BellRing Brands (NYSE:BRBR) Price Target Increased to $65.00 by Analysts at Evercore ISI

BellRing Brands (NYSE:BRBR) had its price objective boosted by Evercore ISI from $60.00 to $65.00 in a research note issued to investors on Wednesday morning, Benzinga reports. Evercore ISI currently has an outperform rating on the stock.

Other analysts have also recently issued reports about the stock. Stephens reiterated an equal weight rating and issued a $53.00 target price on shares of BellRing Brands in a research note on Tuesday. Stifel Nicolaus lifted their target price on shares of BellRing Brands from $63.00 to $67.00 and gave the stock a buy rating in a research note on Wednesday. Needham & Company LLC reiterated a buy rating and issued a $62.00 target price on shares of BellRing Brands in a research note on Tuesday. Morgan Stanley lifted their price objective on shares of BellRing Brands from $61.00 to $65.00 and gave the company an overweight rating in a research note on Thursday, March 7th. Finally, Mizuho lifted their price objective on shares of BellRing Brands from $60.00 to $68.00 and gave the company a buy rating in a research note on Wednesday. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $61.83.

BellRing Brands Price Performance

NYSE BRBR traded up $1.15 during trading on Wednesday, reaching $59.23. 1,909,495 shares of the company’s stock traded hands, compared to its average volume of 1,231,092. BellRing Brands has a 12-month low of $34.58 and a 12-month high of $62.76. The firm has a market cap of $7.76 billion, a price-to-earnings ratio of 47.77, a price-to-earnings-growth ratio of 2.18 and a beta of 0.85. The company’s 50 day simple moving average is $57.88 and its two-hundred day simple moving average is $54.43.

BellRing Brands (NYSE:BRBR) last released its quarterly earnings results on Monday, May 6th. The company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.11. BellRing Brands had a net margin of 9.52% and a negative return on equity of 56.67%. The business had revenue of $494.60 million for the quarter, compared to analysts’ expectations of $467.22 million. During the same period last year, the business earned $0.24 EPS. The company’s revenue was up 28.3% compared to the same quarter last year. Research analysts expect that BellRing Brands will post 1.67 earnings per share for the current fiscal year.

Hedge Funds Weigh In On BellRing Brands

A number of large investors have recently added to or reduced their stakes in BRBR. Rise Advisors LLC purchased a new stake in shares of BellRing Brands in the first quarter valued at approximately $32,000. Parallel Advisors LLC grew its holdings in BellRing Brands by 153.6% in the 4th quarter. Parallel Advisors LLC now owns 596 shares of the company’s stock valued at $33,000 after buying an additional 361 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of BellRing Brands in the 1st quarter worth $37,000. Allworth Financial LP raised its stake in 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 period. Finally, Global Wealth Management Investment Advisory Inc. acquired a new position in BellRing Brands in the 4th quarter valued at about $44,000. 94.97% of the stock is currently owned by institutional investors and hedge funds.

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.