BRC (NYSE:BRCC) Given Buy Rating at DA Davidson

BRC (NYSE:BRCC)‘s stock had its “buy” rating reaffirmed by equities researchers at DA Davidson in a note issued to investors on Wednesday,Benzinga reports. They presently have a $2.50 price objective on the stock. DA Davidson’s target price indicates a potential upside of 141.55% from the company’s current price.

Several other research analysts have also issued reports on BRCC. Weiss Ratings upgraded BRC from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, July 21st. Wall Street Zen raised BRC from a “hold” rating to a “buy” rating in a research report on Saturday, May 23rd. Finally, Craig Hallum initiated coverage on BRC in a report on Monday. They issued a “buy” rating and a $1.75 target price on the stock. Three research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, BRC has a consensus rating of “Moderate Buy” and an average price target of $2.25.

BRC Price Performance

NYSE:BRCC traded down $0.01 during mid-day trading on Wednesday, reaching $1.03. The stock had a trading volume of 622,825 shares, compared to its average volume of 1,067,948. BRC has a 12 month low of $0.60 and a 12 month high of $1.85. The stock has a market capitalization of $258.23 million, a PE ratio of -10.35 and a beta of 1.25. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.36 and a quick ratio of 0.74. The stock has a 50-day simple moving average of $1.25 and a two-hundred day simple moving average of $1.06.

BRC (NYSE:BRCC) last posted its quarterly earnings results on Monday, May 4th. The company reported $0.00 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.01. BRC had a negative net margin of 0.89% and a negative return on equity of 5.38%. The company had revenue of $109.23 million for the quarter, compared to the consensus estimate of $96.95 million.

Insider Transactions at BRC

In other BRC news, insider Evan Hafer sold 2,000,000 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $1.49, for a total transaction of $2,980,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 54.87% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of BRCC. Alyeska Investment Group L.P. purchased a new stake in BRC in the 3rd quarter valued at $16,206,000. Vanguard Group Inc. boosted its holdings in BRC by 50.9% during the 3rd quarter. Vanguard Group Inc. now owns 4,152,681 shares of the company’s stock worth $6,478,000 after acquiring an additional 1,399,833 shares during the last quarter. QVIDTVM Management LLC grew its stake in shares of BRC by 1.8% in the 4th quarter. QVIDTVM Management LLC now owns 3,400,681 shares of the company’s stock worth $3,775,000 after acquiring an additional 60,000 shares in the last quarter. Nantahala Capital Management LLC purchased a new stake in shares of BRC in the third quarter valued at about $4,104,000. Finally, Geode Capital Management LLC raised its holdings in shares of BRC by 7.3% in the fourth quarter. Geode Capital Management LLC now owns 2,234,710 shares of the company’s stock valued at $2,481,000 after purchasing an additional 151,438 shares during the last quarter. Hedge funds and other institutional investors own 16.29% of the company’s stock.

BRC Company Profile

Black Rifle Coffee Company, Inc is a veteran-owned specialty coffee roaster and retailer that offers a range of coffee products, merchandise and subscription services. The company sources, roasts and distributes its own blends and single-origin coffees, as well as ready-to-drink beverages and branded apparel. Its product lineup includes whole-bean and ground coffees, cold brew concentrates, K-cup pods and limited-edition small-batch offerings designed to appeal to active lifestyle and patriotic consumers.

Founded in 2014 by U.S.