BellRing Brands (NYSE:BRBR) Price Target Raised to $70.00

BellRing Brands (NYSE:BRBR) had its price target boosted by Evercore ISI from $65.00 to $70.00 in a research report report published on Thursday, Benzinga reports. They currently have an outperform rating on the stock.

Other equities analysts have also issued reports about the company. Needham & Company LLC reiterated a “buy” rating and issued a $66.00 target price on shares of BellRing Brands in a research note on Tuesday, August 6th. Bank of America upped their price target on BellRing Brands from $67.00 to $75.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Stephens restated an “equal weight” rating and set a $55.00 price target on shares of BellRing Brands in a research note on Tuesday, August 6th. JPMorgan Chase & Co. dropped their price target on BellRing Brands from $65.00 to $64.00 and set an “overweight” rating for the company in a research note on Wednesday, August 7th. Finally, Truist Financial upped their price target on BellRing Brands from $50.00 to $60.00 and gave the stock a “hold” rating in a research note on Wednesday, October 16th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $65.71.

BellRing Brands Stock Performance

BRBR opened at $64.48 on Thursday. The business’s fifty day moving average is $60.04 and its two-hundred day moving average is $57.29. The company has a market cap of $8.41 billion, a price-to-earnings ratio of 44.78, a PEG ratio of 1.48 and a beta of 0.85. BellRing Brands has a one year low of $42.71 and a one year high of $67.12.

BellRing Brands (NYSE:BRBR) last released its quarterly earnings results on Monday, August 5th. The company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.10. BellRing Brands had a negative return on equity of 88.30% and a net margin of 11.55%. The company had revenue of $515.40 million during the quarter, compared to analysts’ expectations of $504.73 million. During the same period in the previous year, the firm posted $0.34 earnings per share. The business’s revenue for the quarter was up 15.6% compared to the same quarter last year. On average, analysts predict that BellRing Brands will post 1.9 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. SG Americas Securities LLC lifted its holdings in BellRing Brands by 1,007.4% during the 1st quarter. SG Americas Securities LLC now owns 68,349 shares of the company’s stock worth $4,035,000 after buying an additional 62,177 shares during the last quarter. Illinois Municipal Retirement Fund bought a new position in BellRing Brands during the 1st quarter worth approximately $1,021,000. Dimensional Fund Advisors LP lifted its holdings in BellRing Brands by 3.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,423,483 shares of the company’s stock worth $138,482,000 after buying an additional 86,992 shares during the last quarter. WINTON GROUP Ltd lifted its holdings in BellRing Brands by 186.5% during the 2nd quarter. WINTON GROUP Ltd now owns 44,642 shares of the company’s stock worth $2,551,000 after buying an additional 29,060 shares during the last quarter. Finally, Hodges Capital Management Inc. bought a new position in BellRing Brands during the 1st quarter worth approximately $7,415,000. Hedge funds and other institutional investors own 94.97% of the company’s stock.

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.