Telsey Advisory Group Reiterates “Outperform” Rating for BRC (NYSE:BRCC)

Telsey Advisory Group reaffirmed their outperform rating on shares of BRC (NYSE:BRCC) in a research note published on Monday morning, Benzinga reports. Telsey Advisory Group currently has a $8.00 price objective on the stock. Telsey Advisory Group also issued estimates for BRC’s Q3 2024 earnings at $0.00 EPS.

BRC Stock Performance

Shares of NYSE BRCC opened at $4.27 on Monday. BRC has a 1 year low of $2.51 and a 1 year high of $5.85. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.61 and a current ratio of 1.28. The company’s fifty day moving average price is $4.33 and its 200 day moving average price is $3.98. The company has a market capitalization of $905.88 million, a PE ratio of -15.81 and a beta of 1.01.

BRC (NYSE:BRCC) last announced its quarterly earnings results on Wednesday, March 6th. The company reported $0.19 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.20. The firm had revenue of $119.65 million during the quarter, compared to analyst estimates of $124.38 million. BRC had a positive return on equity of 4.11% and a negative net margin of 4.23%. On average, research analysts predict that BRC will post -0.01 earnings per share for the current year.

Hedge Funds Weigh In On BRC

Large investors have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. grew its position in shares of BRC by 106,550.0% in the third quarter. PNC Financial Services Group Inc. now owns 479,925 shares of the company’s stock valued at $1,723,000 after purchasing an additional 479,475 shares during the period. Allworth Financial LP lifted its stake in BRC by 83.6% in the 4th quarter. Allworth Financial LP now owns 9,776 shares of the company’s stock valued at $35,000 after buying an additional 4,450 shares in the last quarter. QVIDTVM Management LLC boosted its holdings in BRC by 19.9% in the 3rd quarter. QVIDTVM Management LLC now owns 2,477,346 shares of the company’s stock worth $8,894,000 after buying an additional 411,231 shares during the last quarter. Hollencrest Capital Management increased its stake in BRC by 9.3% during the 3rd quarter. Hollencrest Capital Management now owns 106,222 shares of the company’s stock worth $381,000 after buying an additional 9,000 shares in the last quarter. Finally, Anchor Capital Advisors LLC raised its holdings in shares of BRC by 68.4% during the third quarter. Anchor Capital Advisors LLC now owns 376,148 shares of the company’s stock valued at $1,350,000 after acquiring an additional 152,793 shares during the last quarter. 16.29% of the stock is currently owned by institutional investors and hedge funds.

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.