BellRing Brands (NYSE:BRBR) Reaches New 52-Week High – Time to Buy?

BellRing Brands, Inc. (NYSE:BRBR)’s stock price hit a new 52-week high during trading on Wednesday . The company traded as high as $72.83 and last traded at $72.36, with a volume of 47066 shares changing hands. The stock had previously closed at $71.78.

Analysts Set New Price Targets

A number of research analysts recently commented on BRBR shares. Deutsche Bank Aktiengesellschaft lowered their price target on shares of BellRing Brands from $67.00 to $65.00 and set a “buy” rating for the company in a report on Thursday, July 25th. Needham & Company LLC reaffirmed a “buy” rating and issued a $66.00 price target on shares of BellRing Brands in a report on Tuesday, August 6th. Bank of America increased their price target on shares of BellRing Brands from $67.00 to $75.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Stephens reissued an “equal weight” rating and issued a $55.00 price objective on shares of BellRing Brands in a research note on Tuesday, August 6th. Finally, Truist Financial raised their price objective on shares of BellRing Brands from $50.00 to $60.00 and gave the stock a “hold” rating in a research note on Wednesday, October 16th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $66.14.

BellRing Brands Price Performance

The company has a market cap of $9.42 billion, a PE ratio of 42.98, a PEG ratio of 1.61 and a beta of 0.84. The business’s fifty day simple moving average is $62.98 and its two-hundred day simple moving average is $58.38.

Institutional Trading of BellRing Brands

Institutional investors and hedge funds have recently modified their holdings of the stock. Janney Montgomery Scott LLC purchased a new stake in shares of BellRing Brands in the 1st quarter valued at approximately $428,000. Envestnet Portfolio Solutions Inc. purchased a new position in BellRing Brands in the 1st quarter valued at approximately $229,000. Illinois Municipal Retirement Fund acquired a new stake in shares of BellRing Brands in the 1st quarter valued at $1,021,000. Headlands Technologies LLC raised its stake in BellRing Brands by 55.5% during the 1st quarter. Headlands Technologies LLC now owns 2,316 shares of the company’s stock worth $137,000 after acquiring an additional 827 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its position in BellRing Brands by 73.0% during the 1st quarter. Russell Investments Group Ltd. now owns 57,154 shares of the company’s stock worth $3,374,000 after purchasing an additional 24,126 shares during the last quarter. Hedge funds and other 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.