Truist Financial Raises BellRing Brands (NYSE:BRBR) Price Target to $60.00

BellRing Brands (NYSE:BRBR) had its price objective increased by Truist Financial from $50.00 to $60.00 in a report issued on Wednesday, Benzinga reports. They currently have a hold rating on the stock.

A number of other equities research analysts have also recently issued reports on the company. Needham & Company LLC reaffirmed a “buy” rating and set a $66.00 target price on shares of BellRing Brands in a research report on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft cut their price target on BellRing Brands from $67.00 to $65.00 and set a “buy” rating for the company in a report on Thursday, July 25th. Stephens reiterated an “equal weight” rating and set a $55.00 price target on shares of BellRing Brands in a report 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 report on Tuesday. Finally, Barclays upped their price target on BellRing Brands from $65.00 to $68.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $65.36.

BellRing Brands Stock Up 0.2 %

Shares of BellRing Brands stock opened at $65.75 on Wednesday. The stock has a market capitalization of $8.58 billion, a P/E ratio of 45.66, a PEG ratio of 1.48 and a beta of 0.85. The stock has a 50 day moving average price of $58.96 and a two-hundred day moving average price of $57.03. BellRing Brands has a 12-month low of $42.54 and a 12-month high of $67.12.

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

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in BellRing Brands by 5.3% during the first quarter. Vanguard Group Inc. now owns 13,978,857 shares of the company’s stock worth $825,172,000 after acquiring an additional 698,121 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in BellRing Brands by 3.7% during the second quarter. Dimensional Fund Advisors LP now owns 2,423,483 shares of the company’s stock worth $138,482,000 after acquiring an additional 86,992 shares in the last quarter. Point72 Asset Management L.P. raised its stake in BellRing Brands by 23.3% during the second quarter. Point72 Asset Management L.P. now owns 2,131,174 shares of the company’s stock worth $121,775,000 after acquiring an additional 402,666 shares in the last quarter. Driehaus Capital Management LLC raised its stake in BellRing Brands by 4.6% during the second quarter. Driehaus Capital Management LLC now owns 2,064,167 shares of the company’s stock worth $117,947,000 after acquiring an additional 91,149 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. raised its stake in BellRing Brands by 135.2% during the second quarter. D. E. Shaw & Co. Inc. now owns 1,473,940 shares of the company’s stock worth $84,221,000 after acquiring an additional 847,161 shares in the last quarter. 94.97% of the stock is currently owned by institutional investors and hedge funds.

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.