Bank of America Cuts Dutch Bros (NYSE:BROS) Price Target to $64.00

Dutch Bros (NYSE:BROSGet Rating) had its price target dropped by Bank of America from $80.00 to $64.00 in a report released on Thursday, The Fly reports. Bank of America‘s price target would suggest a potential upside of 137.04% from the company’s current price.

BROS has been the topic of a number of other research reports. Stifel Nicolaus lowered Dutch Bros from a “buy” rating to a “hold” rating and lowered their target price for the stock from $70.00 to $30.00 in a research note on Thursday. Zacks Investment Research lowered Dutch Bros from a “buy” rating to a “hold” rating in a research note on Tuesday, May 3rd. Gordon Haskett started coverage on Dutch Bros in a research note on Wednesday, April 13th. They set a “buy” rating and a $64.00 target price on the stock. Robert W. Baird reduced their price target on Dutch Bros from $60.00 to $30.00 in a research report on Thursday. Finally, Cowen reduced their price target on Dutch Bros from $65.00 to $35.00 in a research report on Thursday. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $50.91.

BROS opened at $27.00 on Thursday. Dutch Bros has a 52-week low of $20.05 and a 52-week high of $81.40. The company has a current ratio of 0.43, a quick ratio of 0.27 and a debt-to-equity ratio of 0.40. The business’s 50-day simple moving average is $51.29 and its 200 day simple moving average is $52.47.

Dutch Bros (NYSE:BROSGet Rating) last announced its earnings results on Wednesday, May 11th. The company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.03). As a group, research analysts predict that Dutch Bros will post -0.05 earnings per share for the current year.

In related news, major shareholder Tsg7 A. Management Llc sold 5,000,000 shares of the firm’s stock in a transaction on Thursday, March 10th. The stock was sold at an average price of $51.47, for a total transaction of $257,350,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Joth Ricci sold 71,125 shares of the firm’s stock in a transaction on Monday, March 7th. The stock was sold at an average price of $46.08, for a total value of $3,277,440.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,222,250 shares of company stock worth $267,655,469.

Large investors have recently made changes to their positions in the stock. Massachusetts Financial Services Co. MA bought a new position in Dutch Bros during the 3rd quarter worth $41,762,000. National Asset Management Inc. bought a new position in shares of Dutch Bros in the 4th quarter worth about $267,000. CIBC Asset Management Inc bought a new position in shares of Dutch Bros in the 4th quarter worth about $354,000. Lord Abbett & CO. LLC bought a new position in shares of Dutch Bros in the 3rd quarter worth about $5,848,000. Finally, U.S. Capital Wealth Advisors LLC bought a new position in shares of Dutch Bros in the 4th quarter worth about $374,000.

About Dutch Bros (Get Rating)

Dutch Bros Inc operates and franchises drive-thru shops. It offers Dutch Bros hot and cold espresso-based beverages, and cold brew coffee products, as well as Blue Rebel energy drinks, tea, lemonade, smoothies, and other beverages through company-operated shops and online channels. As of December 31, 2021, it operated 538 drive-thru coffee locations in Arizona, California, Colorado, Idaho, Kansas, Nevada, New Mexico, Oklahoma, Oregon, Texas, Utah, and Washington.

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