DA Davidson Forecasts Strong Price Appreciation for BRC (NYSE:BRCC) Stock

BRC (NYSE:BRCC) had its price objective boosted by stock analysts at DA Davidson from $2.50 to $25.00 in a research report issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. DA Davidson’s price objective points to a potential upside of 193.43% from the company’s previous close.

Several other brokerages have also recently commented on BRCC. Wall Street Zen upgraded shares of BRC from a “hold” rating to a “buy” rating in a report on Saturday, May 23rd. Craig Hallum began coverage on shares of BRC in a research report on Monday, August 3rd. They issued a “buy” rating and a $17.50 price target for the company. Finally, Weiss Ratings cut shares of BRC from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, August 4th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $22.50.

BRC Price Performance

NYSE:BRCC opened at $8.52 on Monday. The company has a quick ratio of 0.80, a current ratio of 1.42 and a debt-to-equity ratio of 0.40. The business’s 50-day moving average price is $10.56 and its 200 day moving average price is $10.60. BRC has a 52-week low of $6.00 and a 52-week high of $18.55. The firm has a market cap of $213.26 million, a P/E ratio of -28.40 and a beta of 1.25.

Insider Activity at BRC

In other BRC news, Director Stephen M. Kadenacy sold 10,500 shares of BRC stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $8.20, for a total value of $86,100.00. Following the completion of the sale, the director directly owned 23,495 shares in the company, valued at $192,659. The trade was a 30.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 54.87% of the company’s stock.

Institutional Investors Weigh In On BRC

Several institutional investors and hedge funds have recently modified their holdings of the business. Zazove Associates LLC raised its holdings in BRC by 270.7% during the first quarter. Zazove Associates LLC now owns 2,000,000 shares of the company’s stock valued at $1,552,000 after buying an additional 1,460,546 shares in the last quarter. Bank of America Corp DE boosted its holdings in shares of BRC by 9.2% during the 1st quarter. Bank of America Corp DE now owns 142,209 shares of the company’s stock worth $110,000 after buying an additional 11,933 shares during the period. Renaissance Technologies LLC bought a new position in BRC in the 1st quarter worth $232,000. Modera Wealth Management LLC acquired a new stake in shares of BRC in the first quarter valued at about $78,000. Finally, Kestra Advisory Services LLC increased its stake in shares of BRC by 63.0% in the first quarter. Kestra Advisory Services LLC now owns 69,001 shares of the company’s stock worth $54,000 after purchasing an additional 26,672 shares during the period. 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.