BellRing Brands (NYSE:BRBR) PT Raised to $60.00

BellRing Brands (NYSE:BRBR) had its price objective hoisted by Truist Financial from $50.00 to $60.00 in a report released on Wednesday morning, Benzinga reports. The brokerage currently has a hold rating on the stock.

BRBR has been the topic of several other reports. Stephens reiterated an “equal weight” rating and set a $55.00 price target on shares of BellRing Brands in a research report on Tuesday, August 6th. Barclays upped their target price on shares of BellRing Brands from $65.00 to $68.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of BellRing Brands from $67.00 to $65.00 and set a “buy” rating on the stock in a research note on Thursday, July 25th. JPMorgan Chase & Co. decreased their price target on shares of BellRing Brands from $65.00 to $64.00 and set an “overweight” rating on the stock in a report on Wednesday, August 7th. Finally, Bank of America boosted their target price on BellRing Brands from $67.00 to $75.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $65.36.

BellRing Brands Stock Up 0.2 %

NYSE BRBR opened at $65.75 on Wednesday. The firm has a market cap of $8.58 billion, a P/E ratio of 45.66, a price-to-earnings-growth ratio of 1.48 and a beta of 0.85. The company’s 50 day moving average is $58.96 and its 200-day moving average is $57.02. BellRing Brands has a 12-month low of $42.54 and a 12-month high of $67.12.

BellRing Brands (NYSE:BRBR) last released its quarterly earnings data on Monday, August 5th. The company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.10. BellRing Brands had a net margin of 11.55% and a negative return on equity of 88.30%. The business had revenue of $515.40 million during the quarter, compared to analyst estimates of $504.73 million. During the same period in the previous year, the business earned $0.34 EPS. BellRing Brands’s revenue was up 15.6% compared to the same quarter last year. Equities analysts expect that BellRing Brands will post 1.9 EPS for the current year.

Institutional Trading of BellRing Brands

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Opal Wealth Advisors LLC bought a new stake in shares of BellRing Brands in the 2nd quarter worth approximately $28,000. V Square Quantitative Management LLC bought a new stake in BellRing Brands in the third quarter worth $31,000. Rise Advisors LLC purchased a new stake in BellRing Brands during the first quarter valued at about $32,000. Quarry LP boosted its position in BellRing Brands by 65.3% during the second quarter. Quarry LP now owns 957 shares of the company’s stock valued at $55,000 after buying an additional 378 shares during the period. Finally, GAMMA Investing LLC grew its stake in shares of BellRing Brands by 165.3% during the second quarter. GAMMA Investing LLC now owns 987 shares of the company’s stock valued at $56,000 after buying an additional 615 shares during the last quarter. Hedge funds and other institutional investors own 94.97% of the company’s stock.

About BellRing Brands

BellRing Brands, Inc, together with its subsidiaries, provides various nutrition products in the United States. The company offers ready-to-drink (RTD) protein shakes, other RTD beverages, powders, nutrition bars, and other products primarily under the Premier Protein and Dymatize brands. It distributes its products through club, food, drug, mass, eCommerce, specialty, and convenience channels.