BellRing Brands (NYSE:BRBR) Reaches New 52-Week High Following Earnings Beat

Shares of BellRing Brands, Inc. (NYSE:BRBR) hit a new 52-week high during mid-day trading on Tuesday following a stronger than expected earnings report. The company traded as high as $74.00 and last traded at $73.72, with a volume of 66432 shares traded. The stock had previously closed at $73.40.

The company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.01. The business had revenue of $555.80 million during the quarter, compared to the consensus estimate of $545.00 million. BellRing Brands had a negative return on equity of 88.30% and a net margin of 11.55%. The business’s quarterly revenue was up 17.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.41 EPS.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on BRBR shares. JPMorgan Chase & Co. lowered their price target on BellRing Brands from $65.00 to $64.00 and set an “overweight” rating on the stock in a report on Wednesday, August 7th. 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. Bank of America boosted their target price on BellRing Brands from $67.00 to $75.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Jefferies Financial Group raised their price objective on BellRing Brands from $61.00 to $84.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Finally, DA Davidson restated a “neutral” rating and set a $75.00 target price on shares of BellRing Brands in a research report on Tuesday. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, BellRing Brands has an average rating of “Moderate Buy” and a consensus price target of $68.33.

Hedge Funds Weigh In On BellRing Brands

Hedge funds have recently modified their holdings of the company. Holocene Advisors LP purchased a new stake in BellRing Brands in the 3rd quarter worth about $69,998,000. D. E. Shaw & Co. Inc. increased its stake in shares of BellRing Brands by 135.2% in the second quarter. D. E. Shaw & Co. Inc. now owns 1,473,940 shares of the company’s stock worth $84,221,000 after purchasing an additional 847,161 shares during the period. Vanguard Group Inc. increased its position in BellRing Brands by 5.3% in the 1st quarter. Vanguard Group Inc. now owns 13,978,857 shares of the company’s stock worth $825,172,000 after buying an additional 698,121 shares during the period. Squarepoint Ops LLC raised its stake in BellRing Brands by 665.2% during the 2nd quarter. Squarepoint Ops LLC now owns 627,361 shares of the company’s stock valued at $35,847,000 after purchasing an additional 545,371 shares during the last quarter. Finally, E. Ohman J or Asset Management AB acquired a new position in shares of BellRing Brands during the third quarter valued at about $30,753,000. 94.97% of the stock is currently owned by institutional investors and hedge funds.

BellRing Brands Stock Performance

The company has a market cap of $9.47 billion, a P/E ratio of 43.88, a P/E/G ratio of 1.61 and a beta of 0.84. The stock has a 50-day simple moving average of $64.56 and a 200 day simple moving average of $58.96.

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.