Stifel Nicolaus Initiates Coverage on Black Rock Coffee Bar (NASDAQ:BRCB)

Equities researchers at Stifel Nicolaus began coverage on shares of Black Rock Coffee Bar (NASDAQ:BRCB) in a research report issued on Monday. The brokerage set a “hold” rating and a $12.00 price target on the stock. Stifel Nicolaus‘s target price points to a potential upside of 10.39% from the company’s current price.

A number of other equities research analysts also recently weighed in on the company. Morgan Stanley downgraded Black Rock Coffee Bar from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $22.00 to $9.00 in a research report on Wednesday, July 15th. Weiss Ratings upgraded shares of Black Rock Coffee Bar from a “sell (d-)” rating to a “sell (d)” rating in a report on Friday, October 2nd. Raymond James Financial set a $13.00 price target on shares of Black Rock Coffee Bar in a research report on Wednesday, August 12th. Zacks Research cut shares of Black Rock Coffee Bar from a “hold” rating to a “strong sell” rating in a report on Thursday, October 15th. Finally, DA Davidson lowered their price target on shares of Black Rock Coffee Bar from $15.00 to $10.00 and set a “buy” rating on the stock in a report on Wednesday, August 12th. Two investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $10.50.

Black Rock Coffee Bar Stock Up 1.2%

Shares of NASDAQ BRCB traded up $0.13 during midday trading on Monday, reaching $10.87. 38,338 shares of the company’s stock traded hands, compared to its average volume of 499,504. The company has a market cap of $544.34 million, a price-to-earnings ratio of 156.01 and a beta of -0.92. The stock’s 50 day simple moving average is $8.47 and its 200-day simple moving average is $10.43. The company has a quick ratio of 0.62, a current ratio of 0.71 and a debt-to-equity ratio of 0.27. Black Rock Coffee Bar has a one year low of $6.11 and a one year high of $25.27.

Black Rock Coffee Bar (NASDAQ:BRCB) last issued its quarterly earnings data on Tuesday, August 11th. The company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.01). The business had revenue of $63.00 million during the quarter. Black Rock Coffee Bar had a return on equity of 1.46% and a net margin of 0.69%. On average, analysts predict that Black Rock Coffee Bar will post 0.20 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. boosted its holdings in Black Rock Coffee Bar by 1,199.8% in the third quarter. Russell Investments Group Ltd. now owns 84,329 shares of the company’s stock worth $601,000 after acquiring an additional 77,841 shares in the last quarter. Alkeme Wealth LLC purchased a new stake in shares of Black Rock Coffee Bar during the third quarter worth about $214,000. BlueCrest Capital Management Ltd acquired a new position in shares of Black Rock Coffee Bar during the second quarter valued at about $166,000. Engineers Gate Manager LP increased its holdings in shares of Black Rock Coffee Bar by 172.0% during the second quarter. Engineers Gate Manager LP now owns 59,909 shares of the company’s stock valued at $497,000 after acquiring an additional 37,880 shares in the last quarter. Finally, Bank of America Corp DE increased its holdings in shares of Black Rock Coffee Bar by 1.9% during the first quarter. Bank of America Corp DE now owns 143,896 shares of the company’s stock valued at $1,859,000 after acquiring an additional 2,631 shares in the last quarter.

About Black Rock Coffee Bar

Black Rock Coffee Bar is a specialty coffee company that operates a network of primarily drive-thru coffee shops in the United States. Founded in 2008 and headquartered in Portland, Oregon, the company focuses on convenient service, beverage customization and a digitally connected customer experience.

Its menu includes brewed coffee, espresso-based beverages, cold and iced drinks, teas, smoothies and energy drinks, along with a selection of food and snack items. Black Rock also offers branded merchandise and customer loyalty services through its digital platforms.

The company serves customers through locations across several U.S.