BRC (NYSE:BRCC) Price Target Cut to $3.00 by Analysts at DA Davidson

BRC (NYSE:BRCC) had its target price cut by investment analysts at DA Davidson from $5.00 to $3.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. DA Davidson’s price target would indicate a potential upside of 44.58% from the stock’s previous close.

Several other analysts have also issued reports on BRCC. Telsey Advisory Group reiterated an “outperform” rating and set a $6.00 price objective on shares of BRC in a report on Tuesday. Roth Mkm reaffirmed a “neutral” rating and set a $2.50 price target (down from $3.50) on shares of BRC in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $5.63.

BRC Stock Down 3.5 %

BRCC traded down $0.08 on Wednesday, reaching $2.08. 638,144 shares of the company traded hands, compared to its average volume of 887,698. BRC has a 52-week low of $2.01 and a 52-week high of $7.14. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.14 and a quick ratio of 0.58. The company has a market cap of $441.44 million, a price-to-earnings ratio of -26.06 and a beta of 1.09. The stock’s 50 day moving average price is $2.80 and its 200-day moving average price is $3.17.

Hedge Funds Weigh In On BRC

Institutional investors have recently bought and sold shares of the stock. Jones Financial Companies Lllp boosted its stake in shares of BRC by 106.0% during the 4th quarter. Jones Financial Companies Lllp now owns 9,011 shares of the company’s stock worth $29,000 after acquiring an additional 4,637 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in BRC during the fourth quarter valued at approximately $30,000. Smith Thornton Advisors LLC bought a new position in shares of BRC in the third quarter valued at approximately $45,000. ProShare Advisors LLC acquired a new stake in shares of BRC in the fourth quarter worth $47,000. Finally, Ameriprise Financial Inc. bought a new stake in shares of BRC during the 4th quarter worth $47,000. 16.29% of the stock is currently owned by institutional investors.

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.