Zacks Investment Research Downgrades BRC (NYSE:BRCC) to Sell

Zacks Investment Research lowered shares of BRC (NYSE:BRCCGet Rating) from a hold rating to a sell rating in a research note released on Tuesday morning, Zacks.com reports.

According to Zacks, “Black Rifle Coffee Company is a premium coffee company. Black Rifle Coffee Company, formerly known as SilverBox Engaged Merger Corp I, is based in SALT LAKE CITY. “

Several other brokerages have also issued reports on BRCC. Truist Financial assumed coverage on BRC in a research report on Monday, March 7th. They set a hold rating and a $20.00 target price for the company. Raymond James downgraded BRC from an outperform rating to a market perform rating in a research report on Tuesday, April 5th. Telsey Advisory Group raised their price objective on BRC from $13.00 to $19.00 and gave the company an outperform rating in a report on Monday, March 14th. Citigroup initiated coverage on BRC in a report on Tuesday, March 1st. They set a neutral rating and a $20.00 price objective on the stock. Finally, DA Davidson lifted their price target on BRC from $19.00 to $24.00 in a research note on Wednesday, April 20th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of Hold and a consensus price target of $20.50.

Shares of BRCC opened at $13.84 on Tuesday. BRC has a 12-month low of $13.10 and a 12-month high of $34.00. The stock has a fifty day moving average price of $19.50.

Hedge funds have recently modified their holdings of the stock. Cannon Global Investment Management LLC bought a new stake in BRC during the 1st quarter valued at $653,000. Pinnacle Private Wealth LLC purchased a new stake in BRC during the 1st quarter valued at about $307,000. Finally, TCI Wealth Advisors Inc. purchased a new stake in BRC during the 1st quarter valued at about $35,000. 22.05% of the stock is owned by hedge funds and other institutional investors.

About BRC (Get Rating)

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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