BellRing Brands (NYSE:BRBR) Given New $67.00 Price Target at Stifel Nicolaus

BellRing Brands (NYSE:BRBR) had its target price lifted by equities researchers at Stifel Nicolaus from $63.00 to $67.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Stifel Nicolaus’ price objective would indicate a potential upside of 12.19% from the stock’s current price.

Other equities research analysts have also issued research reports about the company. Morgan Stanley increased their price target on BellRing Brands from $61.00 to $65.00 and gave the stock an “overweight” rating in a research note on Thursday, March 7th. TD Cowen began coverage on BellRing Brands in a research note on Monday, April 22nd. They set a “buy” rating and a $64.00 target price on the stock. Citigroup initiated coverage on BellRing Brands in a research note on Thursday, February 1st. They issued a “buy” rating and a $67.00 price target for the company. Needham & Company LLC reissued a “buy” rating and issued a $62.00 target price on shares of BellRing Brands in a report on Tuesday. Finally, Barclays lifted their price target on BellRing Brands from $56.00 to $62.00 and gave the stock an “overweight” rating in a research report on Thursday, February 8th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $61.83.

BellRing Brands Price Performance

BellRing Brands stock traded up $0.49 during mid-day trading on Wednesday, reaching $59.72. 138,111 shares of the stock traded hands, compared to its average volume of 1,220,985. BellRing Brands has a 12-month low of $34.58 and a 12-month high of $62.76. The business’s 50-day moving average is $57.88 and its 200-day moving average is $54.43. The stock has a market capitalization of $7.82 billion, a PE ratio of 41.15, a price-to-earnings-growth ratio of 2.18 and a beta of 0.85.

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

Institutional Investors Weigh In On BellRing Brands

Large investors have recently added to or reduced their stakes in the stock. Rise Advisors LLC bought a new stake in shares of BellRing Brands during the first quarter valued at approximately $32,000. Parallel Advisors LLC lifted its holdings in shares of BellRing Brands by 153.6% in the 4th quarter. Parallel Advisors LLC now owns 596 shares of the company’s stock worth $33,000 after buying an additional 361 shares during the period. E Fund Management Hong Kong Co. Ltd. bought a new position in shares of BellRing Brands during the 1st quarter worth $37,000. Allworth Financial LP increased its stake in shares of BellRing Brands by 59.2% during the third quarter. Allworth Financial LP now owns 1,008 shares of the company’s stock valued at $42,000 after buying an additional 375 shares during the period. Finally, Global Wealth Management Investment Advisory Inc. bought a new position in BellRing Brands during the 4th quarter worth about $44,000. 94.97% of the stock is owned by hedge funds and other institutional investors.

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.