BellRing Brands (NYSE:BRBR) Given New $37.00 Price Target at TD Cowen

BellRing Brands (NYSE:BRBR) had its target price cut by investment analysts at TD Cowen from $45.00 to $37.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. TD Cowen’s price objective suggests a potential upside of 37.27% from the company’s previous close.

BRBR has been the subject of several other reports. Stifel Nicolaus cut their target price on shares of BellRing Brands from $66.00 to $56.00 and set a “buy” rating for the company in a research note on Friday, October 24th. Jefferies Financial Group increased their target price on shares of BellRing Brands from $80.00 to $82.00 and gave the stock a “buy” rating in a research report on Wednesday, July 23rd. Barclays decreased their price target on BellRing Brands from $75.00 to $50.00 and set an “overweight” rating for the company in a research note on Thursday, August 7th. UBS Group decreased their target price on BellRing Brands from $40.00 to $39.00 and set a “neutral” rating for the company in a research note on Wednesday, October 8th. Finally, Mizuho cut their price objective on BellRing Brands from $75.00 to $45.00 and set an “outperform” rating for the company in a research report on Monday, August 18th. Fourteen investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $57.56.

BellRing Brands Stock Down 2.4%

Shares of BellRing Brands stock traded down $0.66 during trading on Thursday, hitting $26.96. 1,905,227 shares of the company were exchanged, compared to its average volume of 2,361,905. The firm has a 50 day moving average price of $34.17 and a 200 day moving average price of $48.40. The stock has a market capitalization of $3.40 billion, a price-to-earnings ratio of 15.41, a P/E/G ratio of 1.57 and a beta of 0.70. BellRing Brands has a fifty-two week low of $26.83 and a fifty-two week high of $80.67.

BellRing Brands (NYSE:BRBR) last released its quarterly earnings data on Monday, February 28th. The company reported $0.22 earnings per share for the quarter. The business had revenue of $282.40 million for the quarter. BellRing Brands had a negative return on equity of 123.43% and a net margin of 10.26%. Analysts predict that BellRing Brands will post 2.23 earnings per share for the current year.

BellRing Brands announced that its Board of Directors has authorized a stock repurchase program on Tuesday, September 2nd that allows the company to repurchase $400.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 7.7% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Maseco LLP bought a new position in shares of BellRing Brands in the second quarter worth approximately $25,000. Farther Finance Advisors LLC raised its position in BellRing Brands by 132.6% during the third quarter. Farther Finance Advisors LLC now owns 735 shares of the company’s stock valued at $27,000 after purchasing an additional 419 shares in the last quarter. TCTC Holdings LLC lifted its stake in BellRing Brands by 87.6% during the first quarter. TCTC Holdings LLC now owns 407 shares of the company’s stock worth $30,000 after purchasing an additional 190 shares during the last quarter. Pilgrim Partners Asia Pte Ltd bought a new position in shares of BellRing Brands during the 3rd quarter valued at about $35,000. Finally, Smartleaf Asset Management LLC lifted its position in BellRing Brands by 149.8% in the 1st quarter. Smartleaf Asset Management LLC now owns 517 shares of the company’s stock worth $38,000 after buying an additional 310 shares during the last quarter. Hedge funds and other institutional investors own 94.97% of the company’s stock.

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.