BellRing Brands (NYSE:BRBR) Given New $78.00 Price Target at Evercore ISI

BellRing Brands (NYSE:BRBR) had its target price upped by Evercore ISI from $70.00 to $78.00 in a report issued on Wednesday morning,Benzinga reports. Evercore ISI currently has an outperform rating on the stock.

BRBR has been the subject of a number of other research reports. Stephens reissued an “equal weight” rating and set a $55.00 price objective on shares of BellRing Brands in a research report on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft boosted their price target on BellRing Brands from $73.00 to $77.00 and gave the company a “buy” rating in a report on Wednesday. Truist Financial lifted their price objective on BellRing Brands from $60.00 to $75.00 and gave the company a “hold” rating in a research report on Wednesday. Bank of America boosted their price objective on BellRing Brands from $75.00 to $82.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Barclays raised their target price on shares of BellRing Brands from $68.00 to $74.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 6th. Three investment 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, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $74.27.

BellRing Brands Stock Performance

BellRing Brands stock opened at $78.60 on Wednesday. The stock has a market cap of $10.16 billion, a PE ratio of 42.03, a price-to-earnings-growth ratio of 2.56 and a beta of 0.84. The stock has a fifty day moving average of $65.65 and a 200 day moving average of $59.34. BellRing Brands has a one year low of $48.06 and a one year high of $78.68.

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in BRBR. Holocene Advisors LP bought a new position in BellRing Brands during the third quarter valued at approximately $69,998,000. D. E. Shaw & Co. Inc. boosted its position in shares of BellRing Brands by 135.2% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,473,940 shares of the company’s stock valued at $84,221,000 after acquiring an additional 847,161 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of BellRing Brands by 5.3% in the first quarter. Vanguard Group Inc. now owns 13,978,857 shares of the company’s stock valued at $825,172,000 after purchasing an additional 698,121 shares in the last quarter. Squarepoint Ops LLC increased its position in BellRing Brands by 665.2% in the second quarter. Squarepoint Ops LLC now owns 627,361 shares of the company’s stock worth $35,847,000 after purchasing an additional 545,371 shares during the last quarter. Finally, E. Ohman J or Asset Management AB purchased a new stake in BellRing Brands during the third quarter valued at $30,753,000. Hedge funds and other institutional investors own 94.97% of the company’s stock.

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.