Shares of Black Rock Coffee Bar, Inc. (NASDAQ:BRCB – Get Free Report) have been given an average rating of “Hold” by the seven research firms that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $11.50.
A number of research firms have recently commented on BRCB. Robert W. Baird reiterated a “neutral” rating and issued a $10.00 price objective (down from $12.00) on shares of Black Rock Coffee Bar in a research note on Monday, August 24th. Morgan Stanley cut Black Rock Coffee Bar from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $22.00 to $9.00 in a research report on Wednesday, July 15th. DA Davidson decreased their target price 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. Raymond James Financial set a $13.00 target price on Black Rock Coffee Bar in a report on Wednesday, August 12th. Finally, Weiss Ratings raised Black Rock Coffee Bar from a “sell (d-)” rating to a “sell (d)” rating in a research report on Friday, October 2nd.
Get Our Latest Analysis on BRCB
Institutional Investors Weigh In On Black Rock Coffee Bar
Hedge funds have recently modified their holdings of the business. Alkeme Wealth LLC acquired a new position in Black Rock Coffee Bar during the 3rd quarter valued at $214,000. BlueCrest Capital Management Ltd bought a new stake in Black Rock Coffee Bar in the 2nd quarter valued at $166,000. Engineers Gate Manager LP boosted its holdings in Black Rock Coffee Bar by 172.0% in the 2nd quarter. Engineers Gate Manager LP now owns 59,909 shares of the company’s stock valued at $497,000 after purchasing an additional 37,880 shares during the period. Bank of America Corp DE boosted its holdings in Black Rock Coffee Bar by 1.9% in the 1st quarter. Bank of America Corp DE now owns 143,896 shares of the company’s stock valued at $1,859,000 after purchasing an additional 2,631 shares during the period. Finally, Renaissance Technologies LLC grew its position in Black Rock Coffee Bar by 179.4% in the 1st quarter. Renaissance Technologies LLC now owns 207,600 shares of the company’s stock worth $2,682,000 after purchasing an additional 133,296 shares during the last quarter.
Black Rock Coffee Bar Stock Performance
BRCB traded down $0.20 during trading on Friday, hitting $8.07. The stock had a trading volume of 539,290 shares, compared to its average volume of 286,790. The firm has a market cap of $404.06 million and a PE ratio of 115.30. The company has a current ratio of 0.71, a quick ratio of 0.62 and a debt-to-equity ratio of 0.27. Black Rock Coffee Bar has a 12 month low of $6.11 and a 12 month high of $26.48. The company has a 50 day simple moving average of $8.03 and a 200-day simple moving average of $8.91.
Black Rock Coffee Bar (NASDAQ:BRCB – Get Free Report) last released its quarterly earnings results on Tuesday, August 11th. The company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.01). The firm had revenue of $63.00 million for the quarter. Black Rock Coffee Bar had a net margin of 0.69% and a return on equity of 1.46%. Analysts expect that Black Rock Coffee Bar will post 0.20 EPS for the current year.
Black Rock Coffee Bar Company Profile
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.
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