Robert W. Baird Upgrades Dutch Bros (NYSE:BROS) to Outperform

Dutch Bros (NYSE:BROS) was upgraded by equities research analysts at Robert W. Baird from a “neutral” rating to an “outperform” rating in a research report issued to clients and investors on Monday,Finviz reports. The brokerage currently has a $70.00 target price on the stock, up from their prior target price of $60.00. Robert W. Baird’s price objective indicates a potential upside of 24.22% from the company’s previous close.

Other equities research analysts have also issued research reports about the stock. William Blair reissued an “outperform” rating on shares of Dutch Bros in a research note on Tuesday, December 17th. Jefferies Financial Group lifted their price objective on Dutch Bros from $45.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, December 16th. Piper Sandler upped their target price on Dutch Bros from $36.00 to $51.00 and gave the stock a “neutral” rating in a research report on Monday, November 11th. Wedbush lifted their price target on Dutch Bros from $45.00 to $55.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Finally, TD Cowen increased their price objective on Dutch Bros from $47.00 to $53.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.45.

Dutch Bros Stock Performance

Shares of Dutch Bros stock opened at $56.35 on Monday. The stock has a market cap of $8.69 billion, a PE ratio of 194.32, a price-to-earnings-growth ratio of 3.89 and a beta of 2.72. Dutch Bros has a 12 month low of $25.46 and a 12 month high of $58.10. The company has a quick ratio of 1.68, a current ratio of 1.90 and a debt-to-equity ratio of 0.79. The business has a fifty day simple moving average of $49.24 and a 200-day simple moving average of $40.19.

Dutch Bros (NYSE:BROS) last issued its earnings results on Wednesday, November 6th. The company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.04. The company had revenue of $338.20 million for the quarter, compared to the consensus estimate of $324.97 million. Dutch Bros had a return on equity of 5.48% and a net margin of 2.54%. The firm’s quarterly revenue was up 27.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.08 EPS. On average, sell-side analysts anticipate that Dutch Bros will post 0.39 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Dm Individual Aggregator, Llc sold 40,323 shares of Dutch Bros stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $36.03, for a total value of $1,452,837.69. Following the transaction, the insider now directly owns 125,671 shares in the company, valued at approximately $4,527,926.13. The trade was a 24.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Travis Boersma sold 38,339 shares of the stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $33.48, for a total value of $1,283,589.72. Following the sale, the chairman now owns 15,610 shares of the company’s stock, valued at approximately $522,622.80. The trade was a 71.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 560,698 shares of company stock valued at $19,040,697 over the last 90 days. 46.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Dutch Bros

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Jamison Private Wealth Management Inc. grew its position in Dutch Bros by 150.2% during the third quarter. Jamison Private Wealth Management Inc. now owns 833 shares of the company’s stock worth $27,000 after buying an additional 500 shares in the last quarter. Hollencrest Capital Management lifted its position in shares of Dutch Bros by 52.3% in the 3rd quarter. Hollencrest Capital Management now owns 914 shares of the company’s stock worth $29,000 after acquiring an additional 314 shares during the period. Quest Partners LLC grew its holdings in shares of Dutch Bros by 3,321.7% during the 2nd quarter. Quest Partners LLC now owns 787 shares of the company’s stock worth $33,000 after purchasing an additional 764 shares in the last quarter. Point72 Hong Kong Ltd bought a new stake in shares of Dutch Bros during the third quarter valued at approximately $36,000. Finally, nVerses Capital LLC acquired a new position in shares of Dutch Bros in the third quarter valued at $38,000. Institutional investors and hedge funds own 85.54% of the company’s stock.

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.