BRC (NYSE:BRCC – Get Free Report) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Saturday, Wall Street Zen reports.
BRCC has been the topic of several other research reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of BRC in a research report on Monday, November 2nd. DA Davidson increased their price target on BRC from $2.50 to $25.00 and gave the company a “buy” rating in a research report on Monday, August 31st. Finally, Craig Hallum began coverage on BRC in a research note on Monday, August 3rd. They set a “buy” rating and a $17.50 price objective on the stock. Three research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, BRC has a consensus rating of “Moderate Buy” and a consensus target price of $22.50.
View Our Latest Stock Report on BRC
BRC Trading Up 0.2%
BRCC opened at $9.68 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.59 and a quick ratio of 1.02. BRC has a fifty-two week low of $6.00 and a fifty-two week high of $18.55. The firm has a market capitalization of $242.65 million, a PE ratio of -16.69 and a beta of 1.21. The company’s 50-day moving average is $9.75 and its 200 day moving average is $10.23.
BRC (NYSE:BRCC – Get Free Report) last released its quarterly earnings results on Monday, November 2nd. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.34). The company had revenue of $108.04 million for the quarter, compared to analyst estimates of $105.89 million. BRC had a negative net margin of 1.53% and a negative return on equity of 9.55%.
Insider Activity at BRC
In other BRC news, insider Evan Hafer sold 15,304 shares of BRC stock in a transaction that occurred on Thursday, October 15th. The shares were sold at an average price of $10.62, for a total transaction of $162,528.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Stephen Kadenacy sold 10,500 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $8.20, for a total value of $86,100.00. Following the completion of the transaction, the director owned 23,495 shares in the company, valued at $192,659. The trade was a 30.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 46,300 shares of company stock worth $474,943. Insiders own 54.87% of the company’s stock.
Institutional Trading of BRC
Hedge funds have recently bought and sold shares of the business. Zazove Associates LLC increased its position in shares of BRC by 270.7% during the 1st quarter. Zazove Associates LLC now owns 2,000,000 shares of the company’s stock valued at $1,552,000 after purchasing an additional 1,460,546 shares during the last quarter. Renaissance Technologies LLC bought a new stake in shares of BRC during the 1st quarter worth $232,000. Bank of America Corp DE raised its stake in shares of BRC by 9.2% during the 1st quarter. Bank of America Corp DE now owns 142,209 shares of the company’s stock worth $110,000 after purchasing an additional 11,933 shares during the period. Squarepoint Ops LLC boosted its holdings in shares of BRC by 53.8% in the 2nd quarter. Squarepoint Ops LLC now owns 72,944 shares of the company’s stock worth $81,000 after buying an additional 25,519 shares during the last quarter. Finally, Modera Wealth Management LLC purchased a new position in shares of BRC in the 1st quarter worth about $78,000. 16.29% of the stock is currently owned by institutional investors.
About BRC
Black Rifle Coffee Company (NYSE: BRCC) is a veteran-founded coffee and lifestyle company focused on producing, marketing and selling premium coffee products. Its offerings include whole-bean and ground coffee, single-serve options, ready-to-drink beverages, tea, brewing equipment, apparel and other branded merchandise.
The company distributes its products through direct-to-consumer channels, including its online store and coffee subscription programs, as well as wholesale and retail partners.
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