Brokerages Set Black Rock Coffee Bar, Inc. (NASDAQ:BRCB) Target Price at $11.50

Shares of Black Rock Coffee Bar, Inc. (NASDAQ:BRCB) have been assigned an average recommendation of “Hold” from the eight ratings firms that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $11.50.

A number of research analysts have recently issued reports on BRCB shares. Raymond James Financial set a $13.00 target price on shares of Black Rock Coffee Bar in a research note on Wednesday, August 12th. Wall Street Zen upgraded Black Rock Coffee Bar from a “sell” rating to a “hold” rating in a research report on Sunday, June 7th. DA Davidson cut their price target on Black Rock Coffee Bar from $15.00 to $10.00 and set a “buy” rating for the company in a report on Wednesday, August 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Black Rock Coffee Bar in a research report on Tuesday, September 8th. Finally, Piper Sandler initiated coverage on shares of Black Rock Coffee Bar in a report on Monday, June 8th. They set a “neutral” rating and a $9.00 price objective on the stock.

Black Rock Coffee Bar Stock Performance

BRCB stock opened at $7.29 on Tuesday. The firm has a 50 day simple moving average of $8.30 and a 200 day simple moving average of $9.98. Black Rock Coffee Bar has a 52 week low of $6.11 and a 52 week high of $26.99. The stock has a market cap of $365.01 million and a P/E ratio of 104.16. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.62 and a current ratio of 0.71.

Black Rock Coffee Bar (NASDAQ:BRCB) last issued its quarterly earnings results on Tuesday, August 11th. The company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.01). Black Rock Coffee Bar had a net margin of 0.69% and a return on equity of 1.46%. The firm had revenue of $63.00 million for the quarter. Research analysts anticipate that Black Rock Coffee Bar will post 0.21 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Black Rock Coffee Bar

Institutional investors have recently modified their holdings of the business. Bank of New York Mellon Corp grew its holdings in Black Rock Coffee Bar by 50.1% during the 1st quarter. Bank of New York Mellon Corp now owns 1,161,703 shares of the company’s stock worth $15,009,000 after acquiring an additional 387,553 shares during the period. Emerald Advisers LLC increased its position in shares of Black Rock Coffee Bar by 22.4% during the first quarter. Emerald Advisers LLC now owns 749,626 shares of the company’s stock worth $9,685,000 after acquiring an additional 137,133 shares in the last quarter. Jennison Associates LLC grew its holdings in shares of Black Rock Coffee Bar by 59.9% during the first quarter. Jennison Associates LLC now owns 583,806 shares of the company’s stock worth $7,543,000 after buying an additional 218,692 shares in the last quarter. Emerald Mutual Fund Advisers Trust raised its holdings in shares of Black Rock Coffee Bar by 29.0% in the first quarter. Emerald Mutual Fund Advisers Trust now owns 453,734 shares of the company’s stock valued at $5,862,000 after purchasing an additional 101,945 shares during the last quarter. Finally, Peregrine Capital Management LLC boosted its position in Black Rock Coffee Bar by 22.0% during the first quarter. Peregrine Capital Management LLC now owns 331,702 shares of the company’s stock valued at $4,286,000 after purchasing an additional 59,712 shares during the last quarter.

Black Rock Coffee Bar Company Profile

Black Rock Coffee Bar is a specialty coffee company that operates a network of drive-thru and café locations in the United States. The company focuses on convenient service and a menu built around coffee and other handcrafted beverages.

Its offerings include espresso-based drinks, brewed coffee, cold and iced beverages, teas, smoothies, energy drinks and food items such as pastries and breakfast products. Black Rock also sells branded merchandise and packaged coffee through its retail operations and digital channels.

Founded in 2008 and based in Portland, Oregon, Black Rock Coffee Bar has expanded primarily across western U.S.