BellRing Brands (NYSE:BRBR) PT Raised to $75.00 at Bank of America

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

Other equities research analysts have also issued research reports about the company. Deutsche Bank Aktiengesellschaft reduced their price objective on BellRing Brands from $67.00 to $65.00 and set a “buy” rating on the stock in a research report on Thursday, July 25th. Barclays lifted their target price on shares of BellRing Brands from $65.00 to $68.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Needham & Company LLC restated a “buy” rating and issued a $66.00 price objective on shares of BellRing Brands in a report on Tuesday, August 6th. Stephens reaffirmed an “equal weight” rating and set a $55.00 target price on shares of BellRing Brands in a report on Tuesday, August 6th. Finally, JPMorgan Chase & Co. lowered their price objective 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 eleven have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $65.36.

BellRing Brands Trading Up 0.2 %

NYSE BRBR opened at $65.75 on Tuesday. BellRing Brands has a 1 year low of $42.54 and a 1 year high of $67.12. The firm has a market capitalization of $8.58 billion, a price-to-earnings ratio of 45.66, a P/E/G ratio of 1.48 and a beta of 0.85. The firm’s 50 day simple moving average is $58.96 and its 200 day simple moving average is $57.03.

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

Institutional Trading of BellRing Brands

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. D. E. Shaw & Co. Inc. boosted its position in shares of 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 valued at $84,221,000 after buying an additional 847,161 shares during the last quarter. Vanguard Group Inc. boosted its holdings in BellRing Brands by 5.3% during the 1st 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 during the last quarter. Squarepoint Ops LLC grew its stake in shares of BellRing Brands by 665.2% in the 2nd quarter. Squarepoint Ops LLC now owns 627,361 shares of the company’s stock worth $35,847,000 after acquiring an additional 545,371 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of BellRing Brands by 87.2% in the first quarter. Principal Financial Group Inc. now owns 1,088,337 shares of the company’s stock valued at $64,245,000 after purchasing an additional 506,895 shares during the last quarter. Finally, Point72 Asset Management L.P. lifted its position in shares of 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 valued at $121,775,000 after purchasing an additional 402,666 shares in the last quarter. 94.97% of the stock is owned by 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.