Black Rock Coffee Bar, Inc. (NASDAQ:BRCB) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Black Rock Coffee Bar, Inc. (NASDAQ:BRCB) have received an average recommendation of “Hold” from the eight brokerages that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, four have given a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $11.50.

BRCB has been the topic of several research analyst reports. Wall Street Zen upgraded Black Rock Coffee Bar from a “sell” rating to a “hold” rating in a research report on Sunday, June 7th. Raymond James Financial set a $13.00 price objective on Black Rock Coffee Bar in a research report on Wednesday, August 12th. Morgan Stanley downgraded Black Rock Coffee Bar from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $22.00 to $9.00 in a research report on Wednesday, July 15th. DA Davidson decreased their price target on shares of Black Rock Coffee Bar from $15.00 to $10.00 and set a “buy” rating on the stock in a research note on Wednesday, August 12th. Finally, Robert W. Baird restated a “neutral” rating and set a $10.00 price objective (down from $12.00) on shares of Black Rock Coffee Bar in a research report on Monday, August 24th.

Black Rock Coffee Bar Trading Down 3.8%

NASDAQ:BRCB opened at $8.16 on Tuesday. The business has a fifty day moving average price of $8.39 and a 200-day moving average price of $10.21. 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 has a one year low of $6.11 and a one year high of $30.40. The firm has a market capitalization of $408.57 million and a price-to-earnings ratio of 116.59.

Black Rock Coffee Bar (NASDAQ:BRCB) last announced its quarterly earnings data on Tuesday, August 11th. The company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.01). Black Rock Coffee Bar had a net margin of 0.69% and a return on equity of 1.46%. The company had revenue of $63.00 million for the quarter. Sell-side analysts forecast that Black Rock Coffee Bar will post 0.21 EPS for the current year.

Institutional Trading of Black Rock Coffee Bar

A number of large investors have recently made changes to their positions in the stock. BlueCrest Capital Management Ltd bought a new position in Black Rock Coffee Bar in the second quarter worth approximately $166,000. Engineers Gate Manager LP lifted its position in shares of Black Rock Coffee Bar by 172.0% during the second quarter. Engineers Gate Manager LP now owns 59,909 shares of the company’s stock valued at $497,000 after buying an additional 37,880 shares during the last quarter. Bank of America Corp DE boosted its stake in Black Rock Coffee Bar by 1.9% in the first quarter. Bank of America Corp DE now owns 143,896 shares of the company’s stock valued at $1,859,000 after acquiring an additional 2,631 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of Black Rock Coffee Bar by 179.4% in the 1st quarter. Renaissance Technologies LLC now owns 207,600 shares of the company’s stock worth $2,682,000 after purchasing an additional 133,296 shares in the last quarter. Finally, Sei Investments Co. grew its stake in shares of Black Rock Coffee Bar by 58.2% during the first quarter. Sei Investments Co. now owns 62,607 shares of the company’s stock worth $809,000 after acquiring an additional 23,040 shares during the last quarter.

About Black Rock Coffee Bar

Black Rock Coffee Bar is a specialty coffee company that operates a network of drive-thru and café locations in the United States. The company focuses on convenient service and a menu built around coffee and other handcrafted beverages.

Its offerings include espresso-based drinks, brewed coffee, cold and iced beverages, teas, smoothies, energy drinks and food items such as pastries and breakfast products. Black Rock also sells branded merchandise and packaged coffee through its retail operations and digital channels.

Founded in 2008 and based in Portland, Oregon, Black Rock Coffee Bar has expanded primarily across western U.S.