BellRing Brands (NYSE:BRBR) Price Target Raised to $82.00

BellRing Brands (NYSE:BRBR - Free Report) had its target price boosted by Bank of America from $75.00 to $82.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Several other brokerages have also recently weighed in on BRBR. Deutsche Bank Aktiengesellschaft lifted their price target on BellRing Brands from $73.00 to $77.00 and gave the company a "buy" rating in a research report on Wednesday. Barclays upped their target price on BellRing Brands from $68.00 to $74.00 and gave the company an "overweight" rating in a research report on Wednesday, November 6th. JPMorgan Chase & Co. cut their target price on BellRing Brands from $65.00 to $64.00 and set an "overweight" rating for the company in a research note on Wednesday, August 7th. Jefferies Financial Group lifted their price objective on BellRing Brands from $61.00 to $84.00 and gave the stock a "buy" rating in a report on Thursday, November 14th. Finally, DA Davidson reaffirmed a "neutral" rating and issued a $75.00 price objective on shares of BellRing Brands in a research report on Tuesday. Three research 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 has an average rating of "Moderate Buy" and an average target price of $73.93.

BellRing Brands Stock Performance

BRBR stock traded up $1.15 during midday trading on Wednesday, reaching $74.41. The company's stock had a trading volume of 1,658,489 shares, compared to its average volume of 1,210,726. The firm has a market capitalization of $9.62 billion, a price-to-earnings ratio of 44.45, a PEG ratio of 1.61 and a beta of 0.84. BellRing Brands has a 1 year low of $46.03 and a 1 year high of $75.44. The stock has a fifty day simple moving average of $64.56 and a two-hundred day simple moving average of $58.96.

BellRing Brands (NYSE:BRBR - Get Free Report) last issued its quarterly earnings data on Monday, November 18th. The company reported $0.51 earnings per share for the quarter, beating analysts' consensus estimates of $0.50 by $0.01. The company had revenue of $555.80 million for the quarter, compared to the consensus estimate of $545.00 million. BellRing Brands had a negative return on equity of 88.30% and a net margin of 11.55%. The firm's revenue for the quarter was up 17.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.41 earnings per share. As a group, analysts forecast that BellRing Brands will post 1.92 EPS for the current fiscal year.

Hedge Funds Weigh In On BellRing Brands

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its position in BellRing Brands by 3.7% in the second quarter. Dimensional Fund Advisors LP now owns 2,423,483 shares of the company's stock valued at $138,482,000 after purchasing an additional 86,992 shares in the last quarter. WINTON GROUP Ltd boosted its holdings in shares of BellRing Brands by 186.5% in the 2nd quarter. WINTON GROUP Ltd now owns 44,642 shares of the company's stock valued at $2,551,000 after buying an additional 29,060 shares during the last quarter. Braun Stacey Associates Inc. bought a new position in shares of BellRing Brands in the third quarter valued at $18,680,000. Federated Hermes Inc. raised its position in BellRing Brands by 28.0% during the second quarter. Federated Hermes Inc. now owns 474,168 shares of the company's stock worth $27,094,000 after acquiring an additional 103,604 shares in the last quarter. Finally, AQR Capital Management LLC lifted its stake in BellRing Brands by 72.3% in the second quarter. AQR Capital Management LLC now owns 532,359 shares of the company's stock valued at $30,419,000 after acquiring an additional 223,430 shares during the last quarter. 94.97% of the stock is currently owned by institutional investors and hedge funds.

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.