Dutch Bros (NYSE:BROS) Given New $70.00 Price Target at Piper Sandler

Dutch Bros (NYSE:BROS) had its target price lifted by Piper Sandler from $51.00 to $70.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Piper Sandler’s price target indicates a potential downside of 15.70% from the stock’s previous close.

A number of other analysts have also recently commented on BROS. TD Securities upped their price target on shares of Dutch Bros from $65.00 to $89.00 and gave the company a “buy” rating in a research note on Thursday. UBS Group increased their target price on Dutch Bros from $67.00 to $90.00 and gave the stock a “buy” rating in a research report on Thursday. William Blair reiterated an “outperform” rating on shares of Dutch Bros in a research report on Tuesday, December 17th. Barclays raised Dutch Bros from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $38.00 to $70.00 in a report on Tuesday, January 7th. Finally, TD Cowen upped their price target on Dutch Bros from $47.00 to $53.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. One research analyst has rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Dutch Bros presently has an average rating of “Buy” and an average target price of $73.00.

Dutch Bros Stock Performance

Shares of BROS stock traded up $18.33 on Thursday, hitting $83.04. 5,572,609 shares of the stock were exchanged, compared to its average volume of 2,595,579. Dutch Bros has a one year low of $26.32 and a one year high of $86.42. The firm’s 50 day moving average is $57.76 and its two-hundred day moving average is $44.25. The firm has a market capitalization of $12.80 billion, a PE ratio of 285.96, a P/E/G ratio of 3.88 and a beta of 2.73. The company has a current ratio of 1.90, a quick ratio of 1.68 and a debt-to-equity ratio of 0.79.

Hedge Funds Weigh In On Dutch Bros

Several large investors have recently modified their holdings of BROS. Creative Planning increased its stake in Dutch Bros by 5.6% during the 2nd quarter. Creative Planning now owns 7,673 shares of the company’s stock valued at $318,000 after purchasing an additional 405 shares in the last quarter. NBC Securities Inc. bought a new position in shares of Dutch Bros in the third quarter worth approximately $177,000. Jamison Private Wealth Management Inc. grew its holdings in shares of Dutch Bros by 150.2% during the third quarter. Jamison Private Wealth Management Inc. now owns 833 shares of the company’s stock valued at $27,000 after buying an additional 500 shares during the last quarter. Bfsg LLC increased its position in shares of Dutch Bros by 11.6% during the third quarter. Bfsg LLC now owns 30,840 shares of the company’s stock valued at $988,000 after acquiring an additional 3,210 shares in the last quarter. Finally, nVerses Capital LLC purchased a new position in Dutch Bros in the 3rd quarter worth approximately $38,000. Hedge funds and other institutional investors own 85.54% of the company’s stock.

About Dutch Bros

Dutch Bros Inc, together with its subsidiaries, operates and franchises drive-thru shops in the United States. The company operates through Company-Operated Shops and Franchising and Other segments. It serves through company-operated shops and online channels under Dutch Bros; Dutch Bros Coffee; Dutch Bros Rebel; Dutch Bros; and Blue Rebel brands.