Needham & Company LLC Reaffirms Buy Rating for BellRing Brands (NYSE:BRBR)

Needham & Company LLC restated their buy rating on shares of BellRing Brands (NYSE:BRBR) in a research report sent to investors on Tuesday morning, Benzinga reports. They currently have a $66.00 price objective on the stock.

Several other research firms have also recently weighed in on BRBR. Stifel Nicolaus boosted their price objective on shares of BellRing Brands from $63.00 to $67.00 and gave the company a buy rating in a report on Wednesday, May 8th. Evercore ISI boosted their target price on shares of BellRing Brands from $60.00 to $65.00 and gave the company an outperform rating in a research report on Wednesday, May 8th. Barclays boosted their target price on shares of BellRing Brands from $62.00 to $65.00 and gave the company an overweight rating in a research report on Thursday, May 9th. Deutsche Bank Aktiengesellschaft cut their target price on shares of BellRing Brands from $67.00 to $65.00 and set a buy rating for the company in a research report on Thursday, July 25th. Finally, Mizuho boosted their target price on shares of BellRing Brands from $60.00 to $68.00 and gave the company a buy rating in a research report on Wednesday, May 8th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of $62.64.

BellRing Brands Stock Performance

Shares of BRBR traded down $0.47 during mid-day trading on Tuesday, hitting $54.53. 1,217,975 shares of the company traded hands, compared to its average volume of 1,372,130. The stock has a 50-day moving average price of $54.99 and a two-hundred day moving average price of $56.71. BellRing Brands has a 1 year low of $36.73 and a 1 year high of $62.76. The stock has a market cap of $7.11 billion, a price-to-earnings ratio of 37.87, a P/E/G ratio of 1.50 and a beta of 0.84.

BellRing Brands (NYSE:BRBR) last released its quarterly earnings data on Monday, August 5th. The company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.10. BellRing Brands had a net margin of 10.39% and a negative return on equity of 70.95%. The firm had revenue of $515.40 million during the quarter, compared to analysts’ expectations of $504.73 million. During the same period in the previous year, the company earned $0.34 earnings per share. The firm’s quarterly revenue was up 15.6% on a year-over-year basis. On average, analysts forecast that BellRing Brands will post 1.8 EPS for the current year.

Insiders Place Their Bets

In related news, Chairman Robert V. Vitale sold 15,000 shares of the company’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $60.15, for a total transaction of $902,250.00. Following the completion of the transaction, the chairman now owns 215,054 shares in the company, valued at $12,935,498.10. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.80% of the company’s stock.

Hedge Funds Weigh In On BellRing Brands

A number of hedge funds and other institutional investors have recently modified their holdings of BRBR. Norges Bank bought a new position in shares of BellRing Brands during the fourth quarter worth $91,936,000. Franklin Resources Inc. boosted its position in shares of BellRing Brands by 60.3% during the fourth quarter. Franklin Resources Inc. now owns 3,666,584 shares of the company’s stock worth $203,239,000 after acquiring an additional 1,379,138 shares during the last quarter. Vanguard Group Inc. raised its stake in BellRing Brands by 5.3% during the first 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 in the last quarter. Principal Financial Group Inc. raised its stake in BellRing Brands by 87.2% during the first quarter. Principal Financial Group Inc. now owns 1,088,337 shares of the company’s stock valued at $64,245,000 after purchasing an additional 506,895 shares in the last quarter. Finally, Renaissance Technologies LLC raised its stake in BellRing Brands by 47.4% during the second quarter. Renaissance Technologies LLC now owns 1,223,040 shares of the company’s stock valued at $69,885,000 after purchasing an additional 393,262 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.