Analysts Set BRC Inc. (NYSE:BRCC) Target Price at $7.00

BRC Inc. (NYSE:BRCC) has earned an average recommendation of “Moderate Buy” from the six research firms that are covering the firm, MarketBeat reports. Three analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $6.63.

Several equities analysts recently weighed in on BRCC shares. Telsey Advisory Group cut their price target on shares of BRC from $8.00 to $6.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. Roth Capital lowered BRC from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 9th. Roth Mkm lowered BRC from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $8.00 to $4.00 in a research report on Friday, August 9th. Tigress Financial restated a “buy” rating and issued a $11.00 price objective on shares of BRC in a research report on Wednesday, May 22nd. Finally, Needham & Company LLC restated a “hold” rating on shares of BRC in a research report on Thursday, May 16th.

BRC Stock Performance

BRCC opened at $3.90 on Friday. BRC has a 52-week low of $2.51 and a 52-week high of $7.14. The firm’s 50-day moving average price is $4.97 and its 200-day moving average price is $4.97. The company has a quick ratio of 0.59, a current ratio of 1.07 and a debt-to-equity ratio of 1.01. The company has a market cap of $828.83 million, a P/E ratio of -21.67 and a beta of 1.18.

BRC (NYSE:BRCC) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.01) earnings per share for the quarter, hitting the consensus estimate of ($0.01). BRC had a negative net margin of 1.88% and a positive return on equity of 17.53%. The company had revenue of $89.02 million for the quarter, compared to the consensus estimate of $101.54 million. During the same quarter in the prior year, the company earned ($0.03) EPS. As a group, equities analysts anticipate that BRC will post -0.02 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Comerica Bank raised its stake in BRC by 316.4% in the 1st quarter. Comerica Bank now owns 6,054 shares of the company’s stock valued at $26,000 after purchasing an additional 4,600 shares during the last quarter. nVerses Capital LLC acquired a new stake in shares of BRC during the 2nd quarter worth about $28,000. The Manufacturers Life Insurance Company increased its position in shares of BRC by 32.9% during the 2nd 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 during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of BRC during the 1st quarter worth about $45,000. Finally, Fortis Group Advisors LLC increased its position in shares of BRC by 25.0% during the 2nd quarter. Fortis Group Advisors LLC now owns 56,925 shares of the company’s stock worth $349,000 after purchasing an additional 11,388 shares during the last quarter. 16.29% of the stock is owned by institutional investors and hedge funds.

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.