BRC Inc. (NYSE:BRCC) Receives Average Recommendation of “Moderate Buy” from Brokerages

BRC Inc. (NYSE:BRCC) has received a consensus rating of “Moderate Buy” from the six ratings firms that are currently covering the company, Marketbeat reports. Three analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $6.50.

Several equities research analysts recently commented on the stock. DA Davidson reiterated a “buy” rating and set a $5.50 target price on shares of BRC in a research report on Wednesday, September 18th. Roth Capital cut shares of BRC from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 9th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $6.00 target price on shares of BRC in a research report on Thursday, October 31st. Finally, Roth Mkm reiterated a “neutral” rating and issued a $3.50 price target (down previously from $4.00) on shares of BRC in a research report on Wednesday, November 6th.

BRC Stock Performance

NYSE BRCC opened at $2.96 on Wednesday. The firm’s fifty day moving average price is $3.27 and its two-hundred day moving average price is $4.59. The stock has a market cap of $628.66 million, a PE ratio of -36.94 and a beta of 1.16. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.58 and a current ratio of 1.14. BRC has a fifty-two week low of $2.78 and a fifty-two week high of $7.14.

BRC (NYSE:BRCC) last issued its earnings results on Monday, November 4th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.01. BRC had a positive return on equity of 23.35% and a negative net margin of 1.22%. The business had revenue of $98.20 million during the quarter, compared to analysts’ expectations of $95.06 million. During the same quarter in the prior year, the firm earned ($0.05) EPS. On average, equities analysts expect that BRC will post -0.02 EPS for the current fiscal year.

Insider Activity at BRC

In other news, Director Thomas E. Davin sold 10,884 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $3.81, for a total transaction of $41,468.04. Following the completion of the sale, the director now owns 15,851 shares of the company’s stock, valued at $60,392.31. This trade represents a 40.71 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Evan Hafer sold 3,000,000 shares of the business’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $3.20, for a total transaction of $9,600,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 4,010,884 shares of company stock worth $12,811,468 over the last quarter. Company insiders own 73.80% of the company’s stock.

Hedge Funds Weigh In On BRC

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Barclays PLC increased its position in BRC by 325.9% in the 3rd quarter. Barclays PLC now owns 74,967 shares of the company’s stock valued at $257,000 after buying an additional 57,366 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of BRC by 0.9% during the third quarter. Geode Capital Management LLC now owns 1,073,638 shares of the company’s stock valued at $3,673,000 after acquiring an additional 10,100 shares in the last quarter. State Street Corp raised its position in shares of BRC by 3.2% during the third quarter. State Street Corp now owns 955,717 shares of the company’s stock worth $3,269,000 after purchasing an additional 29,596 shares during the period. Quadrature Capital Ltd bought a new position in shares of BRC in the 3rd quarter worth $75,000. Finally, HighTower Advisors LLC grew its position in BRC by 153.4% in the 3rd quarter. HighTower Advisors LLC now owns 27,521 shares of the company’s stock valued at $91,000 after purchasing an additional 16,661 shares during the period. Institutional investors own 16.29% of the company’s stock.

About BRC

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.