JPMorgan Chase & Co. Cuts Dutch Bros (NYSE:BROS) Price Target to $60.00

Dutch Bros (NYSE:BROS) had its price target lowered by JPMorgan Chase & Co. from $75.00 to $60.00 in a research report report published on Tuesday,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other equities research analysts have also recently weighed in on BROS. Weiss Ratings reissued a “hold (c)” rating on shares of Dutch Bros in a research report on Friday, July 17th. Citigroup reaffirmed a “buy” rating on shares of Dutch Bros in a research note on Thursday, August 6th. Jefferies Financial Group dropped their target price on shares of Dutch Bros from $75.00 to $60.00 and set an “overweight” rating for the company in a report on Tuesday. DA Davidson cut their target price on Dutch Bros from $85.00 to $60.00 and set a “buy” rating on the stock in a research note on Monday. Finally, Telsey Advisory Group boosted their price target on Dutch Bros from $66.00 to $74.00 and gave the company an “outperform” rating in a report on Friday, July 31st. Two analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Dutch Bros has a consensus rating of “Moderate Buy” and an average price target of $72.38.

Dutch Bros Price Performance

Shares of Dutch Bros stock opened at $38.59 on Tuesday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.35 and a quick ratio of 1.19. Dutch Bros has a one year low of $37.40 and a one year high of $74.02. The business’s 50 day simple moving average is $49.28 and its two-hundred day simple moving average is $55.11. The stock has a market capitalization of $6.74 billion, a P/E ratio of 53.59, a price-to-earnings-growth ratio of 1.36 and a beta of 2.31.

Dutch Bros (NYSE:BROS) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.04. Dutch Bros had a return on equity of 10.01% and a net margin of 4.91%.The firm had revenue of $550.85 million during the quarter, compared to analyst estimates of $525.38 million. During the same quarter in the prior year, the firm posted $0.26 earnings per share. The business’s quarterly revenue was up 32.5% compared to the same quarter last year. Analysts forecast that Dutch Bros will post 0.88 EPS for the current year.

Insider Activity

In related news, Director Todd Penegor purchased 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 13th. The stock was bought at an average cost of $51.56 per share, with a total value of $103,120.00. Following the completion of the purchase, the director directly owned 7,358 shares in the company, valued at approximately $379,378.48. This represents a 37.33% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 38.90% of the stock is owned by corporate insiders.

Institutional Trading of Dutch Bros

Large investors have recently bought and sold shares of the company. Ancora Advisors LLC bought a new stake in Dutch Bros in the 2nd quarter worth approximately $29,000. Brown Lisle Cummings Inc. boosted its stake in shares of Dutch Bros by 63.8% in the 1st quarter. Brown Lisle Cummings Inc. now owns 819 shares of the company’s stock worth $41,000 after buying an additional 319 shares during the last quarter. Glen Eagle Advisors LLC purchased a new position in shares of Dutch Bros in the 4th quarter worth $74,000. Nemes Rush Group LLC grew its holdings in shares of Dutch Bros by 25.9% in the fourth quarter. Nemes Rush Group LLC now owns 1,360 shares of the company’s stock worth $83,000 after acquiring an additional 280 shares during the period. Finally, Clearstead Advisors LLC increased its position in Dutch Bros by 35,275.0% during the fourth quarter. Clearstead Advisors LLC now owns 1,415 shares of the company’s stock valued at $87,000 after acquiring an additional 1,411 shares during the last quarter. 85.54% of the stock is owned by institutional investors.

Key Headlines Impacting Dutch Bros

Here are the key news stories impacting Dutch Bros this week:

• Positive Sentiment: Oppenheimer remains bullish: The firm maintained an “outperform” rating and set a $66 price target, implying substantial upside from recent levels. Oppenheimer expects Dutch Bros to benefit from continued unit growth and improving long-term earnings power. Oppenheimer expects Dutch Bros to break out
• Positive Sentiment: DA Davidson reiterated its Buy rating: Although it lowered its valuation following a 49% increase in planned capital expenditures and a dropped deal, the analyst shifted the valuation outlook forward and still sees considerable upside. DA Davidson Cut Its Dutch Bros Target
• Positive Sentiment: Expansion continues: Dutch Bros is opening new locations in West Des Moines, Corpus Christi, Champaign and other markets, with additional stores planned around Springfield and Columbus. The rollout supports the company’s long-term revenue and brand-growth strategy. Dutch Bros opens in Corpus Christi
• Positive Sentiment: Potential real-estate opportunities: Reports that Dutch Bros is evaluating former Salad and Go locations could allow the company to secure new sites more efficiently and accelerate expansion. Potential Dutch Bros locations

About Dutch Bros

Dutch Bros Inc is a drive-thru beverage company that operates the Dutch Bros coffeehouse brand. The company serves a broad menu of handcrafted beverages, including specialty coffees, cold brews, teas, energy drinks, lemonades, smoothies and flavored sodas, along with a selection of snacks and other food items.

Dutch Bros was founded in 1992 by brothers Dane and Travis Boersma in Grants Pass, Oregon. From its original pushcart operation, the company developed a drive-thru-focused model built around convenience, customized drinks and customer service.