DA Davidson Issues Pessimistic Forecast for BRC (NYSE:BRCC) Stock Price

BRC (NYSE:BRCC) had its price objective lowered by investment analysts at DA Davidson from $5.00 to $3.00 in a report released on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. DA Davidson’s price objective indicates a potential upside of 44.58% from the stock’s previous close.

BRCC has been the topic of several other research reports. Roth Mkm reissued a “neutral” rating and set a $2.50 price objective (down previously from $3.50) on shares of BRC in a report on Wednesday. Telsey Advisory Group reissued an “outperform” rating and issued a $6.00 price target on shares of BRC in a report on Tuesday. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $5.63.

BRC Stock Performance

NYSE:BRCC traded down $0.08 during trading hours on Wednesday, hitting $2.08. 638,144 shares of the company traded hands, compared to its average volume of 887,698. The company has a current ratio of 1.14, a quick ratio of 0.58 and a debt-to-equity ratio of 0.92. BRC has a twelve month low of $2.01 and a twelve month high of $7.14. The firm has a 50-day moving average of $2.80 and a 200 day moving average of $3.17. The stock has a market capitalization of $441.44 million, a price-to-earnings ratio of -26.06 and a beta of 1.09.

Institutional Investors Weigh In On BRC

Hedge funds have recently made changes to their positions in the company. Creative Planning acquired a new stake in shares of BRC during the third quarter worth approximately $192,000. Smith Thornton Advisors LLC acquired a new stake in BRC during the 3rd quarter valued at $45,000. Intech Investment Management LLC bought a new position in BRC in the 3rd quarter valued at $56,000. Charles Schwab Investment Management Inc. boosted its stake in BRC by 3.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 377,477 shares of the company’s stock worth $1,291,000 after purchasing an additional 13,087 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of BRC during the third quarter worth $312,000. Institutional investors and hedge funds own 16.29% of the company’s stock.

About BRC

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.