BellRing Brands (NYSE:BRBR) Given New $65.00 Price Target at Barclays

BellRing Brands (NYSE:BRBR) had its price objective lifted by stock analysts at Barclays from $62.00 to $65.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s target price would suggest a potential upside of 8.99% from the stock’s current price.

Several other research analysts also recently commented on BRBR. TD Cowen raised their price objective on BellRing Brands from $64.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday. Morgan Stanley raised their target price on BellRing Brands from $61.00 to $65.00 and gave the stock an “overweight” rating in a report on Thursday, March 7th. Citigroup assumed coverage on shares of BellRing Brands in a research report on Thursday, February 1st. They set a “buy” rating and a $67.00 price target for the company. Mizuho upped their price target on BellRing Brands from $60.00 to $68.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $62.00 target price on shares of BellRing Brands in a research note on Tuesday. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $61.83.

BellRing Brands Price Performance

BellRing Brands stock traded up $1.56 during midday trading on Thursday, reaching $59.64. 307,279 shares of the company traded hands, compared to its average volume of 1,212,888. BellRing Brands has a 12 month low of $34.58 and a 12 month high of $62.76. The business has a 50 day moving average of $57.88 and a two-hundred day moving average of $54.40. The firm has a market capitalization of $7.81 billion, a price-to-earnings ratio of 47.94, a price-to-earnings-growth ratio of 2.18 and a beta of 0.85.

BellRing Brands (NYSE:BRBR) last announced its quarterly earnings data on Monday, May 6th. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.11. The business had revenue of $494.60 million during the quarter, compared to analyst estimates of $467.22 million. BellRing Brands had a net margin of 9.52% and a negative return on equity of 56.67%. The company’s revenue was up 28.3% on a year-over-year basis. During the same period last year, the firm posted $0.24 EPS. As a group, equities analysts forecast that BellRing Brands will post 1.67 EPS for the current year.

Institutional Investors Weigh In On BellRing Brands

Several hedge funds and other institutional investors have recently bought and sold shares of BRBR. Rise Advisors LLC purchased a new position in shares of BellRing Brands during the 1st quarter valued at approximately $32,000. Parallel Advisors LLC increased its position in shares of BellRing Brands by 153.6% in the 4th quarter. Parallel Advisors LLC now owns 596 shares of the company’s stock worth $33,000 after purchasing an additional 361 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of BellRing Brands in the 1st quarter valued at about $37,000. Allworth Financial LP lifted its position in shares of BellRing Brands by 59.2% during the third quarter. Allworth Financial LP now owns 1,008 shares of the company’s stock worth $42,000 after purchasing an additional 375 shares during the last quarter. Finally, Global Wealth Management Investment Advisory Inc. bought a new position in shares of BellRing Brands during the fourth quarter worth about $44,000. 94.97% of the stock is currently owned by hedge funds and other institutional investors.

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.