Dutch Bros (NYSE:BROS) Raised to Strong-Buy at Zacks Research

Dutch Bros (NYSE:BROS) was upgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Thursday,Zacks.com reports.

Several other analysts have also issued reports on the stock. Morgan Stanley upped their target price on shares of Dutch Bros from $84.00 to $86.00 and gave the stock an “overweight” rating in a research note on Tuesday. Melius Research upgraded shares of Dutch Bros to a “strong-buy” rating in a research note on Monday, July 14th. CICC Research initiated coverage on shares of Dutch Bros in a research note on Monday, June 30th. They issued an “outperform” rating and a $80.00 target price for the company. Royal Bank Of Canada reiterated an “outperform” rating and issued a $85.00 target price on shares of Dutch Bros in a research note on Wednesday, September 24th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Dutch Bros in a research note on Friday. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, Dutch Bros currently has a consensus rating of “Buy” and an average target price of $77.82.

Dutch Bros Stock Performance

Shares of BROS stock opened at $56.98 on Thursday. Dutch Bros has a 12 month low of $32.68 and a 12 month high of $86.88. The company has a current ratio of 1.64, a quick ratio of 1.42 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $9.37 billion, a PE ratio of 121.24, a price-to-earnings-growth ratio of 3.14 and a beta of 2.55. The firm has a fifty day simple moving average of $59.73 and a two-hundred day simple moving average of $63.12.

Dutch Bros (NYSE:BROS) last posted its earnings results on Wednesday, August 6th. The company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.08. Dutch Bros had a net margin of 3.94% and a return on equity of 8.86%. The firm had revenue of $415.81 million during the quarter, compared to analyst estimates of $403.24 million. During the same quarter in the prior year, the business posted $0.19 EPS. The business’s revenue was up 28.0% compared to the same quarter last year. Analysts forecast that Dutch Bros will post 0.57 EPS for the current fiscal year.

Insider Transactions at Dutch Bros

In other Dutch Bros news, Chairman Travis Boersma sold 1,250,371 shares of the company’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $65.17, for a total transaction of $81,486,678.07. Following the sale, the chairman directly owned 1,279,144 shares of the company’s stock, valued at $83,361,814.48. This represents a 49.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Dm Individual Aggregator, Llc sold 482,750 shares of the company’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $65.17, for a total transaction of $31,460,817.50. Following the sale, the insider directly owned 1,279,144 shares in the company, valued at approximately $83,361,814.48. This trade represents a 27.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,161,101 shares of company stock worth $207,633,882 over the last three months. 42.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Dutch Bros

Several institutional investors have recently added to or reduced their stakes in the business. Forum Financial Management LP lifted its holdings in Dutch Bros by 13.2% during the third quarter. Forum Financial Management LP now owns 6,198 shares of the company’s stock valued at $324,000 after purchasing an additional 723 shares during the last quarter. Spire Wealth Management lifted its holdings in Dutch Bros by 32.3% during the third quarter. Spire Wealth Management now owns 5,855 shares of the company’s stock valued at $306,000 after purchasing an additional 1,430 shares during the last quarter. RPG Investment Advisory LLC lifted its holdings in Dutch Bros by 126.5% during the third quarter. RPG Investment Advisory LLC now owns 15,150 shares of the company’s stock valued at $793,000 after purchasing an additional 8,460 shares during the last quarter. KLP Kapitalforvaltning AS lifted its holdings in Dutch Bros by 0.8% during the third quarter. KLP Kapitalforvaltning AS now owns 25,200 shares of the company’s stock valued at $1,319,000 after purchasing an additional 200 shares during the last quarter. Finally, Taylor Frigon Capital Management LLC lifted its holdings in Dutch Bros by 42.9% during the third quarter. Taylor Frigon Capital Management LLC now owns 47,467 shares of the company’s stock valued at $2,484,000 after purchasing an additional 14,243 shares during the last quarter. 85.54% of the stock is owned by hedge funds and other institutional investors.

Dutch Bros Company Profile

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.