BellRing Brands (NYSE:BRBR) PT Raised to $70.00

BellRing Brands (NYSE:BRBR) had its price objective hoisted by stock analysts at TD Cowen from $64.00 to $70.00 in a report issued on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the stock. TD Cowen’s target price suggests a potential upside of 19.97% from the stock’s current price.

Several other analysts have also recently commented on the stock. Morgan Stanley raised their price target on shares of BellRing Brands from $61.00 to $65.00 and gave the stock an “overweight” rating in a report on Thursday, March 7th. Needham & Company LLC restated a “buy” rating and set a $62.00 price target on shares of BellRing Brands in a report on Tuesday. Evercore ISI upped their price target on shares of BellRing Brands from $60.00 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday. Citigroup began coverage on BellRing Brands in a research report on Thursday, February 1st. They set a “buy” rating and a $67.00 price objective for the company. Finally, Stifel Nicolaus upped their target price on BellRing Brands from $63.00 to $67.00 and gave the stock a “buy” rating in a research report on Wednesday. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $61.58.

BellRing Brands Trading Down 0.2 %

NYSE:BRBR traded down $0.09 during trading hours on Wednesday, hitting $58.35. 590,336 shares of the stock traded hands, compared to its average volume of 1,213,937. The firm has a 50 day moving average price of $57.88 and a 200 day moving average price of $54.40. The firm has a market cap of $7.64 billion, a price-to-earnings ratio of 47.10, a PEG ratio of 2.18 and a beta of 0.85. BellRing Brands has a fifty-two week low of $34.58 and a fifty-two week high of $62.76.

BellRing Brands (NYSE:BRBR) last announced its quarterly earnings data on Monday, May 6th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.11. BellRing Brands had a negative return on equity of 56.67% and a net margin of 9.52%. The firm had revenue of $494.60 million during the quarter, compared to the consensus estimate of $467.22 million. During the same period in the prior year, the business earned $0.24 EPS. The business’s revenue for the quarter was up 28.3% on a year-over-year basis. Research analysts predict that BellRing Brands will post 1.67 EPS for the current year.

Hedge Funds Weigh In On BellRing Brands

Several large investors have recently added to or reduced their stakes in BRBR. Rise Advisors LLC bought a new stake in BellRing Brands in the first quarter valued at about $32,000. Parallel Advisors LLC lifted its stake in BellRing Brands by 153.6% during the fourth quarter. Parallel Advisors LLC now owns 596 shares of the company’s stock worth $33,000 after purchasing an additional 361 shares during the period. E Fund Management Hong Kong Co. Ltd. acquired a new stake in BellRing Brands during the first quarter valued at approximately $37,000. Allworth Financial LP grew its stake in shares of BellRing Brands by 59.2% in the 3rd quarter. Allworth Financial LP now owns 1,008 shares of the company’s stock valued at $42,000 after purchasing an additional 375 shares during the period. Finally, Global Wealth Management Investment Advisory Inc. bought a new stake in shares of BellRing Brands in the 4th quarter valued at approximately $44,000. Institutional investors and hedge funds 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.