BellRing Brands, Inc. (NYSE:BRBR) Receives $61.83 Average Price Target from Brokerages

Shares of BellRing Brands, Inc. (NYSE:BRBR) have been assigned a consensus rating of “Moderate Buy” from the thirteen analysts that are presently covering the company, MarketBeat reports. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $62.23.

BRBR has been the subject of a number of research reports. TD Cowen boosted their target price on shares of BellRing Brands from $64.00 to $70.00 and gave the company a “buy” rating in a research report on Wednesday, May 8th. Needham & Company LLC reaffirmed a “buy” rating and set a $62.00 target price on shares of BellRing Brands in a report on Tuesday, May 7th. Deutsche Bank Aktiengesellschaft assumed coverage on BellRing Brands in a report on Thursday. They issued a “buy” rating and a $67.00 price target for the company. Evercore ISI lifted their target price on shares of BellRing Brands from $60.00 to $65.00 and gave the company an “outperform” rating in a report on Wednesday, May 8th. Finally, Morgan Stanley increased their price target on shares of BellRing Brands from $61.00 to $65.00 and gave the stock an “overweight” rating in a report on Thursday, March 7th.

BellRing Brands Price Performance

Shares of BRBR stock opened at $58.35 on Friday. The business has a fifty day moving average of $57.66 and a 200 day moving average of $55.58. BellRing Brands has a 1 year low of $34.58 and a 1 year high of $62.76. The firm has a market capitalization of $7.61 billion, a price-to-earnings ratio of 40.52, a price-to-earnings-growth ratio of 1.92 and a beta of 0.85.

BellRing Brands (NYSE:BRBR) last issued its earnings results on Monday, May 6th. The company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.11. BellRing Brands had a negative return on equity of 70.95% and a net margin of 10.39%. The firm had revenue of $494.60 million for the quarter, compared to analyst estimates of $467.22 million. During the same quarter in the prior year, the firm earned $0.24 earnings per share. BellRing Brands’s revenue for the quarter was up 28.3% on a year-over-year basis. As a group, equities research analysts expect that BellRing Brands will post 1.78 earnings per share for the current year.

Insider Buying and Selling

In other BellRing Brands news, Chairman Robert V. Vitale sold 15,000 shares of the firm’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $60.15, for a total value of $902,250.00. Following the transaction, the chairman now owns 215,054 shares in the company, valued at approximately $12,935,498.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.80% of the stock is owned by company insiders.

Institutional Trading of BellRing Brands

Hedge funds and other institutional investors have recently modified their holdings of the stock. Raymond James Financial Services Advisors Inc. acquired a new stake in BellRing Brands during the third quarter worth about $221,000. Strs Ohio lifted its holdings in BellRing Brands by 14.1% in the third quarter. Strs Ohio now owns 16,200 shares of the company’s stock valued at $667,000 after acquiring an additional 2,000 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in BellRing Brands by 0.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 68,764 shares of the company’s stock worth $2,835,000 after acquiring an additional 494 shares during the period. Panagora Asset Management Inc. purchased a new position in BellRing Brands in the third quarter worth approximately $248,000. Finally, Allworth Financial LP raised its position in BellRing Brands by 59.2% in the third quarter. Allworth Financial LP now owns 1,008 shares of the company’s stock valued at $42,000 after purchasing an additional 375 shares during the period. 94.97% of the stock is 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.