BellRing Brands (NYSE:BRBR) Hits New 12-Month High on Analyst Upgrade

BellRing Brands, Inc. (NYSE:BRBR)’s stock price reached a new 52-week high during trading on Monday after Stephens raised their price target on the stock from $61.00 to $75.00. Stephens currently has an equal weight rating on the stock. BellRing Brands traded as high as $79.83 and last traded at $79.40, with a volume of 33830 shares. The stock had previously closed at $78.60.

Several other analysts have also issued reports on BRBR. Evercore ISI boosted their target price on BellRing Brands from $70.00 to $78.00 and gave the company an “outperform” rating in a research note on Wednesday, November 20th. Needham & Company LLC restated a “buy” rating and issued a $66.00 price objective on shares of BellRing Brands in a research note on Tuesday, August 6th. Barclays increased their target price on shares of BellRing Brands from $74.00 to $79.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. Citigroup boosted their price target on shares of BellRing Brands from $72.00 to $83.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of BellRing Brands from $73.00 to $77.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, BellRing Brands presently has an average rating of “Moderate Buy” and a consensus target price of $75.60.

Hedge Funds Weigh In On BellRing Brands

Institutional investors have recently added to or reduced their stakes in the business. Opal Wealth Advisors LLC purchased a new stake in shares of BellRing Brands during the 2nd quarter valued at $28,000. V Square Quantitative Management LLC bought a new position in BellRing Brands in the third quarter valued at $31,000. Farther Finance Advisors LLC raised its position in BellRing Brands by 243.1% during 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 in the last quarter. Truvestments Capital LLC purchased a new stake in BellRing Brands during the third quarter valued at about $44,000. Finally, Quarry LP lifted its stake in BellRing Brands by 65.3% during the second quarter. Quarry LP now owns 957 shares of the company’s stock worth $55,000 after purchasing an additional 378 shares during the last quarter. 94.97% of the stock is currently owned by institutional investors.

BellRing Brands Trading Down 2.0 %

The stock has a market capitalization of $9.95 billion, a PE ratio of 41.19, a PEG ratio of 2.64 and a beta of 0.84. The business has a fifty day moving average price of $66.01 and a 200-day moving average price of $59.48.

BellRing Brands (NYSE:BRBR) last issued its earnings results on Monday, November 18th. The company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.01. The business had revenue of $555.80 million during the quarter, compared to analyst estimates 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 revenue for the quarter was up 17.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.41 earnings per share. On average, equities analysts anticipate that BellRing Brands, Inc. will post 2.16 earnings per share for the current fiscal year.

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.