Black Rock Coffee Bar, Inc. (NASDAQ:BRCB) Stock Has Consensus Target Price of $11.50 According to Analysts

Shares of Black Rock Coffee Bar, Inc. (NASDAQ:BRCB) have been assigned a consensus recommendation of “Hold” from the seven research firms that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $11.50.

Several research analysts recently weighed in on the company. DA Davidson reduced their target price on Black Rock Coffee Bar from $15.00 to $10.00 and set a “buy” rating on the stock in a research report on Wednesday, August 12th. Morgan Stanley downgraded Black Rock Coffee Bar from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $22.00 to $9.00 in a report on Wednesday, July 15th. Robert W. Baird restated a “neutral” rating and set a $10.00 price objective (down from $12.00) on shares of Black Rock Coffee Bar in a report on Monday, August 24th. Raymond James Financial set a $13.00 price objective on shares of Black Rock Coffee Bar in a research report on Wednesday, August 12th. Finally, Weiss Ratings upgraded shares of Black Rock Coffee Bar from a “sell (d-)” rating to a “sell (d)” rating in a research note on Friday, October 2nd.

Institutional Investors Weigh In On Black Rock Coffee Bar

Institutional investors and hedge funds have recently made changes to their positions in the stock. Bank of New York Mellon Corp increased its position in shares of Black Rock Coffee Bar by 50.1% in the 1st quarter. Bank of New York Mellon Corp now owns 1,161,703 shares of the company’s stock valued at $15,009,000 after acquiring an additional 387,553 shares during the period. Emerald Advisers LLC lifted its position in Black Rock Coffee Bar by 22.4% during the 1st quarter. Emerald Advisers LLC now owns 749,626 shares of the company’s stock worth $9,685,000 after acquiring an additional 137,133 shares during the period. Renaissance Technologies LLC grew its stake in Black Rock Coffee Bar by 179.4% during the 1st quarter. Renaissance Technologies LLC now owns 207,600 shares of the company’s stock valued at $2,682,000 after purchasing an additional 133,296 shares during the last quarter. Emerald Mutual Fund Advisers Trust grew its stake in Black Rock Coffee Bar by 29.0% during the 1st quarter. Emerald Mutual Fund Advisers Trust now owns 453,734 shares of the company’s stock valued at $5,862,000 after purchasing an additional 101,945 shares during the last quarter. Finally, Jennison Associates LLC increased its holdings in shares of Black Rock Coffee Bar by 59.9% in the first quarter. Jennison Associates LLC now owns 583,806 shares of the company’s stock valued at $7,543,000 after purchasing an additional 218,692 shares during the period.

Black Rock Coffee Bar Price Performance

Shares of BRCB opened at $7.25 on Friday. The company has a 50 day moving average of $8.05 and a two-hundred day moving average of $9.13. The company has a quick ratio of 0.62, a current ratio of 0.71 and a debt-to-equity ratio of 0.27. Black Rock Coffee Bar has a twelve month low of $6.11 and a twelve month high of $26.48. The company has a market cap of $363.03 million and a price-to-earnings ratio of 103.59.

Black Rock Coffee Bar (NASDAQ:BRCB) last issued its quarterly earnings results on Tuesday, August 11th. The company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.01). Black Rock Coffee Bar had a return on equity of 1.46% and a net margin of 0.69%. The business had revenue of $63.00 million for the quarter. As a group, analysts predict that Black Rock Coffee Bar will post 0.21 earnings per share for the current fiscal year.

Black Rock Coffee Bar Company Profile

Black Rock Coffee Bar, Inc operates a chain of specialty coffee shops under the Black Rock Coffee Bar brand. The company primarily serves beverages through drive-thru and café locations, with a menu that includes coffee, espresso-based drinks, teas, blended beverages, energy drinks and other specialty refreshments.

In addition to beverages, Black Rock Coffee Bar offers food and snack items such as breakfast selections, pastries and other grab-and-go products. Its locations are designed to provide convenient service for customers seeking handcrafted drinks and light food options.

Founded in 2008, the company was established by Jeff Hernandez and Daniel Brand and is headquartered in Portland, Oregon.