Citigroup Forecasts Strong Price Appreciation for BellRing Brands (NYSE:BRBR) Stock

BellRing Brands (NYSE:BRBR) had its price objective lifted by investment analysts at Citigroup from $72.00 to $83.00 in a report released on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s price target would suggest a potential upside of 8.44% from the stock’s previous close.

BRBR has been the subject of a number of other reports. Truist Financial upped their price target on shares of BellRing Brands from $60.00 to $75.00 and gave the company a “hold” rating in a report on Wednesday. Stephens reiterated an “equal weight” rating and set a $55.00 price target on shares of BellRing Brands in a research note on Tuesday, August 6th. Evercore ISI upped their price objective on BellRing Brands from $70.00 to $78.00 and gave the company an “outperform” rating in a research note on Wednesday. Stifel Nicolaus upped their target price on shares of BellRing Brands from $67.00 to $81.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, JPMorgan Chase & Co. dropped their price target on BellRing Brands from $65.00 to $64.00 and set an “overweight” rating for the company in a report on Wednesday, August 7th. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $74.27.

BellRing Brands Trading Up 2.9 %

BRBR opened at $76.54 on Wednesday. The stock has a market cap of $9.89 billion, a price-to-earnings ratio of 40.93, a PEG ratio of 1.63 and a beta of 0.84. BellRing Brands has a 1 year low of $48.06 and a 1 year high of $76.68. The stock has a fifty day moving average price of $65.25 and a 200 day moving average price of $59.19.

BellRing Brands (NYSE:BRBR) last released its quarterly earnings data on Monday, November 18th. The company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.01. The business had revenue of $555.80 million during the quarter, compared to analyst estimates of $545.00 million. BellRing Brands had a net margin of 12.35% and a negative return on equity of 103.89%. BellRing Brands’s quarterly revenue was up 17.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.41 EPS. As a group, sell-side analysts forecast that BellRing Brands will post 2.12 earnings per share for the current fiscal year.

Hedge Funds Weigh In On BellRing Brands

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BRBR. Russell Investments Group Ltd. grew its holdings in BellRing Brands by 73.0% during the first quarter. Russell Investments Group Ltd. now owns 57,154 shares of the company’s stock valued at $3,374,000 after purchasing an additional 24,126 shares during the period. Vanguard Group Inc. grew 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 valued at $825,172,000 after purchasing an additional 698,121 shares during the period. Acadian Asset Management LLC lifted its stake in BellRing Brands by 12.7% in the first quarter. Acadian Asset Management LLC now owns 8,105 shares of the company’s stock valued at $478,000 after buying an additional 914 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its holdings in shares of BellRing Brands by 96.5% in the first quarter. O Shaughnessy Asset Management LLC now owns 15,516 shares of the company’s stock valued at $916,000 after buying an additional 7,620 shares during the period. Finally, Bessemer Group Inc. increased its position in shares of BellRing Brands by 3.8% during the first quarter. Bessemer Group Inc. now owns 7,459 shares of the company’s stock worth $440,000 after acquiring an additional 276 shares in the last quarter. Institutional investors own 94.97% of the company’s stock.

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.