Citigroup Trims BRC (NYSE:BRCC) Target Price to $6.50

Posted by Defense World Staff on Mar 20th, 2023

BRC (NYSE:BRCC – Get Rating) had its target price cut by Citigroup from $8.00 to $6.50 in a research note released on Thursday, The Fly reports. They currently have a neutral rating on the stock.

Several other brokerages have also recently commented on BRCC. Truist Financial dropped their price target on shares of BRC to $10.00 in a research report on Wednesday, November 16th. Tigress Financial reaffirmed a buy rating and set a $19.00 target price on shares of BRC in a research note on Friday, January 20th. Finally, Telsey Advisory Group reaffirmed an outperform rating and set a $12.00 target price on shares of BRC in a research note on Monday, March 13th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, BRC presently has a consensus rating of Hold and an average target price of $10.08.

BRC Price Performance

Shares of BRC stock opened at $5.17 on Thursday. The company has a current ratio of 2.34, a quick ratio of 1.68 and a debt-to-equity ratio of 0.49. The company’s 50-day moving average price is $6.56 and its two-hundred day moving average price is $6.82. BRC has a 52 week low of $5.04 and a 52 week high of $34.00.

Insider Activity at BRC

In related news, CFO Gregory James Iverson sold 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 15th. The stock was sold at an average price of $8.03, for a total value of $401,500.00. Following the completion of the sale, the chief financial officer now owns 1,417,535 shares of the company’s stock, valued at approximately $11,382,806.05. The sale was disclosed in a document filed with the SEC, which is available at this link. 66.17% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On BRC

A number of large investors have recently added to or reduced their stakes in the stock. UBS Group AG bought a new stake in BRC during the first quarter worth approximately $28,000. Anchor Capital Advisors LLC boosted its position in BRC by 1.4% during the fourth quarter. Anchor Capital Advisors LLC now owns 111,605 shares of the company’s stock worth $682,000 after purchasing an additional 1,590 shares during the period. Tower Research Capital LLC TRC boosted its position in BRC by 251.5% during the third quarter. Tower Research Capital LLC TRC now owns 3,540 shares of the company’s stock worth $28,000 after purchasing an additional 2,533 shares during the period. Cambridge Investment Research Advisors Inc. boosted its position in BRC by 24.9% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 12,921 shares of the company’s stock worth $100,000 after purchasing an additional 2,580 shares during the period. Finally, Prelude Capital Management LLC boosted its position in BRC by 6.1% during the second quarter. Prelude Capital Management LLC now owns 70,862 shares of the company’s stock worth $578,000 after purchasing an additional 4,096 shares during the period. Institutional investors own 12.98% of the company’s stock.

BRC Company Profile

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BRC Inc, through its subsidiaries, purchases, roasts, and sells coffee, coffee accessories, and branded apparel. The company also produces media content; podcasts; and digital and print journals, as well as sells coffee brewing equipment, and outdoor and lifestyle gear. It supports active military, veterans, and first responders.

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Analyst Recommendations for BRC (NYSE:BRCC)

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