BRC (NYSE:BRCC) Announces Earnings Results

BRC (NYSE:BRCC) released its quarterly earnings data on Monday. The company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.01, Zacks reports. The company had revenue of $98.20 million during the quarter, compared to analysts’ expectations of $95.06 million. BRC had a positive return on equity of 17.53% and a negative net margin of 1.88%. During the same period last year, the firm posted ($0.05) earnings per share. BRC updated its FY 2024 guidance to EPS.

BRC Price Performance

Shares of BRCC stock traded up $0.19 during trading on Tuesday, hitting $3.35. The company had a trading volume of 945,467 shares, compared to its average volume of 892,932. The firm has a market capitalization of $711.94 million, a P/E ratio of -27.75 and a beta of 1.16. BRC has a one year low of $2.60 and a one year high of $7.14. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.59 and a current ratio of 1.07. The stock’s 50-day moving average price is $3.52 and its 200 day moving average price is $4.67.

Analysts Set New Price Targets

A number of analysts have recently issued reports on BRCC shares. DA Davidson restated a “buy” rating and set a $5.50 target price on shares of BRC in a research note on Wednesday, September 18th. Roth Mkm cut BRC from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $8.00 to $4.00 in a report on Friday, August 9th. Roth Capital lowered BRC from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 9th. Finally, Telsey Advisory Group restated an “outperform” rating and issued a $6.00 price target on shares of BRC in a research note on Thursday, October 31st. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $6.63.

Insiders Place Their Bets

In other news, Director Evan Hafer sold 3,000,000 shares of the stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $3.20, for a total transaction of $9,600,000.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director Thomas E. Davin sold 10,884 shares of BRC stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $3.81, for a total value of $41,468.04. Following the transaction, the director now directly owns 15,851 shares of the company’s stock, valued at $60,392.31. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Evan Hafer sold 3,000,000 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $3.20, for a total value of $9,600,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 4,010,884 shares of company stock worth $12,811,468 in the last 90 days. Company insiders own 73.80% 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.