Roth Mkm Reiterates Neutral Rating for BRC (NYSE:BRCC)

Roth Mkm reaffirmed their neutral rating on shares of BRC (NYSE:BRCC) in a research report sent to investors on Wednesday,Benzinga reports. They currently have a $3.50 price target on the stock, down from their previous price target of $4.00.

A number of other research firms also recently commented on BRCC. Telsey Advisory Group reiterated an “outperform” rating and set a $6.00 target price on shares of BRC in a research report on Thursday, October 31st. DA Davidson reissued a “buy” rating and issued a $5.50 price objective on shares of BRC in a research note on Wednesday, September 18th. Finally, Roth Capital cut shares of BRC from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 9th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $6.50.

BRC Price Performance

Shares of NYSE BRCC traded down $0.07 during trading on Wednesday, hitting $3.13. 246,391 shares of the company were exchanged, compared to its average volume of 896,338. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.07 and a quick ratio of 0.59. BRC has a 1 year low of $2.60 and a 1 year high of $7.14. The company has a market cap of $665.20 million, a price-to-earnings ratio of -39.25 and a beta of 1.16. The firm’s fifty day moving average price is $3.48 and its 200 day moving average price is $4.65.

BRC (NYSE:BRCC) last issued its earnings results on Monday, November 4th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.01. The company had revenue of $98.20 million during the quarter, compared to analysts’ expectations of $95.06 million. BRC had a negative net margin of 1.22% and a positive return on equity of 23.81%. During the same period last year, the company posted ($0.05) earnings per share. On average, sell-side analysts expect that BRC will post -0.02 earnings per share for the current fiscal year.

Insider Buying and Selling

In other BRC news, Director Evan Hafer sold 3,000,000 shares of the company’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $3.20, for a total value 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 Evan Hafer sold 3,000,000 shares of the business’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $3.20, for a total value of $9,600,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Thomas E. Davin sold 10,884 shares of BRC stock in a transaction on 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 sale, the director now directly owns 15,851 shares of the company’s stock, valued at approximately $60,392.31. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,010,884 shares of company stock worth $12,811,468. 73.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On BRC

Several hedge funds have recently modified their holdings of BRCC. Smith Thornton Advisors LLC purchased a new stake in shares of BRC during the 3rd quarter worth about $45,000. United Asset Strategies Inc. purchased a new position in BRC in the third quarter valued at about $50,000. Riverwater Partners LLC purchased a new stake in shares of BRC in the third quarter worth about $1,091,000. Creative Planning purchased a new stake in shares of BRC during the third quarter valued at approximately $192,000. Finally, The Manufacturers Life Insurance Company lifted its position in shares of BRC by 32.9% during the second quarter. The Manufacturers Life Insurance Company now owns 20,464 shares of the company’s stock worth $125,000 after purchasing an additional 5,064 shares in the last quarter. 16.29% of the stock is owned by institutional investors and hedge funds.

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.