Bank of America Forecasts Strong Price Appreciation for BellRing Brands (NYSE:BRBR) Stock

BellRing Brands (NYSE:BRBR) had its price target increased by Bank of America from $75.00 to $82.00 in a report published on Wednesday,Benzinga reports. Bank of America currently has a buy rating on the stock.

Several other research analysts also recently commented on BRBR. Deutsche Bank Aktiengesellschaft raised their price objective on shares of BellRing Brands from $73.00 to $77.00 and gave the stock a “buy” rating in a report on Wednesday. Barclays lifted their price target on BellRing Brands from $68.00 to $74.00 and gave the company an “overweight” rating in a research report on Wednesday, November 6th. Stephens reissued an “equal weight” rating and set a $55.00 price objective on shares of BellRing Brands in a report on Tuesday, August 6th. DA Davidson restated a “neutral” rating and issued a $75.00 target price on shares of BellRing Brands in a research note on Tuesday, November 19th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $66.00 price target on shares of BellRing Brands in a research report on Tuesday, August 6th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, BellRing Brands has an average rating of “Moderate Buy” and a consensus price target of $74.27.

BellRing Brands Price Performance

Shares of NYSE BRBR opened at $78.60 on Wednesday. The business’s fifty day moving average price is $65.65 and its 200-day moving average price is $59.34. BellRing Brands has a one year low of $48.06 and a one year high of $78.68. The stock has a market capitalization of $10.16 billion, a PE ratio of 42.03, a P/E/G ratio of 2.56 and a beta of 0.84.

BellRing Brands (NYSE:BRBR) last released its quarterly earnings data on Monday, November 18th. The company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.50 by $0.01. The business had revenue of $555.80 million for the quarter, compared to the consensus estimate of $545.00 million. BellRing Brands had a net margin of 12.35% and a negative return on equity of 103.89%. The company’s revenue was up 17.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.41 earnings per share. As a group, equities analysts expect that BellRing Brands will post 2.17 EPS for the current fiscal year.

Institutional Trading of BellRing Brands

A number of hedge funds have recently made changes to their positions in BRBR. Russell Investments Group Ltd. raised its holdings in shares of BellRing Brands by 73.0% during the 1st quarter. Russell Investments Group Ltd. now owns 57,154 shares of the company’s stock valued at $3,374,000 after buying an additional 24,126 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of 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. Acadian Asset Management LLC lifted 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 acquiring an additional 914 shares during the last quarter. O Shaughnessy Asset Management LLC boosted its stake in shares of BellRing Brands by 96.5% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 15,516 shares of the company’s stock valued at $916,000 after purchasing an additional 7,620 shares in the last quarter. Finally, Bessemer Group Inc. grew 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 valued at $440,000 after purchasing an additional 276 shares during the last quarter. 94.97% of the stock is owned by institutional investors.

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.