BellRing Brands (NYSE:BRBR) Price Target Raised to $80.00

BellRing Brands (NYSE:BRBR) had its price target hoisted by Mizuho from $72.00 to $80.00 in a research report sent to investors on Wednesday,Benzinga reports. The brokerage currently has an outperform rating on the stock.

Several other analysts also recently issued reports on the company. Barclays lifted their target price on BellRing Brands from $68.00 to $74.00 and gave the company an “overweight” rating in a research note on Wednesday, November 6th. Truist Financial upped their target price on shares of BellRing Brands from $60.00 to $75.00 and gave the stock a “hold” rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft boosted their target price on shares of BellRing Brands from $73.00 to $77.00 and gave the stock a “buy” rating in a report on Wednesday. Evercore ISI increased their price target on shares of BellRing Brands from $70.00 to $78.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, JPMorgan Chase & Co. reduced their price objective on BellRing Brands from $65.00 to $64.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 7th. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, BellRing Brands currently has an average rating of “Moderate Buy” and an average price target of $74.27.

BellRing Brands Price Performance

BRBR opened at $78.60 on Wednesday. The company has a 50 day simple moving average of $65.65 and a two-hundred day simple moving average of $59.34. The firm has a market cap of $10.16 billion, a P/E ratio of 42.03, a PEG ratio of 1.63 and a beta of 0.84. BellRing Brands has a 1-year low of $48.06 and a 1-year high of $78.68.

BellRing Brands (NYSE:BRBR) last issued its earnings results on Monday, November 18th. The company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.01. The company had revenue of $555.80 million during 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%. BellRing Brands’s quarterly revenue was up 17.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.41 EPS. Equities analysts anticipate that BellRing Brands will post 2.12 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Holocene Advisors LP purchased a new stake in BellRing Brands in the 3rd quarter valued at about $69,998,000. D. E. Shaw & Co. Inc. raised its stake 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 acquiring an additional 847,161 shares in the last quarter. Vanguard Group Inc. boosted 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 during the period. Squarepoint Ops LLC grew its stake 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 in the last quarter. Finally, E. Ohman J or Asset Management AB purchased a new position in BellRing Brands during the 3rd quarter worth $30,753,000. 94.97% of the stock is currently 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.