BRC’s (BRCC) “Buy” Rating Reiterated at DA Davidson

DA Davidson reissued their buy rating on shares of BRC (NYSE:BRCC) in a report published on Wednesday morning,Benzinga reports. The brokerage currently has a $3.00 price objective on the stock.

Several other analysts have also commented on the stock. Telsey Advisory Group set a $4.00 price target on shares of BRC in a research report on Wednesday, March 5th. Roth Capital set a $2.50 price target on shares of BRC in a research report on Wednesday, March 5th. Finally, Roth Mkm reissued a “neutral” rating and set a $2.50 price target (down from $3.50) on shares of BRC in a research report on Wednesday, March 5th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $4.60.

BRC Stock Performance

BRCC stock opened at $2.19 on Wednesday. The firm has a market cap of $465.50 million, a price-to-earnings ratio of -27.31 and a beta of 1.09. The firm has a 50-day simple moving average of $2.54 and a two-hundred day simple moving average of $2.99. BRC has a one year low of $1.93 and a one year high of $7.14. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.58 and a current ratio of 1.14.

Hedge Funds Weigh In On BRC

Hedge funds have recently modified their holdings of the stock. Engaged Capital LLC increased its holdings in shares of BRC by 5.3% during the third quarter. Engaged Capital LLC now owns 13,535,560 shares of the company’s stock valued at $46,292,000 after acquiring an additional 684,542 shares in the last quarter. QVIDTVM Management LLC increased its holdings in BRC by 24.2% in the 3rd quarter. QVIDTVM Management LLC now owns 3,219,929 shares of the company’s stock worth $11,012,000 after buying an additional 627,653 shares during the period. Verition Fund Management LLC increased its holdings in BRC by 4,294.3% in the 3rd quarter. Verition Fund Management LLC now owns 497,211 shares of the company’s stock worth $1,700,000 after buying an additional 485,896 shares during the period. Barclays PLC increased its holdings in BRC by 325.9% in the 3rd quarter. Barclays PLC now owns 74,967 shares of the company’s stock worth $257,000 after buying an additional 57,366 shares during the period. Finally, Sanctuary Advisors LLC acquired a new position in BRC in the 4th quarter worth approximately $61,000. Institutional investors and hedge funds 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.