BRC (NYSE:BRCC) Trading Up 5.3% – Still a Buy?

BRC Inc. (NYSE:BRCC)’s share price was up 5.3% during mid-day trading on Thursday . The stock traded as high as $2.98 and last traded at $2.97. Approximately 525,612 shares changed hands during mid-day trading, a decline of 41% from the average daily volume of 897,243 shares. The stock had previously closed at $2.82.

Analysts Set New Price Targets

A number of equities analysts have issued reports on BRCC shares. Roth Mkm restated a “neutral” rating and set a $3.50 target price (down previously from $4.00) on shares of BRC in a report on Wednesday, November 6th. DA Davidson restated a “buy” rating and set a $5.50 target price on shares of BRC in a report on Wednesday, September 18th. Telsey Advisory Group restated an “outperform” rating and set a $6.00 target price on shares of BRC in a report on Thursday, October 31st. Finally, Roth Capital cut BRC from a “strong-buy” rating to a “hold” rating in a report on Friday, August 9th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $6.50.

BRC Stock Performance

The stock has a 50-day moving average price of $3.30 and a 200 day moving average price of $4.59. The company has a market cap of $641.82 million, a price-to-earnings ratio of -37.75 and a beta of 1.16. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.14 and a quick ratio of 0.58.

BRC (NYSE:BRCC) last released its quarterly earnings results on Monday, November 4th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.01. The business had revenue of $98.20 million during the quarter, compared to the consensus estimate of $95.06 million. BRC had a positive return on equity of 23.35% and a negative net margin of 1.22%. During the same period in the previous year, the company posted ($0.05) EPS. As a group, analysts anticipate that BRC Inc. will post -0.02 EPS for the current fiscal year.

Insider Buying and Selling at BRC

In other news, Director Thomas E. Davin sold 10,884 shares of the business’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $3.81, for a total transaction of $41,468.04. Following the completion of the transaction, the director now owns 15,851 shares of the company’s stock, valued at approximately $60,392.31. The trade was a 40.71 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Evan Hafer sold 3,000,000 shares of the business’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $3.20, for a total value of $9,600,000.00. The disclosure for this sale can be found here. Insiders sold 4,010,884 shares of company stock valued at $12,811,468 in the last three months. Corporate insiders own 73.80% of the company’s stock.

Hedge Funds Weigh In On BRC

A number of institutional investors have recently modified their holdings of BRCC. Geode Capital Management LLC increased its holdings in BRC by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,073,638 shares of the company’s stock worth $3,673,000 after purchasing an additional 10,100 shares in the last quarter. Barclays PLC increased its holdings in BRC by 325.9% in the 3rd quarter. Barclays PLC now owns 74,967 shares of the company’s stock worth $257,000 after purchasing an additional 57,366 shares in the last quarter. State Street Corp increased its holdings in BRC by 3.2% in the 3rd quarter. State Street Corp now owns 955,717 shares of the company’s stock worth $3,269,000 after purchasing an additional 29,596 shares in the last quarter. Quadrature Capital Ltd acquired a new position in BRC in the 3rd quarter worth about $75,000. Finally, HighTower Advisors LLC increased its holdings in BRC by 153.4% in the 3rd quarter. HighTower Advisors LLC now owns 27,521 shares of the company’s stock worth $91,000 after purchasing an additional 16,661 shares in the last quarter. Institutional investors and hedge funds own 16.29% of the company’s stock.

BRC Company Profile

BRC Inc, through its subsidiaries, purchases, roasts, and sells coffee, coffee accessories, and branded apparel in the United States. The company also produces media content, as well as sells coffee brewing equipment, and outdoor and lifestyle gear. It supports active military, veterans, and first responders.