BellRing Brands (NYSE:BRBR) PT Raised to $70.00

BellRing Brands (NYSE:BRBR) had its price target raised by Evercore ISI from $65.00 to $70.00 in a research report sent to investors on Thursday, Benzinga reports. Evercore ISI currently has an outperform rating on the stock.

Other equities research analysts have also issued research reports about the company. Bank of America upped their target price on BellRing Brands from $67.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Needham & Company LLC restated a “buy” rating and issued a $66.00 price objective on shares of BellRing Brands in a research report on Tuesday, August 6th. Stephens reaffirmed an “equal weight” rating and set a $55.00 price objective on shares of BellRing Brands in a research note on Tuesday, August 6th. Barclays boosted their target price on shares of BellRing Brands from $65.00 to $68.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Finally, JPMorgan Chase & Co. decreased their price target on shares of 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 research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $65.71.

BellRing Brands Stock Down 1.2 %

Shares of BRBR traded down $0.79 on Thursday, reaching $64.28. The stock had a trading volume of 157,876 shares, compared to its average volume of 1,223,869. The firm has a 50-day moving average of $59.65 and a 200 day moving average of $57.18. The firm has a market capitalization of $8.38 billion, a PE ratio of 45.19, a PEG ratio of 1.48 and a beta of 0.85. BellRing Brands has a twelve month low of $42.71 and a twelve month high of $67.12.

BellRing Brands (NYSE:BRBR) last announced its quarterly earnings results on Monday, August 5th. The company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.10. BellRing Brands had a negative return on equity of 88.30% and a net margin of 11.55%. The business had revenue of $515.40 million during the quarter, compared to analysts’ expectations of $504.73 million. During the same quarter last year, the business posted $0.34 earnings per share. The business’s revenue for the quarter was up 15.6% on a year-over-year basis. On average, sell-side analysts anticipate that BellRing Brands will post 1.9 earnings per share for the current fiscal year.

Hedge Funds Weigh In On BellRing Brands

A number of hedge funds have recently made changes to their positions in the stock. Opal Wealth Advisors LLC acquired a new stake in BellRing Brands during the second quarter worth about $28,000. V Square Quantitative Management LLC acquired a new position in BellRing Brands during the third quarter valued at approximately $31,000. Quarry LP lifted its position in BellRing Brands by 65.3% during the second quarter. Quarry LP now owns 957 shares of the company’s stock valued at $55,000 after buying an additional 378 shares in the last quarter. GAMMA Investing LLC increased its position in shares of BellRing Brands by 165.3% in the second quarter. GAMMA Investing LLC now owns 987 shares of the company’s stock worth $56,000 after acquiring an additional 615 shares in the last quarter. Finally, Fifth Third Bancorp raised its stake in shares of BellRing Brands by 51.4% in the 2nd quarter. Fifth Third Bancorp now owns 1,102 shares of the company’s stock valued at $63,000 after acquiring an additional 374 shares during the period. Institutional investors and hedge funds own 94.97% of the company’s stock.

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.