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

BellRing Brands (NYSE:BRBR - Free Report) had its price target boosted by Evercore ISI from $65.00 to $70.00 in a research report report published on Thursday, Benzinga reports. They currently have an outperform rating on the stock.

BRBR has been the subject of several other reports. Stephens reiterated an "equal weight" rating and set a $55.00 target price on shares of BellRing Brands in a report on Tuesday, August 6th. JPMorgan Chase & Co. dropped their target price on BellRing Brands from $65.00 to $64.00 and set an "overweight" rating on the stock in a report on Wednesday, August 7th. Truist Financial raised their price target on BellRing Brands from $50.00 to $60.00 and gave the company a "hold" rating in a report on Wednesday, October 16th. Bank of America upped their price target on shares of BellRing Brands from $67.00 to $75.00 and gave the stock a "buy" rating in a research note on Tuesday, October 15th. Finally, Barclays increased their price objective on shares of BellRing Brands from $65.00 to $68.00 and gave the company an "overweight" rating in a research report on Friday, October 11th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, BellRing Brands has a consensus rating of "Moderate Buy" and a consensus target price of $65.71.

BellRing Brands Stock Down 0.3 %

Shares of NYSE BRBR traded down $0.18 during midday trading on Thursday, reaching $65.07. The company had a trading volume of 564,930 shares, compared to its average volume of 1,229,169. The stock has a market cap of $8.49 billion, a PE ratio of 45.05, a price-to-earnings-growth ratio of 1.48 and a beta of 0.85. BellRing Brands has a one year low of $42.71 and a one year high of $67.12. The firm's fifty day moving average price is $59.65 and its 200-day moving average price is $57.18.

BellRing Brands (NYSE:BRBR - Get Free Report) last announced its quarterly earnings results on Monday, August 5th. The company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.10. BellRing Brands had a net margin of 11.55% and a negative return on equity of 88.30%. The company had revenue of $515.40 million for the quarter, compared to analysts' expectations of $504.73 million. During the same quarter in the previous year, the company earned $0.34 earnings per share. BellRing Brands's quarterly revenue was up 15.6% on a year-over-year basis. As a group, equities research analysts expect that BellRing Brands will post 1.9 EPS for the current year.

Hedge Funds Weigh In On BellRing Brands

Institutional investors and hedge funds have recently bought and sold shares of the stock. Opal Wealth Advisors LLC bought a new position in shares of BellRing Brands in the second quarter worth about $28,000. V Square Quantitative Management LLC bought a new stake in BellRing Brands during the 3rd quarter worth approximately $31,000. Quarry LP lifted its holdings 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 purchasing an additional 378 shares in the last quarter. GAMMA Investing LLC boosted 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 purchasing an additional 615 shares during the period. Finally, Fifth Third Bancorp increased its stake in shares of BellRing Brands by 51.4% in the second quarter. Fifth Third Bancorp now owns 1,102 shares of the company's stock worth $63,000 after purchasing an additional 374 shares in the last quarter. 94.97% of the stock is currently owned by hedge funds and other 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.