BellRing Brands (NYSE:BRBR) Price Target Raised to $78.00 at Evercore ISI

BellRing Brands (NYSE:BRBR) had its price objective increased by Evercore ISI from $70.00 to $78.00 in a research note released on Wednesday,Benzinga reports. They currently have an outperform rating on the stock.

Several other equities analysts have also issued reports on the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $66.00 target price on shares of BellRing Brands in a report on Tuesday, August 6th. Stifel Nicolaus upped their price objective on BellRing Brands from $67.00 to $81.00 and gave the company a “buy” rating in a research note on Wednesday. Truist Financial lifted their target price on BellRing Brands from $60.00 to $75.00 and gave the stock a “hold” rating in a research note on Wednesday. Bank of America lifted their price target on shares of BellRing Brands from $75.00 to $82.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, JPMorgan Chase & Co. decreased their target price on BellRing Brands from $65.00 to $64.00 and set an “overweight” rating for the company in a research report on Wednesday, August 7th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, BellRing Brands currently has an average rating of “Moderate Buy” and a consensus target price of $73.93.

BellRing Brands Trading Up 1.5 %

BellRing Brands stock opened at $74.38 on Wednesday. BellRing Brands has a 1-year low of $46.03 and a 1-year high of $75.44. The firm has a market capitalization of $9.61 billion, a price-to-earnings ratio of 44.54, a price-to-earnings-growth ratio of 1.61 and a beta of 0.84. The firm’s fifty day moving average price is $64.89 and its two-hundred day moving average price is $59.07.

BellRing Brands (NYSE:BRBR) last posted 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 11.55% and a negative return on equity of 88.30%. The firm had revenue of $555.80 million during the quarter, compared to analyst estimates of $545.00 million. During the same quarter in the prior year, the business posted $0.41 EPS. The business’s revenue was up 17.6% compared to the same quarter last year. On average, research analysts forecast that BellRing Brands will post 1.92 EPS for the current year.

Institutional Investors Weigh In On BellRing Brands

Institutional investors and hedge funds have recently made changes to their positions in the business. Russell Investments Group Ltd. raised its stake in BellRing Brands by 73.0% in the first quarter. Russell Investments Group Ltd. now owns 57,154 shares of the company’s stock valued at $3,374,000 after purchasing an additional 24,126 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of BellRing Brands by 5.3% in the 1st quarter. Vanguard Group Inc. now owns 13,978,857 shares of the company’s stock worth $825,172,000 after buying an additional 698,121 shares during the last quarter. Acadian Asset Management LLC increased its holdings in shares of BellRing Brands by 12.7% in the 1st quarter. Acadian Asset Management LLC now owns 8,105 shares of the company’s stock worth $478,000 after buying an additional 914 shares during the last quarter. O Shaughnessy Asset Management LLC raised its position in shares of BellRing Brands by 96.5% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 15,516 shares of the company’s stock valued at $916,000 after buying an additional 7,620 shares in the last quarter. Finally, Bessemer Group Inc. lifted its holdings in shares of BellRing Brands by 3.8% during the 1st quarter. Bessemer Group Inc. now owns 7,459 shares of the company’s stock worth $440,000 after acquiring an additional 276 shares during the last quarter. 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.