BellRing Brands (NYSE:BRBR) Upgraded to Strong-Buy at DA Davidson

DA Davidson upgraded shares of BellRing Brands (NYSE:BRBR) to a strong-buy rating in a research note published on Monday,Zacks.com reports.

Several other research firms have also recently issued reports on BRBR. UBS Group decreased their price objective on BellRing Brands from $19.00 to $12.00 and set a “neutral” rating on the stock in a report on Wednesday, May 6th. Sanford C. Bernstein lowered BellRing Brands from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $35.00 to $11.00 in a research note on Wednesday, May 6th. Jefferies Financial Group reduced their target price on BellRing Brands from $38.00 to $28.00 and set a “buy” rating on the stock in a research report on Monday, March 16th. Zacks Research lowered BellRing Brands from a “hold” rating to a “strong sell” rating in a research note on Thursday, May 7th. Finally, Bank of America lowered their price target on BellRing Brands from $22.00 to $19.00 and set a “neutral” rating for the company in a report on Friday, April 10th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $22.47.

BellRing Brands Trading Up 5.2%

Shares of BellRing Brands stock traded up $0.70 during mid-day trading on Monday, hitting $14.15. 2,364,686 shares of the stock were exchanged, compared to its average volume of 4,727,769. BellRing Brands has a twelve month low of $7.82 and a twelve month high of $59.10. The stock has a market capitalization of $1.65 billion, a price-to-earnings ratio of 10.91, a price-to-earnings-growth ratio of 6.83 and a beta of 0.45. The company has a 50-day simple moving average of $10.70 and a 200 day simple moving average of $17.21.

BellRing Brands (NYSE:BRBR) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.17). The firm had revenue of $598.70 million during the quarter, compared to analyst estimates of $608.88 million. BellRing Brands had a net margin of 6.78% and a negative return on equity of 44.06%. The business’s quarterly revenue was up 1.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.53 EPS. Equities research analysts forecast that BellRing Brands will post 1.22 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other BellRing Brands news, Director David Isaiah Finkelstein acquired 4,000 shares of the stock in a transaction on Wednesday, May 13th. The stock was purchased at an average price of $9.23 per share, for a total transaction of $36,920.00. Following the purchase, the director directly owned 13,326 shares in the company, valued at $122,998.98. This trade represents a 42.89% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On BellRing Brands

Several large investors have recently modified their holdings of the stock. Capital Research Global Investors purchased a new stake in BellRing Brands in the 3rd quarter worth $172,312,000. AQR Capital Management LLC grew its position in shares of BellRing Brands by 86.9% during the fourth quarter. AQR Capital Management LLC now owns 7,006,847 shares of the company’s stock valued at $187,013,000 after purchasing an additional 3,258,035 shares in the last quarter. Alyeska Investment Group L.P. bought a new stake in shares of BellRing Brands in the third quarter worth about $98,944,000. The Manufacturers Life Insurance Company increased its holdings in shares of BellRing Brands by 156.3% in the fourth quarter. The Manufacturers Life Insurance Company now owns 3,830,164 shares of the company’s stock worth $102,380,000 after purchasing an additional 2,336,029 shares during the last quarter. Finally, River Road Asset Management LLC purchased a new stake in shares of BellRing Brands in the fourth quarter worth about $56,465,000. Institutional investors own 94.97% of the company’s stock.

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.