Black Rock Coffee Bar (NASDAQ:BRCB) Posts Earnings Results

Black Rock Coffee Bar (NASDAQ:BRCB) issued its quarterly earnings results on Tuesday. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.19, Zacks reports.

Black Rock Coffee Bar Stock Performance

NASDAQ:BRCB traded down $0.06 during trading hours on Tuesday, hitting $24.35. The company had a trading volume of 305,407 shares, compared to its average volume of 400,728. Black Rock Coffee Bar has a 1 year low of $20.39 and a 1 year high of $30.40.

Institutional Investors Weigh In On Black Rock Coffee Bar

A hedge fund recently bought a new stake in Black Rock Coffee Bar stock. JPMorgan Chase & Co. acquired a new position in shares of Black Rock Coffee Bar, Inc. (NASDAQ:BRCB) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 30,892 shares of the company’s stock, valued at approximately $737,000. JPMorgan Chase & Co. owned about 0.06% of Black Rock Coffee Bar at the end of the most recent quarter.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on BRCB shares. Raymond James Financial reaffirmed an “outperform” rating and set a $28.00 target price (up previously from $26.00) on shares of Black Rock Coffee Bar in a research note on Thursday, October 16th. Zacks Research raised shares of Black Rock Coffee Bar to a “hold” rating in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $28.00.

About Black Rock Coffee Bar

Our Mission: To Fuel People Forward – One Connection, One Moment, One Cup at a Time We are a high-growth operator of guest-centric, drive-thru coffee bars offering premium caffeinated beverages and an elevated in-store experience crafted by our engaging baristas. Black Rock Coffee Bar was founded in 2008 in Beaverton, Oregon, by our co-founders Daniel Brand and Jeff Hernandez.