BellRing Brands (NYSE:BRBR) Sets New 1-Year High After Analyst Upgrade

BellRing Brands, Inc. (NYSE:BRBR)’s share price hit a new 52-week high during mid-day trading on Thursday after Barclays raised their price target on the stock from $68.00 to $74.00. Barclays currently has an overweight rating on the stock. BellRing Brands traded as high as $69.25 and last traded at $69.07, with a volume of 61687 shares traded. The stock had previously closed at $68.10.

Other equities analysts have also issued reports about the stock. Evercore ISI upped their target price on shares of BellRing Brands from $65.00 to $70.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft reduced their price objective on BellRing Brands from $67.00 to $65.00 and set a “buy” rating on the stock in a report on Thursday, July 25th. JPMorgan Chase & Co. lowered their target price on BellRing Brands from $65.00 to $64.00 and set an “overweight” rating for the company in a research note on Wednesday, August 7th. Stephens restated an “equal weight” rating and set a $55.00 target price on shares of BellRing Brands in a research report on Tuesday, August 6th. Finally, Truist Financial raised their price target on BellRing Brands from $50.00 to $60.00 and gave the company a “hold” rating in a report on Wednesday, October 16th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $66.14.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Opal Wealth Advisors LLC acquired a new position in shares of BellRing Brands during the 2nd quarter worth approximately $28,000. V Square Quantitative Management LLC bought a new position in shares of BellRing Brands in the 3rd quarter valued at about $31,000. Farther Finance Advisors LLC lifted its stake in BellRing Brands by 243.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 669 shares of the company’s stock valued at $41,000 after purchasing an additional 474 shares during the last quarter. Quarry LP lifted its stake in BellRing Brands by 65.3% in the 2nd quarter. Quarry LP now owns 957 shares of the company’s stock valued at $55,000 after purchasing an additional 378 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in BellRing Brands by 165.3% during the second quarter. GAMMA Investing LLC now owns 987 shares of the company’s stock worth $56,000 after buying an additional 615 shares during the last quarter. Institutional investors and hedge funds own 94.97% of the company’s stock.

BellRing Brands Trading Up 1.1 %

The company has a 50 day moving average price of $61.78 and a 200 day moving average price of $57.94. The company has a market capitalization of $8.90 billion, a P/E ratio of 41.25, a P/E/G ratio of 1.58 and a beta of 0.84.

BellRing Brands (NYSE:BRBR) last issued its quarterly earnings data on Monday, August 5th. The company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.10. The firm had revenue of $515.40 million during the quarter, compared to the consensus estimate of $504.73 million. BellRing Brands had a net margin of 11.55% and a negative return on equity of 88.30%. The business’s revenue for the quarter was up 15.6% compared to the same quarter last year. During the same period last year, the business posted $0.34 earnings per share. As a group, sell-side analysts forecast that BellRing Brands, Inc. will post 1.9 EPS for the current fiscal year.

BellRing Brands Company Profile

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.