Dutch Bros (NYSE:BROS) Raised to Strong-Buy at Zacks Research

Dutch Bros (NYSE:BROS) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Thursday,Zacks.com reports.

Several other research analysts have also recently weighed in on the stock. TD Cowen restated a “buy” rating and issued a $86.00 price objective on shares of Dutch Bros in a research report on Tuesday, August 19th. Morgan Stanley upped their price objective on shares of Dutch Bros from $84.00 to $86.00 and gave the stock an “overweight” rating in a research report on Tuesday. Weiss Ratings reiterated a “hold (c)” rating on shares of Dutch Bros in a research report on Friday. Wells Fargo & Company reduced their price target on shares of Dutch Bros from $80.00 to $70.00 and set an “overweight” rating on the stock in a research report on Thursday, October 16th. Finally, Guggenheim increased their price target on shares of Dutch Bros from $72.00 to $76.00 and gave the company a “buy” rating in a research report on Thursday, August 7th. Three analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $77.82.

Dutch Bros Trading Down 0.3%

Shares of Dutch Bros stock opened at $56.98 on Thursday. Dutch Bros has a 12-month low of $32.68 and a 12-month high of $86.88. The company has a market cap of $9.37 billion, a price-to-earnings ratio of 121.24, a PEG ratio of 3.14 and a beta of 2.55. The company has a current ratio of 1.64, a quick ratio of 1.42 and a debt-to-equity ratio of 0.69. The company’s 50-day moving average price is $59.73 and its 200-day moving average price is $63.12.

Dutch Bros (NYSE:BROS) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.08. Dutch Bros had a net margin of 3.94% and a return on equity of 8.86%. The firm had revenue of $415.81 million for the quarter, compared to the consensus estimate of $403.24 million. During the same period in the prior year, the firm posted $0.19 earnings per share. The company’s revenue for the quarter was up 28.0% on a year-over-year basis. On average, equities analysts expect that Dutch Bros will post 0.57 earnings per share for the current fiscal year.

Insider Buying and Selling at Dutch Bros

In related news, major shareholder Dm Individual Aggregator, Llc sold 482,750 shares of Dutch Bros stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $65.17, for a total value of $31,460,817.50. Following the sale, the insider owned 1,279,144 shares in the company, valued at $83,361,814.48. The trade was a 27.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Travis Boersma sold 787,681 shares of Dutch Bros stock in a transaction on Monday, August 25th. The shares were sold at an average price of $68.94, for a total transaction of $54,302,728.14. Following the completion of the sale, the chairman owned 975,031 shares in the company, valued at approximately $67,218,637.14. This trade represents a 44.69% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,161,101 shares of company stock worth $207,633,882. 42.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Dutch Bros

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Blair William & Co. IL lifted its position in Dutch Bros by 27.6% during the second quarter. Blair William & Co. IL now owns 228,604 shares of the company’s stock valued at $15,630,000 after buying an additional 49,501 shares during the period. Joule Financial LLC purchased a new position in Dutch Bros during the second quarter valued at $724,000. Berkshire Capital Holdings Inc. purchased a new position in Dutch Bros during the first quarter valued at $6,438,000. Jump Financial LLC lifted its position in Dutch Bros by 47.3% during the first quarter. Jump Financial LLC now owns 223,771 shares of the company’s stock valued at $13,816,000 after buying an additional 71,834 shares during the period. Finally, Total Clarity Wealth Management Inc. purchased a new position in Dutch Bros during the second quarter valued at $850,000. Hedge funds and other institutional investors own 85.54% of the company’s stock.

Dutch Bros Company Profile

Dutch Bros Inc, together with its subsidiaries, operates and franchises drive-thru shops in the United States. The company operates through Company-Operated Shops and Franchising and Other segments. It serves through company-operated shops and online channels under Dutch Bros; Dutch Bros Coffee; Dutch Bros Rebel; Dutch Bros; and Blue Rebel brands.