Dutch Bros (NYSE:BROS) Lifted to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Dutch Bros (NYSE:BROS) from a hold rating to a buy rating in a research note published on Wednesday, Zacks.com reports. Zacks Investment Research currently has $56.00 price objective on the stock.

According to Zacks, “Dutch Bros Inc. is an operator and franchisor of drive-thru shops which focus on serving high QUALITY, hand-crafted beverages with unparalleled SPEED and superior SERVICE. Dutch Bros Inc. is based in GRANTS PASS, Ore. “

A number of other brokerages have also commented on BROS. Bank of America raised their target price on shares of Dutch Bros from $55.00 to $80.00 and gave the stock a buy rating in a research report on Wednesday, October 27th. Cowen raised their target price on shares of Dutch Bros from $50.00 to $70.00 and gave the stock an outperform rating in a research report on Thursday, November 11th. Jefferies Financial Group started coverage on shares of Dutch Bros in a report on Monday, October 11th. They set a buy rating and a $60.00 price objective on the stock. Stifel Nicolaus lifted their price objective on shares of Dutch Bros from $52.00 to $70.00 and gave the company a buy rating in a report on Thursday, November 11th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Dutch Bros from $47.00 to $58.00 and gave the company an overweight rating in a report on Tuesday, December 14th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of Buy and a consensus price target of $65.33.

Shares of NYSE BROS opened at $45.17 on Wednesday. The company has a quick ratio of 0.43, a current ratio of 0.61 and a debt-to-equity ratio of 0.35. Dutch Bros has a 1 year low of $32.42 and a 1 year high of $81.40. The stock has a 50-day moving average price of $52.13.

Dutch Bros (NYSE:BROS) last issued its earnings results on Wednesday, November 10th. The company reported $0.23 EPS for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.15. The company had revenue of $129.80 million for the quarter, compared to analysts’ expectations of $122.53 million. On average, sell-side analysts predict that Dutch Bros will post -1.39 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Massachusetts Financial Services Co. MA acquired a new stake in Dutch Bros in the third quarter valued at approximately $41,762,000. Franklin Resources Inc. acquired a new stake in Dutch Bros in the third quarter valued at approximately $33,357,000. Janus Henderson Group PLC acquired a new stake in Dutch Bros in the third quarter valued at approximately $29,180,000. Alliancebernstein L.P. acquired a new stake in Dutch Bros in the third quarter valued at approximately $28,865,000. Finally, Becker Capital Management Inc. acquired a new stake in Dutch Bros in the third quarter valued at approximately $19,884,000. Institutional investors own 50.58% of the company’s stock.

Dutch Bros Company Profile

Dutch Bros Inc is an operator and franchisor of drive-thru shops which focus on serving high QUALITY, hand-crafted beverages with unparalleled SPEED and superior SERVICE. Dutch Bros Inc is based in GRANTS PASS, Ore.

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