Black Rock Coffee Bar, Inc. (NASDAQ:BRCB) Receives Average Recommendation of “Hold” from Analysts

Shares of Black Rock Coffee Bar, Inc. (NASDAQ:BRCB) have been assigned an average rating of “Hold” from the eight brokerages that are covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $11.50.

BRCB has been the topic of a number of recent analyst reports. Robert W. Baird reissued a “neutral” rating and set a $10.00 price target (down from $12.00) on shares of Black Rock Coffee Bar in a report on Monday, August 24th. Raymond James Financial set a $13.00 price objective on Black Rock Coffee Bar in a research note on Wednesday, August 12th. Wall Street Zen raised shares of Black Rock Coffee Bar from a “sell” rating to a “hold” rating in a research note on Sunday, June 7th. Morgan Stanley cut shares of Black Rock Coffee Bar from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $22.00 to $9.00 in a research report on Wednesday, July 15th. Finally, Piper Sandler assumed coverage on Black Rock Coffee Bar in a report on Monday, June 8th. They issued a “neutral” rating and a $9.00 price objective on the stock.

Black Rock Coffee Bar Stock Down 3.8%

NASDAQ:BRCB opened at $8.16 on Tuesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.71 and a quick ratio of 0.62. The company’s fifty day moving average price is $8.39 and its 200-day moving average price is $10.21. Black Rock Coffee Bar has a 1-year low of $6.11 and a 1-year high of $30.40. The firm has a market capitalization of $408.57 million and a P/E ratio of 116.59.

Black Rock Coffee Bar (NASDAQ:BRCB) last posted its earnings results on Tuesday, August 11th. The company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.01). Black Rock Coffee Bar had a net margin of 0.69% and a return on equity of 1.46%. The business had revenue of $63.00 million for the quarter. As a group, equities research analysts anticipate that Black Rock Coffee Bar will post 0.21 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of BRCB. Bank of New York Mellon Corp boosted its holdings in Black Rock Coffee Bar by 50.1% during the 1st quarter. Bank of New York Mellon Corp now owns 1,161,703 shares of the company’s stock valued at $15,009,000 after acquiring an additional 387,553 shares during the period. Emerald Advisers LLC increased its stake in Black Rock Coffee Bar by 22.4% during the 1st quarter. Emerald Advisers LLC now owns 749,626 shares of the company’s stock worth $9,685,000 after buying an additional 137,133 shares during the period. Jennison Associates LLC raised its stake in shares of Black Rock Coffee Bar by 59.9% in the first quarter. Jennison Associates LLC now owns 583,806 shares of the company’s stock valued at $7,543,000 after acquiring an additional 218,692 shares in the last quarter. Emerald Mutual Fund Advisers Trust raised its position in Black Rock Coffee Bar by 29.0% in the 1st quarter. Emerald Mutual Fund Advisers Trust now owns 453,734 shares of the company’s stock valued at $5,862,000 after purchasing an additional 101,945 shares in the last quarter. Finally, Peregrine Capital Management LLC lifted its stake in Black Rock Coffee Bar by 22.0% in the first quarter. Peregrine Capital Management LLC now owns 331,702 shares of the company’s stock worth $4,286,000 after acquiring an additional 59,712 shares during the last quarter.

About Black Rock Coffee Bar

Black Rock Coffee Bar is a specialty coffee company that operates a network of drive-thru and café locations in the United States. The company focuses on convenient service and a menu built around coffee and other handcrafted beverages.

Its offerings include espresso-based drinks, brewed coffee, cold and iced beverages, teas, smoothies, energy drinks and food items such as pastries and breakfast products. Black Rock also sells branded merchandise and packaged coffee through its retail operations and digital channels.

Founded in 2008 and based in Portland, Oregon, Black Rock Coffee Bar has expanded primarily across western U.S.