BellRing Brands (NYSE:BRBR) Reaches New 12-Month High – Still a Buy?

Shares of BellRing Brands, Inc. (NYSE:BRBR) hit a new 52-week high on Friday . The stock traded as high as $67.53 and last traded at $67.41, with a volume of 132041 shares changing hands. The stock had previously closed at $65.83.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on BRBR shares. Barclays lifted their price target on BellRing Brands from $65.00 to $68.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Needham & Company LLC reissued a “buy” rating and issued a $66.00 price objective on shares of BellRing Brands in a report on Tuesday, August 6th. Evercore ISI raised their price objective on BellRing Brands from $65.00 to $70.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Bank of America raised their price objective on BellRing Brands from $67.00 to $75.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Finally, JPMorgan Chase & Co. dropped their price objective on BellRing Brands from $65.00 to $64.00 and set an “overweight” rating on the stock in a report on Wednesday, August 7th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, BellRing Brands has an average rating of “Moderate Buy” and a consensus price target of $65.71.

BellRing Brands Trading Up 1.3 %

The stock has a market capitalization of $8.62 billion, a PE ratio of 39.93, a P/E/G ratio of 1.56 and a beta of 0.84. The firm has a 50 day moving average of $61.10 and a two-hundred day moving average of $57.66.

BellRing Brands (NYSE:BRBR) last announced its earnings results on Monday, August 5th. The company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.10. The firm had revenue of $515.40 million for the quarter, compared to analysts’ expectations of $504.73 million. BellRing Brands had a negative return on equity of 88.30% and a net margin of 11.55%. BellRing Brands’s quarterly revenue was up 15.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.34 EPS. Equities research analysts forecast that BellRing Brands, Inc. will post 1.9 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Opal Wealth Advisors LLC purchased a new position in BellRing Brands in the second quarter valued at about $28,000. V Square Quantitative Management LLC purchased a new position in BellRing Brands in the third quarter valued at about $31,000. Farther Finance Advisors LLC raised its position in BellRing Brands by 243.1% in the third 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 period. Quarry LP raised its position in BellRing Brands by 65.3% in the second quarter. Quarry LP now owns 957 shares of the company’s stock valued at $55,000 after purchasing an additional 378 shares during the period. Finally, GAMMA Investing LLC raised its position in BellRing Brands by 165.3% in the second quarter. GAMMA Investing LLC now owns 987 shares of the company’s stock valued at $56,000 after purchasing an additional 615 shares during the period. 94.97% of the stock is owned by hedge funds and other institutional investors.

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.