Bank of America Increases BellRing Brands (NYSE:BRBR) Price Target to $82.00

BellRing Brands (NYSE:BRBR) had its target price increased by research analysts at Bank of America from $75.00 to $82.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Bank of America‘s price objective would suggest a potential upside of 7.13% from the company’s previous close.

Several other research analysts also recently weighed in on BRBR. Needham & Company LLC reiterated a “buy” rating and set a $66.00 price target on shares of BellRing Brands in a research note on Tuesday, August 6th. JPMorgan Chase & Co. cut their price target 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. Truist Financial increased their price target on BellRing Brands from $50.00 to $60.00 and gave the stock a “hold” rating in a research note on Wednesday, October 16th. Barclays increased their price target on BellRing Brands from $68.00 to $74.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 6th. Finally, Jefferies Financial Group increased their price target on BellRing Brands from $61.00 to $84.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, BellRing Brands has an average rating of “Moderate Buy” and an average price target of $74.27.

BellRing Brands Price Performance

Shares of BellRing Brands stock opened at $76.54 on Wednesday. BellRing Brands has a 1 year low of $48.06 and a 1 year high of $76.68. The firm has a market cap of $9.89 billion, a PE ratio of 40.93, a P/E/G ratio of 1.63 and a beta of 0.84. The stock has a fifty day moving average price of $65.25 and a 200-day moving average price of $59.19.

BellRing Brands (NYSE:BRBR) last announced its earnings results on Monday, November 18th. The company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.01. BellRing Brands had a negative return on equity of 103.89% and a net margin of 12.35%. The firm had revenue of $555.80 million during the quarter, compared to analyst estimates of $545.00 million. During the same period last year, the firm posted $0.41 EPS. The business’s revenue was up 17.6% compared to the same quarter last year. As a group, equities analysts anticipate that BellRing Brands will post 2.12 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in shares of BellRing Brands by 5.3% during the 1st quarter. Vanguard Group Inc. now owns 13,978,857 shares of the company’s stock valued at $825,172,000 after acquiring an additional 698,121 shares during the last quarter. Wasatch Advisors LP boosted its position in shares of BellRing Brands by 8.0% during the 3rd quarter. Wasatch Advisors LP now owns 6,701,299 shares of the company’s stock valued at $406,903,000 after acquiring an additional 494,669 shares during the last quarter. State Street Corp boosted its position in shares of BellRing Brands by 1.3% during the 3rd quarter. State Street Corp now owns 3,886,709 shares of the company’s stock valued at $236,001,000 after acquiring an additional 50,339 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of BellRing Brands by 11.4% during the 3rd quarter. Wellington Management Group LLP now owns 2,756,722 shares of the company’s stock valued at $167,388,000 after acquiring an additional 281,667 shares during the last quarter. Finally, Point72 Asset Management L.P. boosted its position in shares of BellRing Brands by 21.5% during the 3rd quarter. Point72 Asset Management L.P. now owns 2,588,970 shares of the company’s stock valued at $157,202,000 after acquiring an additional 457,796 shares during the last quarter. Institutional investors own 94.97% of the company’s stock.

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.