Telsey Advisory Group Reiterates Outperform Rating for BRC (NYSE:BRCC)

BRC (NYSE:BRCC)‘s stock had its “outperform” rating reaffirmed by research analysts at Telsey Advisory Group in a research report issued on Monday, Benzinga reports. They currently have a $8.00 target price on the stock. Telsey Advisory Group’s price objective would suggest a potential upside of 92.08% from the company’s current price.

BRC Stock Performance

Shares of NYSE:BRCC opened at $4.17 on Monday. The firm’s 50 day simple moving average is $4.33 and its 200-day simple moving average is $3.98. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.61 and a current ratio of 1.28. BRC has a one year low of $2.51 and a one year high of $5.85. The firm has a market cap of $883.60 million, a PE ratio of -15.43 and a beta of 1.01.

BRC (NYSE:BRCC) last released its quarterly earnings data on Wednesday, March 6th. The company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.20. The firm had revenue of $119.65 million for the quarter, compared to the consensus estimate of $124.38 million. BRC had a negative net margin of 4.23% and a positive return on equity of 4.11%. As a group, equities analysts predict that BRC will post -0.01 EPS for the current year.

Institutional Investors Weigh In On BRC

Several hedge funds have recently added to or reduced their stakes in BRCC. Hollencrest Capital Management grew its stake in BRC by 40.8% in the 1st quarter. Hollencrest Capital Management now owns 262,820 shares of the company’s stock valued at $1,125,000 after acquiring an additional 76,120 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new position in BRC during the first quarter valued at $45,000. Fortis Group Advisors LLC acquired a new stake in shares of BRC in the first quarter valued at about $195,000. Wesbanco Bank Inc. acquired a new stake in shares of BRC in the first quarter valued at about $659,000. Finally, Wasatch Advisors LP increased its stake in shares of BRC by 334.0% during the first quarter. Wasatch Advisors LP now owns 1,459,418 shares of the company’s stock worth $6,246,000 after purchasing an additional 1,123,157 shares in the last quarter. 16.29% of the stock is owned by hedge funds and other institutional investors.

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.