DA Davidson Reaffirms “Buy” Rating for BRC (NYSE:BRCC)

BRC (NYSE:BRCC)‘s stock had its “buy” rating reiterated by equities research analysts at DA Davidson in a report issued on Tuesday,Benzinga reports. They presently have a $2.50 price objective on the stock. DA Davidson’s target price suggests a potential upside of 88.82% from the stock’s current price.

Other analysts also recently issued reports about the stock. Telsey Advisory Group reiterated an “outperform” rating and issued a $2.50 price objective on shares of BRC in a research report on Tuesday, March 3rd. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of BRC in a research note on Monday, April 20th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $2.33.

BRC Stock Up 21.5%

BRCC stock traded up $0.23 during mid-day trading on Tuesday, hitting $1.32. 8,042,127 shares of the company were exchanged, compared to its average volume of 983,947. The company has a market capitalization of $329.28 million, a PE ratio of -9.25 and a beta of 1.03. The company has a current ratio of 1.32, a quick ratio of 0.67 and a debt-to-equity ratio of 0.48. BRC has a twelve month low of $0.60 and a twelve month high of $2.10. The firm has a fifty day simple moving average of $0.85 and a 200 day simple moving average of $1.02.

BRC (NYSE:BRCC) last posted its quarterly earnings results on Monday, May 4th. The company reported $0.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.01. BRC had a negative net margin of 2.99% and a negative return on equity of 21.46%. The company had revenue of $109.23 million for the quarter, compared to the consensus estimate of $96.95 million.

Insider Buying and Selling

In other BRC news, Director Steven Taslitz bought 150,000 shares of the firm’s stock in a transaction on Thursday, March 5th. The stock was bought at an average cost of $0.75 per share, with a total value of $112,500.00. Following the completion of the transaction, the director directly owned 601,184 shares of the company’s stock, valued at approximately $450,888. The trade was a 33.25% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 54.87% of the stock is owned by corporate insiders.

Institutional Trading of BRC

A number of institutional investors and hedge funds have recently modified their holdings of BRCC. CWM LLC raised its stake in BRC by 63.3% during the 3rd quarter. CWM LLC now owns 18,616 shares of the company’s stock valued at $29,000 after purchasing an additional 7,215 shares during the last quarter. Cerity Partners LLC grew its holdings in BRC by 3.6% during the 2nd quarter. Cerity Partners LLC now owns 256,827 shares of the company’s stock worth $336,000 after acquiring an additional 8,930 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in BRC by 30.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 38,955 shares of the company’s stock worth $61,000 after acquiring an additional 9,102 shares during the last quarter. Alliancebernstein L.P. grew its holdings in BRC by 9.3% during the 3rd quarter. Alliancebernstein L.P. now owns 107,900 shares of the company’s stock worth $168,000 after acquiring an additional 9,200 shares during the last quarter. Finally, Virtu Financial LLC boosted its stake in shares of BRC by 82.2% in the 3rd quarter. Virtu Financial LLC now owns 21,037 shares of the company’s stock valued at $33,000 after purchasing an additional 9,492 shares during the last quarter. 16.29% of the stock is currently owned by institutional investors and hedge funds.

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.