BellRing Brands (NYSE:BRBR) Hits New 52-Week High After Analyst Upgrade

BellRing Brands, Inc. (NYSE:BRBR)’s share price reached a new 52-week high 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 traded. The stock had previously closed at $78.60.

Several other research firms have also issued reports on BRBR. JPMorgan Chase & Co. reduced their target price on BellRing Brands from $65.00 to $64.00 and set an “overweight” rating for the company in a report on Wednesday, August 7th. Barclays boosted their price target on shares of BellRing Brands from $74.00 to $79.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. Evercore ISI lifted their price objective on shares of BellRing Brands from $70.00 to $78.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 20th. Jefferies Financial Group increased their target price on shares of BellRing Brands from $61.00 to $84.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Finally, Mizuho lifted their price target on shares of BellRing Brands from $72.00 to $80.00 and gave the stock an “outperform” rating in a report on Wednesday, November 20th. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $75.60.

Institutional Trading of BellRing Brands

A number of hedge funds and other institutional investors have recently bought and sold shares of BRBR. Opal Wealth Advisors LLC bought a new stake in BellRing Brands during the second quarter valued at $28,000. V Square Quantitative Management LLC bought a new stake in shares of BellRing Brands during the 3rd quarter valued at about $31,000. Farther Finance Advisors LLC grew its holdings in shares of BellRing Brands by 243.1% during the third quarter. Farther Finance Advisors LLC now owns 669 shares of the company’s stock worth $41,000 after purchasing an additional 474 shares in the last quarter. Truvestments Capital LLC bought a new position in shares of BellRing Brands in the third quarter worth approximately $44,000. Finally, Quarry LP raised its stake in BellRing Brands by 65.3% in the second quarter. Quarry LP now owns 957 shares of the company’s stock valued at $55,000 after purchasing an additional 378 shares in the last quarter. Institutional investors own 94.97% of the company’s stock.

BellRing Brands Price Performance

The firm has a market capitalization of $10.18 billion, a PE ratio of 42.13, a P/E/G ratio of 2.64 and a beta of 0.84. The business’s 50 day moving average is $66.39 and its two-hundred day moving average is $59.61.

BellRing Brands (NYSE:BRBR) last announced 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. BellRing Brands had a net margin of 12.35% and a negative return on equity of 103.89%. The company had revenue of $555.80 million during the quarter, compared to analyst estimates of $545.00 million. During the same period in the previous year, the business earned $0.41 earnings per share. The firm’s quarterly revenue was up 17.6% compared to the same quarter last year. Analysts expect that BellRing Brands, Inc. will post 2.16 EPS 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.