Dutch Bros (NYSE:BROS) Upgraded to “Buy” by Guggenheim

Guggenheim upgraded shares of Dutch Bros (NYSE:BROS) from a neutral rating to a buy rating in a research note issued to investors on Thursday, Marketbeat reports.

A number of other equities analysts also recently weighed in on the company. JPMorgan Chase & Co. boosted their price target on Dutch Bros from $40.00 to $44.00 and gave the stock an overweight rating in a research report on Monday, June 3rd. Stifel Nicolaus decreased their price target on shares of Dutch Bros from $40.00 to $38.00 and set a buy rating on the stock in a report on Thursday. TD Cowen decreased their price target on shares of Dutch Bros from $50.00 to $47.00 and set a buy rating on the stock in a report on Thursday. Barclays lifted their target price on shares of Dutch Bros from $30.00 to $35.00 and gave the stock an equal weight rating in a research report on Wednesday, May 8th. Finally, Wedbush reiterated an outperform rating and set a $45.00 target price on shares of Dutch Bros in a research report on Thursday. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Dutch Bros has an average rating of Moderate Buy and a consensus target price of $38.82.

Dutch Bros Price Performance

BROS stock traded down $0.73 during midday trading on Thursday, reaching $29.49. 6,775,500 shares of the company’s stock traded hands, compared to its average volume of 2,676,672. The company has a 50-day simple moving average of $39.01 and a two-hundred day simple moving average of $33.75. The company has a market cap of $5.23 billion, a price-to-earnings ratio of 163.83, a PEG ratio of 4.71 and a beta of 2.53. Dutch Bros has a 1-year low of $22.67 and a 1-year high of $43.49. The company has a quick ratio of 1.98, a current ratio of 2.29 and a debt-to-equity ratio of 0.86.

Dutch Bros (NYSE:BROS) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.06. The business had revenue of $324.92 million for the quarter, compared to analyst estimates of $317.39 million. Dutch Bros had a return on equity of 1.99% and a net margin of 1.21%. The firm’s revenue was up 30.0% on a year-over-year basis. During the same period last year, the company earned $0.07 EPS. On average, analysts anticipate that Dutch Bros will post 0.3 earnings per share for the current year.

Insider Buying and Selling at Dutch Bros

In other Dutch Bros news, Chairman Travis Boersma sold 334,069 shares of the company’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $36.85, for a total transaction of $12,310,442.65. Following the sale, the chairman now directly owns 871,764 shares of the company’s stock, valued at $32,124,503.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Chairman Travis Boersma sold 334,069 shares of the stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $36.85, for a total value of $12,310,442.65. Following the sale, the chairman now directly owns 871,764 shares of the company’s stock, valued at $32,124,503.40. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Dm Trust Aggregator, Llc sold 27,135 shares of the stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $36.02, for a total transaction of $977,402.70. Following the completion of the sale, the insider now directly owns 2,116,783 shares in the company, valued at $76,246,523.66. The disclosure for this sale can be found here. Insiders have sold a total of 1,228,068 shares of company stock valued at $44,765,154 over the last three months. 46.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Dutch Bros

Institutional investors and hedge funds have recently modified their holdings of the company. Savoir Faire Capital Management L.P. bought a new position in shares of Dutch Bros in the second quarter worth approximately $1,242,000. Renaissance Technologies LLC bought a new position in shares of Dutch Bros in the second quarter worth approximately $57,435,000. Dimensional Fund Advisors LP increased its position in shares of Dutch Bros by 257.9% in the second quarter. Dimensional Fund Advisors LP now owns 154,598 shares of the company’s stock worth $6,401,000 after purchasing an additional 111,398 shares during the last quarter. Abound Wealth Management bought a new position in shares of Dutch Bros in the second quarter worth approximately $39,000. Finally, Redwood Wealth Management Group LLC bought a new position in shares of Dutch Bros in the second quarter worth approximately $72,000. 85.54% of the stock is owned by hedge funds and other institutional investors.

About Dutch Bros

Dutch Bros Inc, together with its subsidiaries, operates and franchises drive-thru shops in the United States. The company operates through Company-Operated Shops and Franchising and Other segments. It serves through company-operated shops and online channels under Dutch Bros; Dutch Bros Coffee; Dutch Bros Rebel; Dutch Bros; and Blue Rebel brands.