Dutch Bros (NYSE:BROS) Price Target Lowered to $64.00 at Bank of America

Dutch Bros (NYSE:BROSGet Rating) had its price objective reduced by equities researchers at Bank of America from $80.00 to $64.00 in a report released on Thursday, The Fly reports. Bank of America‘s target price points to a potential upside of 86.21% from the company’s previous close.

A number of other equities analysts have also commented on BROS. Gordon Haskett assumed coverage on shares of Dutch Bros in a report on Wednesday, April 13th. They issued a “buy” rating and a $64.00 price objective on the stock. Stifel Nicolaus cut Dutch Bros from a “buy” rating to a “hold” rating and cut their price target for the stock from $70.00 to $30.00 in a research note on Thursday. Piper Sandler lowered their price objective on Dutch Bros from $85.00 to $75.00 and set an “overweight” rating for the company in a research note on Tuesday, April 5th. Zacks Investment Research lowered Dutch Bros from a “buy” rating to a “hold” rating in a research report on Tuesday, May 3rd. Finally, Cowen decreased their price target on shares of Dutch Bros from $65.00 to $35.00 in a research report on Thursday. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Dutch Bros has a consensus rating of “Buy” and an average target price of $52.50.

Shares of NYSE:BROS opened at $34.37 on Thursday. The business’s 50-day simple moving average is $51.78 and its 200 day simple moving average is $52.66. The company has a current ratio of 0.43, a quick ratio of 0.27 and a debt-to-equity ratio of 0.40. Dutch Bros has a one year low of $32.42 and a one year high of $81.40.

Dutch Bros (NYSE:BROSGet Rating) last issued its quarterly earnings data on Wednesday, May 11th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.03). On average, analysts expect that Dutch Bros will post -0.05 earnings per share for the current year.

In other news, major shareholder Tsg7 A. Management Llc sold 5,000,000 shares of the stock in a transaction that occurred on Thursday, March 10th. The stock was sold at an average price of $51.47, for a total transaction of $257,350,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Brian Maxwell sold 12,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 29th. The shares were sold at an average price of $60.44, for a total value of $725,280.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,222,250 shares of company stock valued at $267,655,469.

Several hedge funds have recently added to or reduced their stakes in BROS. Glassman Wealth Services bought a new stake in Dutch Bros in the 4th quarter valued at about $25,000. Captrust Financial Advisors acquired a new stake in shares of Dutch Bros in the third quarter valued at approximately $25,000. NEXT Financial Group Inc raised its holdings in shares of Dutch Bros by 595.0% during the fourth quarter. NEXT Financial Group Inc now owns 695 shares of the company’s stock valued at $35,000 after buying an additional 595 shares during the last quarter. Patriot Financial Group Insurance Agency LLC acquired a new position in shares of Dutch Bros during the fourth quarter worth approximately $36,000. Finally, Kessler Investment Group LLC bought a new position in Dutch Bros in the 4th quarter worth approximately $39,000.

Dutch Bros Company Profile (Get Rating)

Dutch Bros Inc operates and franchises drive-thru shops. It offers Dutch Bros hot and cold espresso-based beverages, and cold brew coffee products, as well as Blue Rebel energy drinks, tea, lemonade, smoothies, and other beverages through company-operated shops and online channels. As of December 31, 2021, it operated 538 drive-thru coffee locations in Arizona, California, Colorado, Idaho, Kansas, Nevada, New Mexico, Oklahoma, Oregon, Texas, Utah, and Washington.

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