investors on Friday, Marketbeat reports. They currently have a $59.00 price target on the stock. TD Cowen’s price objective would suggest a potential upside of 53.25% from the company’s previous close.

Several other brokerages have also issued reports on BROS. Royal Bank Of Canada reduced their target price on Dutch Bros from $75.00 to $70.00 and set an “outperform” rating on the stock in a research report on Thursday, August 6th. Morgan Stanley boosted their price target on Dutch Bros from $87.00 to $88.00 and gave the company an “overweight” rating in a research note on Wednesday, July 15th. Freedom Capital upgraded Dutch Bros to a “strong-buy” rating in a research note on Wednesday, July 1st. DA Davidson dropped their price target on Dutch Bros from $90.00 to $85.00 and set a “buy” rating on the stock in a research note on Thursday, August 6th. Finally, Oppenheimer boosted their price target on Dutch Bros from $72.00 to $82.00 and gave the company an “outperform” rating in a research note on Tuesday, June 30th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $75.36.

Dutch Bros Stock Up 0.2%

NYSE:BROS traded up $0.07 during mid-day trading on Friday, hitting $38.50. 2,776,248 shares of the company’s stock traded hands, compared to its average volume of 4,305,304. The company has a fifty day moving average of $52.59 and a 200 day moving average of $55.63. Dutch Bros has a twelve month low of $37.72 and a twelve month high of $74.02. The company has a market capitalization of $6.73 billion, a P/E ratio of 53.47, a P/E/G ratio of 1.38 and a beta of 2.28. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.19 and a current ratio of 1.35.

Dutch Bros (NYSE:BROS) last announced its earnings results on Wednesday, August 5th. The company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.04. Dutch Bros had a return on equity of 10.01% and a net margin of 4.91%.The company had revenue of $550.85 million for the quarter, compared to analyst estimates of $525.39 million. During the same period in the prior year, the company posted $0.26 EPS. The firm’s quarterly revenue was up 32.5% compared to the same quarter last year. On average, analysts forecast that Dutch Bros will post 0.87 EPS for the current year.

Insider Activity at Dutch Bros

In related news, Director Todd Penegor bought 2,000 shares of the stock in a transaction dated Thursday, August 13th. The shares were purchased at an average price of $51.56 per share, for a total transaction of $103,120.00. Following the completion of the purchase, the director directly owned 7,358 shares of the company’s stock, valued at $379,378.48. This represents a 37.33% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 38.90% of the stock is owned by insiders.

Institutional Trading of Dutch Bros

A number of hedge funds have recently modified their holdings of the stock. D.A. Davidson & CO. raised its holdings in Dutch Bros by 0.4% in the 1st quarter. D.A. Davidson & CO. now owns 57,042 shares of the company’s stock worth $2,890,000 after purchasing an additional 211 shares during the period. AdvisorShares Investments LLC raised its holdings in Dutch Bros by 7.2% in the 4th quarter. AdvisorShares Investments LLC now owns 3,164 shares of the company’s stock worth $194,000 after purchasing an additional 212 shares during the period. Arizona State Retirement System lifted its position in shares of Dutch Bros by 0.7% in the second quarter. Arizona State Retirement System now owns 35,124 shares of the company’s stock valued at $2,522,000 after acquiring an additional 238 shares in the last quarter. Nemes Rush Group LLC lifted its position in shares of Dutch Bros by 25.9% in the fourth quarter. Nemes Rush Group LLC now owns 1,360 shares of the company’s stock valued at $83,000 after acquiring an additional 280 shares in the last quarter. Finally, Brown Lisle Cummings Inc. grew its stake in Dutch Bros by 63.8% during the 1st quarter. Brown Lisle Cummings Inc. now owns 819 shares of the company’s stock valued at $41,000 after acquiring an additional 319 shares in the last quarter. Hedge funds and other institutional investors own 85.54% of the company’s stock.

About Dutch Bros

Dutch Bros Inc is a drive-thru beverage company that operates and franchises coffee shops across the United States. Founded in 1992 by brothers Dane and Travis Boersma in Grants Pass, Oregon, the company has expanded from a single coffee cart into a national chain with locations in more than 20 states.

Dutch Bros’ menu includes specialty espresso-based coffees, cold brew, teas, Dutch Bros Blue Rebel energy drinks, smoothies, lemonades, sodas and other flavored beverages. Its shops emphasize drive-thru convenience, customizable drinks and customer-focused service, with some locations also offering walk-up windows or limited indoor seating.

The company combines company-operated shops with franchised locations, although its growth strategy has increasingly emphasized company-operated stores.