Black Rock Coffee Bar (NASDAQ:BRCB) Stock Rating Lowered by Zacks Research

Black Rock Coffee Bar (NASDAQ:BRCB) was downgraded by analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued on Thursday, Zacks reports.

A number of other analysts have also issued reports on BRCB. DA Davidson decreased their target price on shares of Black Rock Coffee Bar from $15.00 to $10.00 and set a “buy” rating on the stock in a research report on Wednesday, August 12th. Robert W. Baird reiterated a “neutral” rating and issued a $10.00 price target (down from $12.00) on shares of Black Rock Coffee Bar in a report on Monday, August 24th. Raymond James Financial set a $13.00 price target on Black Rock Coffee Bar in a research note on Wednesday, August 12th. Morgan Stanley cut Black Rock Coffee Bar from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $22.00 to $9.00 in a report on Wednesday, July 15th. Finally, Weiss Ratings upgraded Black Rock Coffee Bar from a “sell (d-)” rating to a “sell (d)” rating in a report on Friday, October 2nd. Three research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Black Rock Coffee Bar presently has an average rating of “Hold” and a consensus target price of $11.50.

Black Rock Coffee Bar Trading Down 2.4%

NASDAQ:BRCB traded down $0.20 on Thursday, reaching $8.07. The stock had a trading volume of 539,290 shares, compared to its average volume of 286,790. Black Rock Coffee Bar has a 12-month low of $6.11 and a 12-month high of $26.48. The company has a market cap of $404.06 million and a price-to-earnings ratio of 115.30. The firm’s fifty day moving average is $8.03 and its two-hundred day moving average is $8.91. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.71 and a quick ratio of 0.62.

Black Rock Coffee Bar (NASDAQ:BRCB) last issued its quarterly earnings results on Tuesday, August 11th. The company reported $0.06 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 return on equity of 1.46% and a net margin of 0.69%. Equities analysts expect that Black Rock Coffee Bar will post 0.20 EPS for the current fiscal year.

Institutional Investors Weigh In On Black Rock Coffee Bar

Several hedge funds have recently modified their holdings of the stock. Bank of New York Mellon Corp boosted its position in shares of Black Rock Coffee Bar by 50.1% in the first quarter. Bank of New York Mellon Corp now owns 1,161,703 shares of the company’s stock worth $15,009,000 after acquiring an additional 387,553 shares during the last quarter. Emerald Advisers LLC increased its position in Black Rock Coffee Bar by 22.4% during the first quarter. Emerald Advisers LLC now owns 749,626 shares of the company’s stock worth $9,685,000 after purchasing an additional 137,133 shares during the last quarter. Jennison Associates LLC increased its position in Black Rock Coffee Bar by 59.9% during the first quarter. Jennison Associates LLC now owns 583,806 shares of the company’s stock worth $7,543,000 after purchasing an additional 218,692 shares during the last quarter. Emerald Mutual Fund Advisers Trust increased its position in Black Rock Coffee Bar by 29.0% during the first quarter. Emerald Mutual Fund Advisers Trust now owns 453,734 shares of the company’s stock worth $5,862,000 after purchasing an additional 101,945 shares during the last quarter. Finally, Peregrine Capital Management LLC raised its stake in Black Rock Coffee Bar by 22.0% during the first quarter. Peregrine Capital Management LLC now owns 331,702 shares of the company’s stock worth $4,286,000 after purchasing an additional 59,712 shares during the period.

About Black Rock Coffee Bar

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.