BellRing Brands (NYSE:BRBR) Given New $32.00 Price Target at Bank of America

BellRing Brands (NYSE:BRBR) had its price objective lifted by investment analysts at Bank of America from $28.00 to $32.00 in a research note issued on Friday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Bank of America‘s target price points to a potential upside of 11.07% from the company’s current price.

A number of other equities research analysts have also recently issued reports on the company. Weiss Ratings reiterated a “hold (c-)” rating on shares of BellRing Brands in a research note on Monday. Morgan Stanley lowered their target price on shares of BellRing Brands from $43.00 to $41.00 and set an “overweight” rating on the stock in a report on Wednesday, November 19th. DA Davidson set a $38.00 price target on shares of BellRing Brands in a research report on Thursday, November 20th. UBS Group reissued a “neutral” rating and issued a $34.00 price objective on shares of BellRing Brands in a research report on Friday, November 28th. Finally, TD Cowen restated a “hold” rating and set a $31.00 price objective (down from $37.00) on shares of BellRing Brands in a research note on Thursday, November 20th. Eleven analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, BellRing Brands presently has a consensus rating of “Moderate Buy” and an average price target of $44.00.

BellRing Brands Trading Down 1.6%

Shares of BellRing Brands stock traded down $0.47 during trading hours on Friday, reaching $28.81. 1,579,933 shares of the company’s stock were exchanged, compared to its average volume of 2,591,748. The company has a 50 day moving average of $30.83 and a two-hundred day moving average of $41.99. BellRing Brands has a fifty-two week low of $22.45 and a fifty-two week high of $80.67. The stock has a market cap of $3.45 billion, a P/E ratio of 17.15, a P/E/G ratio of 4.01 and a beta of 0.67.

BellRing Brands (NYSE:BRBR) last released its earnings results on Tuesday, November 18th. The company reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.03). BellRing Brands had a net margin of 9.33% and a negative return on equity of 95.87%. The company had revenue of $648.20 million during the quarter, compared to analyst estimates of $633.21 million. During the same period in the prior year, the firm posted $0.51 EPS. BellRing Brands’s revenue was up 16.6% compared to the same quarter last year. As a group, analysts expect that BellRing Brands will post 2.23 earnings per share for the current fiscal year.

BellRing Brands declared that its board has authorized a stock buyback plan on Tuesday, September 2nd that authorizes the company to repurchase $400.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 7.7% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Insider Activity

In other news, insider Douglas J. Cornille sold 3,970 shares of the company’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $30.93, for a total value of $122,792.10. Following the transaction, the insider owned 54,812 shares of the company’s stock, valued at approximately $1,695,335.16. This represents a 6.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.07% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On BellRing Brands

Institutional investors have recently made changes to their positions in the stock. Raymond James Financial Inc. increased its stake in BellRing Brands by 24.7% during the 1st quarter. Raymond James Financial Inc. now owns 303,769 shares of the company’s stock worth $22,619,000 after acquiring an additional 60,130 shares during the period. Credit Agricole S A grew its holdings in shares of BellRing Brands by 5.3% during the 1st quarter. Credit Agricole S A now owns 132,323 shares of the company’s stock worth $9,853,000 after purchasing an additional 6,641 shares in the last quarter. Martingale Asset Management L P bought a new position in shares of BellRing Brands in the first quarter worth $219,000. Compound Planning Inc. raised its stake in BellRing Brands by 10.2% in the first quarter. Compound Planning Inc. now owns 4,413 shares of the company’s stock valued at $329,000 after purchasing an additional 410 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its position in BellRing Brands by 287.2% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 875 shares of the company’s stock worth $65,000 after purchasing an additional 649 shares during the period. 94.97% of the stock is currently owned by institutional investors.

BellRing Brands Company Profile

BellRing Brands, Inc is a consumer packaged goods company specializing in high?protein, better?for?you nutrition products. Formed in March 2020 as a spin?off from Post Holdings, the company focuses on delivering convenient protein solutions to health?conscious consumers through a portfolio of well?known and emerging brands.

The company’s product offerings include ready?to?drink protein shakes, protein powders, nutrition bars and other performance nutrition items. BellRing Brands’ flagship brands include Premier Protein, a line of shakes and bars designed for everyday protein supplementation, as well as Dymatize and PowerBar, which cater to athletes and active individuals seeking advanced sports nutrition formulas.

BellRing Brands markets its products primarily across North America, leveraging relationships with major retailers, wholesale clubs and e-commerce platforms to reach consumers in the United States and Canada.