BRC’s (BRCC) “Buy” Rating Reaffirmed at DA Davidson

BRC (NYSE:BRCC)‘s stock had its “buy” rating restated by investment analysts at DA Davidson in a research report issued to clients and investors on Thursday,Benzinga reports. They currently have a $2.50 price target on the stock. DA Davidson’s price target points to a potential upside of 130.41% from the stock’s previous close.

Other equities research analysts have also issued reports about the company. Wall Street Zen upgraded BRC from a “hold” rating to a “buy” rating in a report on Saturday, May 23rd. Weiss Ratings upgraded BRC from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, June 12th. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $2.50.

BRC Stock Up 1.4%

BRC stock traded up $0.01 during mid-day trading on Thursday, hitting $1.08. 125,183 shares of the company’s stock were exchanged, compared to its average volume of 1,109,585. The company has a current ratio of 1.36, a quick ratio of 0.74 and a debt-to-equity ratio of 0.46. The stock has a market cap of $270.71 million, a P/E ratio of -10.85 and a beta of 1.25. BRC has a 1-year low of $0.60 and a 1-year high of $2.10. The stock has a 50 day moving average of $1.36 and a two-hundred day moving average of $1.06.

BRC (NYSE:BRCC) last announced its quarterly earnings results on Monday, May 4th. The company reported $0.00 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.01. The company had revenue of $109.23 million during the quarter, compared to analysts’ expectations of $96.95 million. BRC had a negative return on equity of 14.55% and a negative net margin of 2.17%.

Insider Buying and Selling at BRC

In related news, insider Evan Hafer sold 2,000,000 shares of the business’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $1.49, for a total transaction of $2,980,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 54.87% of the company’s stock.

Institutional Trading of BRC

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BRCC. AQR Capital Management LLC lifted its holdings in shares of BRC by 342.1% during the first quarter. AQR Capital Management LLC now owns 56,861 shares of the company’s stock worth $119,000 after buying an additional 43,998 shares during the last quarter. Millennium Management LLC raised its stake in BRC by 4.1% during the 1st quarter. Millennium Management LLC now owns 1,871,110 shares of the company’s stock valued at $3,911,000 after purchasing an additional 72,962 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in BRC by 204.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 651,251 shares of the company’s stock valued at $1,361,000 after purchasing an additional 437,359 shares during the period. Geode Capital Management LLC boosted its holdings in BRC by 10.0% in the 2nd quarter. Geode Capital Management LLC now owns 1,270,764 shares of the company’s stock valued at $1,665,000 after purchasing an additional 115,289 shares during the period. Finally, Rhumbline Advisers grew its position in BRC by 158.5% in the 2nd quarter. Rhumbline Advisers now owns 178,510 shares of the company’s stock worth $234,000 after purchasing an additional 109,444 shares during the last quarter. Institutional investors and hedge funds own 16.29% of the company’s stock.

About BRC

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.