BRC Inc. (NYSE:BRCC) Receives $6.50 Consensus Target Price from Analysts

Shares of BRC Inc. (NYSE:BRCC) have been given a consensus rating of “Moderate Buy” by the six ratings firms that are presently covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $6.50.

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

Insider Activity

In related news, Director Thomas E. Davin sold 10,884 shares of the business’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 value of $41,468.04. Following the completion of the sale, the director now directly owns 15,851 shares in the company, valued at approximately $60,392.31. The trade was a 40.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Evan Hafer sold 1,000,000 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $3.17, for a total transaction of $3,170,000.00. 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 over the last quarter. Company insiders own 73.80% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Engaged Capital LLC raised its holdings in BRC by 5.3% in the third quarter. Engaged Capital LLC now owns 13,535,560 shares of the company’s stock valued at $46,292,000 after buying an additional 684,542 shares during the period. Blair William & Co. IL increased its position in shares of BRC by 370.2% in the second quarter. Blair William & Co. IL now owns 802,710 shares of the company’s stock worth $4,921,000 after acquiring an additional 632,000 shares in the last quarter. QVIDTVM Management LLC raised its stake in shares of BRC by 24.2% in the 3rd quarter. QVIDTVM Management LLC now owns 3,219,929 shares of the company’s stock valued at $11,012,000 after acquiring an additional 627,653 shares during the period. Verition Fund Management LLC lifted its holdings in shares of BRC by 4,294.3% during the 3rd quarter. Verition Fund Management LLC now owns 497,211 shares of the company’s stock valued at $1,700,000 after acquiring an additional 485,896 shares in the last quarter. Finally, Marshall Wace LLP boosted its position in BRC by 76.4% during the 2nd quarter. Marshall Wace LLP now owns 812,373 shares of the company’s stock worth $4,980,000 after purchasing an additional 351,757 shares during the period. 16.29% of the stock is owned by hedge funds and other institutional investors.

BRC Price Performance

Shares of NYSE:BRCC opened at $3.02 on Wednesday. BRC has a 12 month low of $2.78 and a 12 month high of $7.14. The firm has a market capitalization of $642.48 million, a price-to-earnings ratio of -37.75 and a beta of 1.16. The business’s 50 day simple moving average is $3.25 and its 200-day simple moving average is $4.57. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.14 and a quick ratio of 0.58.

BRC (NYSE:BRCC) last posted its earnings results on Monday, November 4th. The company reported ($0.01) earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $98.20 million for the quarter, compared to analyst estimates of $95.06 million. During the same quarter in the prior year, the company earned ($0.05) earnings per share. As a group, equities analysts forecast that BRC will post -0.02 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.