BellRing Brands (NYSE:BRBR) Given New $82.00 Price Target at Bank of America

BellRing Brands (NYSE:BRBR) had its price target raised by Bank of America from $75.00 to $82.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other equities analysts have also weighed in on the company. Deutsche Bank Aktiengesellschaft increased their target price on BellRing Brands from $73.00 to $77.00 and gave the stock a “buy” rating in a research note on Wednesday. JPMorgan Chase & Co. dropped their price objective on shares of BellRing Brands from $65.00 to $64.00 and set an “overweight” rating for the company in a research note on Wednesday, August 7th. Evercore ISI increased their target price on shares of BellRing Brands from $65.00 to $70.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Barclays lifted their price target on shares of BellRing Brands from $68.00 to $74.00 and gave the company an “overweight” rating in a research report on Wednesday, November 6th. Finally, Truist Financial lifted their price objective on BellRing Brands from $50.00 to $60.00 and gave the company a “hold” rating in a report on Wednesday, October 16th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, BellRing Brands presently has an average rating of “Moderate Buy” and an average price target of $73.93.

BellRing Brands Stock Up 1.5 %

Shares of NYSE BRBR opened at $74.38 on Wednesday. BellRing Brands has a twelve month low of $46.03 and a twelve month high of $75.44. The company has a market cap of $9.61 billion, a PE ratio of 44.54, a price-to-earnings-growth ratio of 1.61 and a beta of 0.84. The business’s 50 day moving average price is $64.89 and its two-hundred day moving average price is $59.07.

BellRing Brands (NYSE:BRBR) last released its quarterly earnings data on Monday, November 18th. The company reported $0.51 EPS for the quarter, beating 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 net margin of 11.55% and a negative return on equity of 88.30%. The company’s quarterly revenue was up 17.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.41 earnings per share. As a group, research analysts anticipate that BellRing Brands will post 1.92 EPS for the current fiscal year.

Hedge Funds Weigh In On BellRing Brands

Several large investors have recently modified their holdings of the business. Holocene Advisors LP acquired a new stake in BellRing Brands in the third quarter valued at $69,998,000. D. E. Shaw & Co. Inc. increased its position in BellRing Brands by 135.2% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,473,940 shares of the company’s stock valued at $84,221,000 after purchasing an additional 847,161 shares during the period. Vanguard Group Inc. lifted its position in shares of BellRing Brands by 5.3% in the 1st quarter. Vanguard Group Inc. now owns 13,978,857 shares of the company’s stock worth $825,172,000 after purchasing an additional 698,121 shares during the period. Squarepoint Ops LLC boosted its stake in shares of BellRing Brands by 665.2% in the 2nd quarter. Squarepoint Ops LLC now owns 627,361 shares of the company’s stock valued at $35,847,000 after purchasing an additional 545,371 shares during the last quarter. Finally, E. Ohman J or Asset Management AB acquired a new stake in shares of BellRing Brands during the third quarter worth $30,753,000. Institutional investors own 94.97% of the company’s stock.

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.