BRC (NYSE:BRCC) Receives Buy Rating from DA Davidson

BRC (NYSE:BRCC)‘s stock had its “buy” rating reiterated by investment analysts at DA Davidson in a research note issued to investors on Thursday,Benzinga reports. They currently have a $2.50 target price on the stock. DA Davidson’s price objective points to a potential upside of 130.41% from the stock’s current price.

A number of other equities research analysts also recently commented on BRCC. Wall Street Zen raised BRC from a “hold” rating to a “buy” rating in a research report on Saturday, May 23rd. Weiss Ratings upgraded BRC from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, June 12th. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, BRC has a consensus rating of “Hold” and a consensus price target of $2.50.

BRC Stock Performance

Shares of BRC stock traded up $0.01 on Thursday, reaching $1.08. 125,183 shares of the stock were exchanged, compared to its average volume of 1,109,585. BRC has a 1-year low of $0.60 and a 1-year high of $2.10. The company has a current ratio of 1.36, a quick ratio of 0.74 and a debt-to-equity ratio of 0.46. The business has a fifty day moving average price of $1.36 and a two-hundred day moving average price of $1.06. The firm has a market capitalization of $270.71 million, a PE ratio of -10.85 and a beta of 1.25.

BRC (NYSE:BRCC) last announced its quarterly earnings data on Monday, May 4th. The company reported $0.00 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.01. The firm had revenue of $109.23 million during the quarter, compared to the consensus estimate of $96.95 million. BRC had a negative net margin of 2.17% and a negative return on equity of 14.55%.

Insider Buying and Selling at BRC

In other BRC news, insider Evan Hafer sold 2,000,000 shares of the firm’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $1.49, for a total value of $2,980,000.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. 54.87% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On BRC

A number of hedge funds and other institutional investors have recently modified their holdings of BRCC. Engineers Gate Manager LP acquired a new stake in BRC during the second quarter valued at $27,000. Virtu Financial LLC increased its holdings in BRC by 82.2% in the third quarter. Virtu Financial LLC now owns 21,037 shares of the company’s stock worth $33,000 after buying an additional 9,492 shares during the last quarter. Kestra Private Wealth Services LLC acquired a new position in BRC in the fourth quarter worth approximately $26,000. BNP Paribas Financial Markets raised its position in BRC by 312.6% during the third quarter. BNP Paribas Financial Markets now owns 27,016 shares of the company’s stock valued at $42,000 after acquiring an additional 20,469 shares in the last quarter. Finally, Invesco Ltd. raised its position in BRC by 96.1% during the fourth quarter. Invesco Ltd. now owns 30,140 shares of the company’s stock valued at $33,000 after acquiring an additional 14,769 shares in the last quarter. Institutional investors and hedge funds 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.