Analysts Set BRC Inc. (NYSE:BRCC) Target Price at $8.00

BRC Inc. (NYSE:BRCC) has earned an average recommendation of “Moderate Buy” from the seven brokerages that are currently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $8.00.

A number of brokerages have weighed in on BRCC. Needham & Company LLC reiterated a “hold” rating on shares of BRC in a report on Thursday, May 16th. Roth Mkm reissued a “buy” rating and set a $7.00 target price (up from $6.00) on shares of BRC in a research note on Friday, May 10th. Tigress Financial restated a “buy” rating and issued a $11.00 price target on shares of BRC in a report on Wednesday, May 22nd. Finally, Telsey Advisory Group reiterated an “outperform” rating and set a $8.00 price objective on shares of BRC in a report on Wednesday.

Institutional Investors Weigh In On BRC

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Comerica Bank boosted its stake in BRC by 316.4% during the 1st quarter. Comerica Bank now owns 6,054 shares of the company’s stock valued at $26,000 after purchasing an additional 4,600 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in shares of BRC by 106.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 7,415 shares of the company’s stock valued at $27,000 after buying an additional 3,831 shares during the last quarter. Allworth Financial LP raised its position in BRC by 83.6% in the 4th quarter. Allworth Financial LP now owns 9,776 shares of the company’s stock valued at $35,000 after buying an additional 4,450 shares during the last quarter. SG Americas Securities LLC bought a new position in BRC during the 4th quarter valued at $37,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in BRC during the 1st quarter worth $45,000. 16.29% of the stock is owned by institutional investors.

BRC Trading Up 6.7 %

BRCC opened at $5.87 on Friday. The company’s 50 day moving average is $5.83 and its 200-day moving average is $4.74. The company has a market cap of $1.25 billion, a P/E ratio of -32.61 and a beta of 1.22. BRC has a 1-year low of $2.51 and a 1-year high of $7.14. The company has a current ratio of 1.07, a quick ratio of 0.51 and a debt-to-equity ratio of 1.02.

BRC (NYSE:BRCC) last issued its quarterly earnings data on Wednesday, May 8th. The company reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.04. The business had revenue of $98.39 million during the quarter, compared to analyst estimates of $97.78 million. BRC had a negative net margin of 2.78% and a positive return on equity of 14.15%. Equities research analysts predict that BRC will post 0.03 earnings per share for the current fiscal year.

BRC Company Profile

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.