Black Rock Coffee Bar (NASDAQ:BRCB) Stock Rating Cut to Strong Sell at Zacks Research

Zacks Research lowered shares of Black Rock Coffee Bar (NASDAQ:BRCB) from a hold rating to a strong sell rating in a report issued on Thursday,Zacks reports.

Several other research firms have also recently commented on BRCB. Raymond James Financial set a $13.00 price objective on Black Rock Coffee Bar in a research report on Wednesday, August 12th. Weiss Ratings raised Black Rock Coffee Bar from a “sell (d-)” rating to a “sell (d)” rating in a report on Friday, October 2nd. Morgan Stanley downgraded Black Rock Coffee Bar from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $22.00 to $9.00 in a research note on Wednesday, July 15th. Robert W. Baird reaffirmed a “neutral” rating and set a $10.00 price objective (down from $12.00) on shares of Black Rock Coffee Bar in a research report on Monday, August 24th. Finally, DA Davidson cut their price objective on Black Rock Coffee Bar from $15.00 to $10.00 and set a “buy” rating for the company in a research note on Wednesday, August 12th. Three equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $11.50.

Black Rock Coffee Bar Stock Down 2.4%

Shares of BRCB stock traded down $0.20 during trading hours on Thursday, hitting $8.07. 539,290 shares of the company’s stock traded hands, compared to its average volume of 286,790. The stock’s fifty day simple moving average is $8.03 and its two-hundred day simple moving average is $8.91. The stock has a market cap of $404.06 million and a price-to-earnings ratio of 115.30. Black Rock Coffee Bar has a 12-month low of $6.11 and a 12-month high of $26.48. The company has a quick ratio of 0.62, a current ratio of 0.71 and a debt-to-equity ratio of 0.27.

Black Rock Coffee Bar (NASDAQ:BRCB) last released its earnings results on Tuesday, August 11th. The company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.01). The company had revenue of $63.00 million during the quarter. Black Rock Coffee Bar had a return on equity of 1.46% and a net margin of 0.69%. On average, analysts expect that Black Rock Coffee Bar will post 0.20 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of BRCB. Bank of New York Mellon Corp raised its holdings in Black Rock Coffee Bar by 50.1% during the first quarter. Bank of New York Mellon Corp now owns 1,161,703 shares of the company’s stock valued at $15,009,000 after acquiring an additional 387,553 shares during the period. Renaissance Technologies LLC lifted its position in shares of Black Rock Coffee Bar by 179.4% in the first quarter. Renaissance Technologies LLC now owns 207,600 shares of the company’s stock valued at $2,682,000 after acquiring an additional 133,296 shares in the last quarter. Emerald Advisers LLC boosted its stake in shares of Black Rock Coffee Bar by 22.4% in the first quarter. Emerald Advisers LLC now owns 749,626 shares of the company’s stock worth $9,685,000 after acquiring an additional 137,133 shares during the period. Emerald Mutual Fund Advisers Trust boosted its stake in shares of Black Rock Coffee Bar by 29.0% in the first quarter. Emerald Mutual Fund Advisers Trust now owns 453,734 shares of the company’s stock worth $5,862,000 after acquiring an additional 101,945 shares during the period. Finally, Jennison Associates LLC boosted its stake in shares of Black Rock Coffee Bar by 59.9% in the first quarter. Jennison Associates LLC now owns 583,806 shares of the company’s stock worth $7,543,000 after acquiring an additional 218,692 shares during the period.

About Black Rock Coffee Bar

Black Rock Coffee Bar, Inc operates a chain of specialty coffee shops under the Black Rock Coffee Bar brand. The company primarily serves beverages through drive-thru and café locations, with a menu that includes coffee, espresso-based drinks, teas, blended beverages, energy drinks and other specialty refreshments.

In addition to beverages, Black Rock Coffee Bar offers food and snack items such as breakfast selections, pastries and other grab-and-go products. Its locations are designed to provide convenient service for customers seeking handcrafted drinks and light food options.

Founded in 2008, the company was established by Jeff Hernandez and Daniel Brand and is headquartered in Portland, Oregon.