BellRing Brands (NYSE:BRBR) Hits New 12-Month High After Better-Than-Expected Earnings

BellRing Brands, Inc. (NYSE:BRBR - Get Free Report) shares reached a new 52-week high on Tuesday following a better than expected earnings announcement. The stock traded as high as $74.00 and last traded at $73.72, with a volume of 66432 shares. The stock had previously closed at $73.40.

The company reported $0.51 EPS for the quarter, topping the consensus estimate 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 negative return on equity of 88.30% and a net margin of 11.55%. The business'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.

Wall Street Analyst Weigh In

BRBR has been the subject of a number of recent analyst reports. DA Davidson reiterated a "neutral" rating and issued a $75.00 price target on shares of BellRing Brands in a research report on Tuesday. Jefferies Financial Group increased their price target on BellRing Brands from $61.00 to $84.00 and gave the stock a "buy" rating in a research note on Thursday, November 14th. Stephens restated an "equal weight" rating and issued a $55.00 price objective on shares of BellRing Brands in a research report on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft cut their target price on BellRing Brands from $67.00 to $65.00 and set a "buy" rating for the company in a research report on Thursday, July 25th. Finally, Bank of America lifted 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. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $68.33.

Institutional Trading of BellRing Brands

Hedge funds have recently made changes to their positions in the business. Opal Wealth Advisors LLC purchased a new stake in BellRing Brands during the second quarter valued at approximately $28,000. V Square Quantitative Management LLC bought a new position in shares of BellRing Brands during the 3rd quarter valued at approximately $31,000. Farther Finance Advisors LLC raised its holdings in BellRing Brands by 243.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 669 shares of the company's stock valued at $41,000 after buying an additional 474 shares during the period. Truvestments Capital LLC bought a new stake in BellRing Brands in the third quarter worth $44,000. Finally, Quarry LP boosted its stake in BellRing Brands by 65.3% during the second quarter. Quarry LP now owns 957 shares of the company's stock worth $55,000 after buying an additional 378 shares during the period. 94.97% of the stock is currently owned by hedge funds and other institutional investors.

BellRing Brands Price Performance

The firm has a market cap of $9.47 billion, a P/E ratio of 43.87, a PEG ratio of 1.61 and a beta of 0.84. The stock's 50-day simple moving average is $64.24 and its two-hundred day simple moving average is $58.85.

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.