Black Rock Coffee Bar, Inc. (NASDAQ:BRCB) Stock Now Rated “Hold” by Sell-Side Analysts

Shares of Black Rock Coffee Bar, Inc. (NASDAQ:BRCB) have been given an average rating of “Hold” by the eight ratings firms that are currently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $10.50.

A number of brokerages recently issued reports on BRCB. Stifel Nicolaus initiated coverage on shares of Black Rock Coffee Bar in a report on Monday. They set a “hold” rating and a $12.00 price objective for the company. Raymond James Financial set a $13.00 price objective on shares of Black Rock Coffee Bar in a report on Wednesday, August 12th. Morgan Stanley downgraded shares of Black Rock Coffee Bar from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $22.00 to $9.00 in a research report on Wednesday, July 15th. Robert W. Baird cut shares of Black Rock Coffee Bar from an “outperform” rating to a “neutral” rating and cut their price target for the company from $12.00 to $10.00 in a research note on Monday, August 24th. Finally, DA Davidson reduced their target price on shares of Black Rock Coffee Bar from $15.00 to $10.00 and set a “buy” rating for the company in a report on Wednesday, August 12th.

Institutional Trading of Black Rock Coffee Bar

Large investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. increased its position in Black Rock Coffee Bar by 106.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 8,219 shares of the company’s stock worth $106,000 after purchasing an additional 4,243 shares in the last quarter. BlueCrest Capital Management Ltd bought a new position in Black Rock Coffee Bar during the 2nd quarter worth approximately $166,000. Alkeme Wealth LLC bought a new position in Black Rock Coffee Bar during the 3rd quarter worth approximately $214,000. Engineers Gate Manager LP lifted its position in shares of Black Rock Coffee Bar by 172.0% in the 2nd quarter. Engineers Gate Manager LP now owns 59,909 shares of the company’s stock worth $497,000 after purchasing an additional 37,880 shares during the period. Finally, Sei Investments Co. lifted its position in shares of Black Rock Coffee Bar by 58.2% in the 1st quarter. Sei Investments Co. now owns 62,607 shares of the company’s stock worth $809,000 after purchasing an additional 23,040 shares during the period.

Black Rock Coffee Bar News Summary

Here are the key news stories impacting Black Rock Coffee Bar this week:

• Positive Sentiment: Revenue increased 29.7% year over year to about $66.8 million. Same-store sales rose 5.8%, and the company opened 11 new stores during the quarter. Q3 results
• Positive Sentiment: The company swung to a profit: diluted EPS was $0.05, compared with a loss of $0.05 per share a year earlier. Q3 earnings report
• Neutral Sentiment: Stifel Nicolaus initiated coverage with a “Hold” rating and a $12 price target, offering a new analyst view but not a bullish recommendation. Analyst rating
• Negative Sentiment: EPS of $0.05 missed the $0.08 consensus, while revenue of roughly $66.8 million fell short of the reported $68.8 million estimate. Earnings and revenue estimates
• Negative Sentiment: Profitability remains a concern: operating profit was reported at $2.8 million, net income attributable to common shareholders was $1.5 million, and capital spending of $16.6 million exceeded $9.9 million in operating cash flow. Q3 earnings details

Black Rock Coffee Bar Trading Down 4.8%

NASDAQ:BRCB opened at $10.57 on Wednesday. Black Rock Coffee Bar has a 1-year low of $6.11 and a 1-year high of $25.19. The business’s 50-day moving average price is $8.53 and its two-hundred day moving average price is $10.36. The company has a current ratio of 0.71, a quick ratio of 0.62 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $529.24 million, a price-to-earnings ratio of 158.57 and a beta of -0.92.

Black Rock Coffee Bar (NASDAQ:BRCB) last posted its earnings results on Tuesday, November 10th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.03). The company had revenue of $66.75 million for the quarter. Black Rock Coffee Bar had a return on equity of 1.46% and a net margin of 0.69%. On average, equities analysts expect that Black Rock Coffee Bar will post 0.20 earnings per share for the current year.

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.