Black Rock Coffee Bar (NASDAQ:BRCB) Stock Dropped to Strong Sell by Zacks Research

Black Rock Coffee Bar (NASDAQ:BRCB) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued on Thursday, Zacks reports.

BRCB has been the topic of several other reports. DA Davidson decreased their price objective on shares of Black Rock Coffee Bar from $15.00 to $10.00 and set a “buy” rating on the stock in a report on Wednesday, August 12th. Weiss Ratings upgraded shares of Black Rock Coffee Bar from a “sell (d-)” rating to a “sell (d)” rating in a report on Friday, October 2nd. Raymond James Financial set a $13.00 target price on Black Rock Coffee Bar in a research report on Wednesday, August 12th. Robert W. Baird restated a “neutral” rating and set a $10.00 price target (down from $12.00) on shares of Black Rock Coffee Bar in a research note on Monday, August 24th. Finally, Morgan Stanley lowered Black Rock Coffee Bar from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $22.00 to $9.00 in a research report on Wednesday, July 15th. Three equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Black Rock Coffee Bar presently has a consensus rating of “Hold” and a consensus price target of $11.50.

Black Rock Coffee Bar Trading Down 2.4%

BRCB traded down $0.20 on Thursday, hitting $8.07. The company had a trading volume of 539,290 shares, compared to its average volume of 286,790. The company’s fifty day moving average price is $8.03 and its 200 day moving average price is $8.91. Black Rock Coffee Bar has a 1 year low of $6.11 and a 1 year high of $26.48. The company has a current ratio of 0.71, a quick ratio of 0.62 and a debt-to-equity ratio of 0.27. The firm has a market cap of $404.06 million and a P/E ratio of 115.30.

Black Rock Coffee Bar (NASDAQ:BRCB) last announced its earnings results on Tuesday, August 11th. The company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.01). Black Rock Coffee Bar had a return on equity of 1.46% and a net margin of 0.69%. The company had revenue of $63.00 million for the quarter. As a group, equities analysts expect that Black Rock Coffee Bar will post 0.20 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of New York Mellon Corp increased 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 purchasing an additional 387,553 shares during the period. Emerald Advisers LLC raised its holdings in Black Rock Coffee Bar by 22.4% in the first quarter. Emerald Advisers LLC now owns 749,626 shares of the company’s stock valued at $9,685,000 after acquiring an additional 137,133 shares in the last quarter. Jennison Associates LLC lifted its stake in Black Rock Coffee Bar by 59.9% in the first quarter. Jennison Associates LLC now owns 583,806 shares of the company’s stock worth $7,543,000 after acquiring an additional 218,692 shares during the last quarter. Emerald Mutual Fund Advisers Trust lifted its stake in 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 worth $5,862,000 after acquiring an additional 101,945 shares during the last quarter. Finally, Peregrine Capital Management LLC lifted its stake in Black Rock Coffee Bar by 22.0% in the first quarter. Peregrine Capital Management LLC now owns 331,702 shares of the company’s stock worth $4,286,000 after acquiring an additional 59,712 shares during the last quarter.

Black Rock Coffee Bar Company Profile

Black Rock Coffee Bar, Inc operates a chain of specialty coffee shops under the Black Rock Coffee Bar brand. The company primarily serves beverages through drive-thru and café locations, with a menu that includes coffee, espresso-based drinks, teas, blended beverages, energy drinks and other specialty refreshments.

In addition to beverages, Black Rock Coffee Bar offers food and snack items such as breakfast selections, pastries and other grab-and-go products. Its locations are designed to provide convenient service for customers seeking handcrafted drinks and light food options.

Founded in 2008, the company was established by Jeff Hernandez and Daniel Brand and is headquartered in Portland, Oregon.