BellRing Brands (NYSE:BRBR) Price Target Raised to $75.00

BellRing Brands (NYSE:BRBR) had its price target raised by Bank of America from $67.00 to $75.00 in a research report report published on Tuesday, Benzinga reports. Bank of America currently has a buy rating on the stock.

Several other brokerages also recently commented on BRBR. Barclays raised their price objective on shares of BellRing Brands from $65.00 to $68.00 and gave the company an overweight rating in a research report on Friday, October 11th. Deutsche Bank Aktiengesellschaft decreased their price target on BellRing Brands from $67.00 to $65.00 and set a buy rating on the stock in a report on Thursday, July 25th. JPMorgan Chase & Co. dropped their price objective 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. Stephens reiterated an equal weight rating and set a $55.00 target price on shares of BellRing Brands in a research report on Tuesday, August 6th. Finally, Needham & Company LLC reissued a buy rating and issued a $66.00 price target on shares of BellRing Brands in a report on Tuesday, August 6th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of $64.64.

BellRing Brands Stock Performance

NYSE:BRBR opened at $65.83 on Tuesday. The stock has a 50-day simple moving average of $58.30 and a two-hundred day simple moving average of $56.86. BellRing Brands has a 52-week low of $42.54 and a 52-week high of $67.12. The firm has a market capitalization of $8.59 billion, a PE ratio of 45.72, a P/E/G ratio of 1.48 and a beta of 0.85.

BellRing Brands (NYSE:BRBR) last announced its quarterly earnings data on Monday, August 5th. The company reported $0.54 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $504.73 million. During the same period in the previous year, the company posted $0.34 EPS. The firm’s revenue was up 15.6% on a year-over-year basis. Equities analysts forecast that BellRing Brands will post 1.9 earnings per share for the current fiscal year.

Institutional Trading of BellRing Brands

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in BellRing Brands by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 13,280,736 shares of the company’s stock valued at $736,151,000 after purchasing an additional 155,252 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of BellRing Brands in the 4th quarter worth $3,331,000. NBC Securities Inc. increased its holdings in shares of BellRing Brands by 435.2% in the 1st quarter. NBC Securities Inc. now owns 1,932 shares of the company’s stock worth $114,000 after buying an additional 1,571 shares during the last quarter. First Hawaiian Bank purchased a new stake in shares of BellRing Brands during the 1st quarter valued at about $375,000. Finally, Rise Advisors LLC bought a new position in shares of BellRing Brands in the 1st quarter valued at about $32,000. 94.97% of the stock is 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.