BRC (NYSE:BRCC) Receives Buy Rating from DA Davidson

BRC (NYSE:BRCC)‘s stock had its “buy” rating reiterated by investment analysts at DA Davidson in a research note issued on Wednesday,Benzinga reports. They presently have a $3.00 target price on the stock. DA Davidson’s price target would indicate a potential upside of 38.31% from the company’s current price.

Several other brokerages have also commented on BRCC. Roth Mkm reissued a “neutral” rating and set a $2.50 price objective (down previously from $3.50) on shares of BRC in a research report on Wednesday, March 5th. Roth Capital set a $2.50 price objective on BRC in a research report on Wednesday, March 5th. Finally, Telsey Advisory Group set a $4.00 price objective on BRC in a research report on Wednesday, March 5th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, BRC currently has a consensus rating of “Moderate Buy” and an average target price of $4.60.

BRC Stock Performance

Shares of BRC stock opened at $2.17 on Wednesday. The company has a current ratio of 1.14, a quick ratio of 0.58 and a debt-to-equity ratio of 0.92. The firm has a market capitalization of $462.09 million, a P/E ratio of -27.11 and a beta of 1.09. The business has a fifty day simple moving average of $2.56 and a two-hundred day simple moving average of $3.00. BRC has a 12 month low of $1.93 and a 12 month high of $7.14.

Hedge Funds Weigh In On BRC

Several institutional investors and hedge funds have recently modified their holdings of BRCC. Millennium Management LLC increased its holdings in shares of BRC by 1,018.3% during the fourth quarter. Millennium Management LLC now owns 1,798,148 shares of the company’s stock valued at $5,700,000 after acquiring an additional 1,637,357 shares in the last quarter. Engaged Capital LLC increased its holdings in shares of BRC by 5.3% during the third quarter. Engaged Capital LLC now owns 13,535,560 shares of the company’s stock valued at $46,292,000 after acquiring an additional 684,542 shares in the last quarter. QVIDTVM Management LLC increased its holdings in shares of BRC by 24.2% during the third quarter. QVIDTVM Management LLC now owns 3,219,929 shares of the company’s stock valued at $11,012,000 after acquiring an additional 627,653 shares in the last quarter. Verition Fund Management LLC increased its holdings in shares of BRC by 4,294.3% during the third quarter. Verition Fund Management LLC now owns 497,211 shares of the company’s stock valued at $1,700,000 after acquiring an additional 485,896 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. increased its holdings in shares of BRC by 697.0% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 445,764 shares of the company’s stock valued at $1,413,000 after acquiring an additional 389,833 shares in the last quarter. 16.29% of the stock is currently owned by institutional investors.

About BRC

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.