BRC (NYSE:BRCC) Raised to Hold at Zacks Investment Research

BRC (NYSE:BRCCGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Monday, 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 recently commented on BRCC. Raymond James cut BRC from an “outperform” rating to a “market perform” rating in a report on Tuesday, April 5th. Truist Financial started coverage on BRC in a research note on Monday, March 7th. They set a “hold” rating and a $20.00 price target for the company. Deutsche Bank Aktiengesellschaft initiated coverage on BRC in a report on Thursday, March 31st. They set a “hold” rating and a $19.00 price objective on the stock. Citigroup initiated coverage on BRC in a report on Tuesday, March 1st. They issued a “neutral” rating and a $20.00 price target on the stock. Finally, 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. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $20.50.

BRCC stock traded down $0.81 during midday trading on Monday, reaching $10.90. 1,115,528 shares of the company were exchanged, compared to its average volume of 2,148,575. BRC has a one year low of $10.05 and a one year high of $34.00. The stock’s 50-day simple moving average is $19.15.

A number of institutional investors have recently made changes to their positions in the business. TCI Wealth Advisors Inc. purchased a new stake in shares of BRC during the first quarter worth about $35,000. Wolff Wiese Magana LLC acquired a new position in shares of BRC during the 1st quarter worth approximately $63,000. Herold Advisors Inc. acquired a new position in shares of BRC during the 1st quarter worth approximately $98,000. Commonwealth Equity Services LLC acquired a new position in BRC in the 1st quarter valued at $229,000. Finally, Wealthsource Partners LLC acquired a new position in BRC in the 1st quarter valued at $258,000. Institutional investors and hedge funds own 22.05% of the company’s stock.

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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