BellRing Brands (NYSE:BRBR) Price Target Raised to $83.00 at Citigroup

BellRing Brands (NYSE:BRBR) had its target price upped by Citigroup from $72.00 to $83.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other equities analysts have also issued research reports about the company. Bank of America boosted their price objective on BellRing Brands from $75.00 to $82.00 and gave the stock a “buy” rating in a research note on Wednesday. Needham & Company LLC reissued a “buy” rating and issued a $66.00 price objective on shares of BellRing Brands in a report on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of BellRing Brands from $73.00 to $77.00 and gave the stock a “buy” rating in a research note on Wednesday. Jefferies Financial Group increased their price target on shares of BellRing Brands from $61.00 to $84.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Finally, Stifel Nicolaus lifted their price target on shares of BellRing Brands from $67.00 to $81.00 and gave the company a “buy” rating in a research report on Wednesday. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $74.27.

BellRing Brands Stock Up 2.8 %

BellRing Brands stock opened at $78.60 on Wednesday. The company has a fifty day simple moving average of $65.65 and a 200-day simple moving average of $59.34. The firm has a market capitalization of $10.16 billion, a price-to-earnings ratio of 42.03, a PEG ratio of 2.56 and a beta of 0.84. BellRing Brands has a 52-week low of $48.06 and a 52-week high of $78.68.

BellRing Brands (NYSE:BRBR) last announced its quarterly earnings data on Monday, November 18th. The company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.01. The company had revenue of $555.80 million during the quarter, compared to analysts’ expectations of $545.00 million. BellRing Brands had a net margin of 12.35% and a negative return on equity of 103.89%. BellRing Brands’s revenue was up 17.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.41 EPS. On average, research analysts anticipate that BellRing Brands will post 2.17 EPS for the current fiscal year.

Hedge Funds Weigh In On BellRing Brands

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

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.