TD Cowen Raises BellRing Brands (NYSE:BRBR) Price Target to $86.00

BellRing Brands (NYSE:BRBR) had its price objective raised by equities researchers at TD Cowen from $83.00 to $86.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. TD Cowen’s target price would indicate a potential upside of 18.72% from the company’s current price.

Other equities research analysts have also recently issued research reports about the stock. Bank of America lifted their price objective on shares of BellRing Brands from $75.00 to $82.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. DA Davidson reiterated a “neutral” rating and set a $75.00 target price on shares of BellRing Brands in a research report on Tuesday, November 19th. Citigroup boosted their price target on shares of BellRing Brands from $72.00 to $83.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. Barclays lifted their price objective on shares of BellRing Brands from $74.00 to $79.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. Finally, Truist Financial upped their target price on shares of BellRing Brands from $60.00 to $75.00 and gave the company a “hold” rating in a research report on Wednesday, November 20th. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $76.67.

BellRing Brands Price Performance

Shares of BRBR opened at $72.44 on Wednesday. BellRing Brands has a one year low of $48.06 and a one year high of $79.90. The business has a fifty day moving average of $74.85 and a 200 day moving average of $63.67. The firm has a market capitalization of $9.33 billion, a P/E ratio of 38.74, a PEG ratio of 2.59 and a beta of 0.86.

BellRing Brands (NYSE:BRBR) last released its earnings results on Monday, November 18th. The company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.01. The company had revenue of $555.80 million for the quarter, compared to the consensus estimate of $545.00 million. BellRing Brands had a negative return on equity of 103.89% and a net margin of 12.35%. BellRing Brands’s quarterly revenue was up 17.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.41 earnings per share. Analysts expect that BellRing Brands will post 2.16 EPS for the current fiscal year.

Institutional Investors Weigh In On BellRing Brands

Several large investors have recently modified their holdings of BRBR. Wasatch Advisors LP grew its stake in shares of BellRing Brands by 8.0% during the third quarter. Wasatch Advisors LP now owns 6,701,299 shares of the company’s stock worth $406,903,000 after acquiring an additional 494,669 shares during the last quarter. Franklin Resources Inc. boosted its stake in BellRing Brands by 9.3% in the 3rd quarter. Franklin Resources Inc. now owns 4,480,717 shares of the company’s stock worth $285,646,000 after purchasing an additional 380,216 shares in the last quarter. State Street Corp grew its position in BellRing Brands by 1.3% during the 3rd quarter. State Street Corp now owns 3,886,709 shares of the company’s stock worth $236,001,000 after purchasing an additional 50,339 shares during the last quarter. Wellington Management Group LLP increased its stake in 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 purchasing an additional 281,667 shares in the last quarter. Finally, Point72 Asset Management L.P. raised its holdings in shares of BellRing Brands by 21.5% in the third quarter. Point72 Asset Management L.P. now owns 2,588,970 shares of the company’s stock worth $157,202,000 after buying 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.