Black Rock Coffee Bar (NASDAQ:BRCB) Coverage Initiated by Analysts at Stifel Nicolaus

Equities researchers at Stifel Nicolaus assumed coverage on shares of Black Rock Coffee Bar (NASDAQ:BRCB) in a research note issued to investors on Monday. The brokerage set a “hold” rating and a $12.00 price target on the stock. Stifel Nicolaus‘s price target would indicate a potential upside of 10.39% from the company’s current price.

BRCB has been the topic of a number of other reports. Robert W. Baird lowered Black Rock Coffee Bar from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $12.00 to $10.00 in a report on Monday, August 24th. Zacks Research downgraded Black Rock Coffee Bar from a “hold” rating to a “strong sell” rating in a report on Thursday, October 15th. Weiss Ratings upgraded Black Rock Coffee Bar from a “sell (d-)” rating to a “sell (d)” rating in a research report on Friday, October 2nd. Morgan Stanley downgraded shares of Black Rock Coffee Bar from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $22.00 to $9.00 in a report on Wednesday, July 15th. Finally, DA Davidson cut their price target on shares of Black Rock Coffee Bar from $15.00 to $10.00 and set a “buy” rating on the stock in a report on Wednesday, August 12th. Two investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $10.50.

Black Rock Coffee Bar Stock Performance

Shares of NASDAQ BRCB traded up $0.13 during mid-day trading on Monday, hitting $10.87. The stock had a trading volume of 38,338 shares, compared to its average volume of 499,504. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.62 and a current ratio of 0.71. The company has a 50 day moving average of $8.47 and a two-hundred day moving average of $10.43. Black Rock Coffee Bar has a twelve month low of $6.11 and a twelve month high of $25.27. The firm has a market cap of $544.34 million, a PE ratio of 156.01 and a beta of -0.92.

Black Rock Coffee Bar (NASDAQ:BRCB) last issued its quarterly earnings results on Tuesday, August 11th. The company reported $0.06 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 firm had revenue of $63.00 million for the quarter. Research analysts predict that Black Rock Coffee Bar will post 0.20 EPS for the current fiscal year.

Institutional Investors Weigh In On Black Rock Coffee Bar

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp raised its stake in shares of Black Rock Coffee Bar by 50.1% during 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 buying an additional 387,553 shares during the last quarter. Jennison Associates LLC boosted its stake 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 worth $7,543,000 after buying an additional 218,692 shares during the last quarter. Emerald Advisers LLC boosted its stake in shares of Black Rock Coffee Bar by 22.4% in the first quarter. Emerald Advisers LLC now owns 749,626 shares of the company’s stock worth $9,685,000 after buying an additional 137,133 shares during the last quarter. Renaissance Technologies LLC grew its holdings in Black Rock Coffee Bar by 179.4% during the first quarter. Renaissance Technologies LLC now owns 207,600 shares of the company’s stock worth $2,682,000 after acquiring an additional 133,296 shares during the period. Finally, Emerald Mutual Fund Advisers Trust grew its holdings in Black Rock Coffee Bar by 29.0% during the first quarter. Emerald Mutual Fund Advisers Trust now owns 453,734 shares of the company’s stock worth $5,862,000 after acquiring an additional 101,945 shares during the period.

About Black Rock Coffee Bar

Black Rock Coffee Bar is a specialty coffee company that operates a network of primarily drive-thru coffee shops in the United States. Founded in 2008 and headquartered in Portland, Oregon, the company focuses on convenient service, beverage customization and a digitally connected customer experience.

Its menu includes brewed coffee, espresso-based beverages, cold and iced drinks, teas, smoothies and energy drinks, along with a selection of food and snack items. Black Rock also offers branded merchandise and customer loyalty services through its digital platforms.

The company serves customers through locations across several U.S.