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

Shares of BRC Inc. (NYSE:BRCC) have been given an average rating of “Moderate Buy” by the six brokerages that are presently covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $6.63.

Several equities research analysts have recently weighed in on the stock. Telsey Advisory Group lowered their price target on shares of BRC from $8.00 to $6.00 and set an “outperform” rating for the company in a research report on Friday, August 9th. Roth Mkm downgraded BRC from a “buy” rating to a “neutral” rating and cut their price target for the company from $8.00 to $4.00 in a report on Friday, August 9th. DA Davidson restated a “buy” rating and set a $5.50 price objective on shares of BRC in a research note on Wednesday, September 18th. Finally, Roth Capital lowered BRC from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 9th.

Insider Activity

In related news, Director Evan Hafer sold 3,000,000 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $3.20, for a total transaction of $9,600,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other BRC news, Director Thomas E. Davin sold 10,884 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $3.81, for a total value of $41,468.04. Following the completion of the transaction, the director now owns 15,851 shares in the company, valued at approximately $60,392.31. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Evan Hafer sold 3,000,000 shares of the stock in a transaction dated Wednesday, September 11th. The stock was 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 sold a total of 4,010,884 shares of company stock valued at $12,811,468 in the last quarter. 73.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On BRC

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BRCC. Wasatch Advisors LP increased its stake in shares of BRC by 334.0% during the first quarter. Wasatch Advisors LP now owns 1,459,418 shares of the company’s stock worth $6,246,000 after purchasing an additional 1,123,157 shares in the last quarter. Blair William & Co. IL boosted its holdings in BRC by 370.2% in the 2nd quarter. Blair William & Co. IL now owns 802,710 shares of the company’s stock worth $4,921,000 after buying an additional 632,000 shares during the last quarter. Maso Capital Partners Ltd purchased a new stake in BRC during the 1st quarter worth approximately $2,140,000. Marshall Wace LLP raised its holdings in shares of BRC by 76.4% during the second quarter. Marshall Wace LLP now owns 812,373 shares of the company’s stock valued at $4,980,000 after acquiring an additional 351,757 shares during the last quarter. Finally, Riverwater Partners LLC purchased a new position in shares of BRC in the third quarter valued at approximately $1,091,000. 16.29% of the stock is owned by hedge funds and other institutional investors.

BRC Trading Down 1.8 %

Shares of NYSE BRCC opened at $3.24 on Friday. BRC has a twelve month low of $2.60 and a twelve month high of $7.14. The firm has a market cap of $688.56 million, a PE ratio of -27.00 and a beta of 1.15. The business has a fifty day simple moving average of $3.65 and a two-hundred day simple moving average of $4.72. The company has a quick ratio of 0.59, a current ratio of 1.07 and a debt-to-equity ratio of 1.01.

BRC (NYSE:BRCC) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.01) earnings per share for the quarter, meeting the consensus estimate of ($0.01). BRC had a positive return on equity of 17.53% and a negative net margin of 1.88%. The firm had revenue of $89.02 million during the quarter, compared to the consensus estimate of $101.54 million. During the same period in the previous year, the company posted ($0.03) earnings per share. Analysts expect that BRC will post -0.02 earnings per share for the current fiscal year.

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.