TD Cowen Issues Positive Forecast for BellRing Brands (NYSE:BRBR) Stock Price

BellRing Brands (NYSE:BRBR) had its price target raised by TD Cowen from $83.00 to $86.00 in a research report released on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

Several other equities analysts have also recently weighed in on the stock. Bank of America increased their price objective on shares of BellRing Brands from $75.00 to $82.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. Citigroup lifted their price target on shares of BellRing Brands from $72.00 to $83.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. Jefferies Financial Group upped their price objective on BellRing Brands from $61.00 to $84.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Truist Financial lifted their target price on BellRing Brands from $60.00 to $75.00 and gave the company a “hold” rating in a research report on Wednesday, November 20th. Finally, Evercore ISI upped their price target on BellRing Brands from $70.00 to $78.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 20th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, BellRing Brands presently has a consensus rating of “Moderate Buy” and a consensus price target of $76.67.

BellRing Brands Price Performance

BellRing Brands stock opened at $72.44 on Wednesday. BellRing Brands has a one year low of $48.06 and a one year high of $79.90. The business’s fifty day moving average is $74.72 and its 200 day moving average is $63.61. The stock has a market capitalization of $9.33 billion, a PE ratio of 38.74, a price-to-earnings-growth ratio of 2.59 and a beta of 0.86.

BellRing Brands (NYSE:BRBR) last announced its quarterly earnings results on Monday, November 18th. The company reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.01. The firm 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 business’s quarterly revenue was up 17.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.41 EPS. As a group, sell-side analysts expect that BellRing Brands will post 2.16 EPS for the current fiscal year.

Hedge Funds Weigh In On BellRing Brands

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BRBR. Arizona State Retirement System boosted its position in shares of BellRing Brands by 1.7% during the 2nd quarter. Arizona State Retirement System now owns 36,668 shares of the company’s stock valued at $2,095,000 after acquiring an additional 620 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new position in BellRing Brands during the second quarter valued at $188,000. Prudential PLC grew its stake in shares of BellRing Brands by 3.0% in the 2nd quarter. Prudential PLC now owns 103,356 shares of the company’s stock worth $5,906,000 after buying an additional 3,044 shares in the last quarter. Daiwa Securities Group Inc. purchased a new stake in shares of BellRing Brands during the 2nd quarter valued at about $206,000. Finally, Headlands Technologies LLC lifted its holdings in shares of BellRing Brands by 200.0% in the 2nd quarter. Headlands Technologies LLC now owns 6,949 shares of the company’s stock valued at $397,000 after acquiring an additional 4,633 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.