BellRing Brands (NYSE:BRBR) Reaches New 12-Month High on Earnings Beat

Shares of BellRing Brands, Inc. (NYSE:BRBR) hit a new 52-week high during trading on Tuesday following a stronger than expected earnings report. The company traded as high as $74.00 and last traded at $73.72, with a volume of 66432 shares trading hands. The stock had previously closed at $73.40.

The company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.01. The firm had revenue of $555.80 million during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter last year, the company posted $0.41 EPS.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on BRBR shares. Truist Financial lifted their price target on shares of BellRing Brands from $50.00 to $60.00 and gave the company a “hold” rating in a research note on Wednesday, October 16th. Needham & Company LLC restated a “buy” rating and set a $66.00 target price on shares of BellRing Brands in a report on Tuesday, August 6th. DA Davidson restated a “neutral” rating and set a $75.00 price objective on shares of BellRing Brands in a research note on Tuesday. JPMorgan Chase & Co. lowered their target price on BellRing Brands from $65.00 to $64.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on BellRing Brands from $67.00 to $65.00 and set a “buy” rating for the company in a research note on Thursday, July 25th. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $68.33.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Holocene Advisors LP bought a new stake in shares of BellRing Brands during the third quarter valued at approximately $69,998,000. D. E. Shaw & Co. Inc. increased its stake in BellRing Brands by 135.2% in 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 buying an additional 847,161 shares during the last quarter. Vanguard Group Inc. boosted its stake 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 buying an additional 698,121 shares during the last quarter. Squarepoint Ops LLC grew its stake in 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 period. Finally, E. Ohman J or Asset Management AB bought a new position in BellRing Brands during the third quarter valued at about $30,753,000. Institutional investors and hedge funds own 94.97% of the company’s stock.

BellRing Brands Stock Down 0.2 %

The firm has a market cap of $9.47 billion, a P/E ratio of 43.88, a price-to-earnings-growth ratio of 1.61 and a beta of 0.84. The firm’s 50-day simple moving average is $64.56 and its 200 day simple moving average is $58.96.

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.