Barclays Boosts BellRing Brands (NYSE:BRBR) Price Target to $74.00

BellRing Brands (NYSE:BRBR) had its target price upped by stock analysts at Barclays from $68.00 to $74.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s target price points to a potential upside of 7.45% from the stock’s current price.

Several other research analysts have also recently issued reports on the company. Evercore ISI increased their price objective on BellRing Brands from $65.00 to $70.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. JPMorgan Chase & Co. reduced their price objective on shares of BellRing Brands from $65.00 to $64.00 and set an “overweight” rating for the company in a research note on Wednesday, August 7th. Needham & Company LLC reissued a “buy” rating and set a $66.00 price objective on shares of BellRing Brands in a report on Tuesday, August 6th. Stephens reaffirmed an “equal weight” rating and issued a $55.00 target price on shares of BellRing Brands in a report on Tuesday, August 6th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on BellRing Brands from $67.00 to $65.00 and set a “buy” rating on the stock in a research note on Thursday, July 25th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $66.14.

BellRing Brands Stock Up 1.1 %

NYSE BRBR opened at $68.87 on Wednesday. The stock 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 has a 52-week low of $44.37 and a 52-week high of $69.42. The firm has a 50-day moving average price of $61.78 and a 200 day moving average price of $57.94.

BellRing Brands (NYSE:BRBR) last issued its earnings results on Monday, August 5th. The company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.10. BellRing Brands had a negative return on equity of 88.30% and a net margin of 11.55%. The business had revenue of $515.40 million during the quarter, compared to the consensus estimate of $504.73 million. During the same period in the prior year, the business posted $0.34 EPS. The company’s revenue for the quarter was up 15.6% on a year-over-year basis. On average, equities research analysts expect that BellRing Brands will post 1.9 earnings per share for the current fiscal year.

Institutional Investors Weigh In On BellRing Brands

Several hedge funds have recently modified their holdings of the company. Opal Wealth Advisors LLC acquired a new stake in shares of BellRing Brands during the second quarter worth $28,000. V Square Quantitative Management LLC acquired a new stake in BellRing Brands in the 3rd quarter worth about $31,000. Farther Finance Advisors LLC grew its holdings 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 buying an additional 474 shares during the period. Quarry LP increased its stake in shares of BellRing Brands by 65.3% during the 2nd quarter. Quarry LP now owns 957 shares of the company’s stock valued at $55,000 after acquiring an additional 378 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of BellRing Brands by 165.3% during the 2nd quarter. GAMMA Investing LLC now owns 987 shares of the company’s stock valued at $56,000 after acquiring an additional 615 shares during the last quarter. 94.97% of the stock is owned by institutional investors and hedge funds.

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.