BellRing Brands (NYSE:BRBR) Price Target Raised to $78.00

BellRing Brands (NYSE:BRBR) had its price objective lifted by Evercore ISI from $70.00 to $78.00 in a research report sent to investors on Wednesday,Benzinga reports. Evercore ISI currently has an outperform rating on the stock.

Several other research firms have also issued reports on BRBR. Barclays upped their target price on BellRing Brands from $68.00 to $74.00 and gave the stock an “overweight” rating in a report on Wednesday, November 6th. Bank of America upped their price objective on BellRing Brands from $75.00 to $82.00 and gave the stock a “buy” rating in a research note on Wednesday. Truist Financial raised their target price on shares of BellRing Brands from $60.00 to $75.00 and gave the company a “hold” rating in a research note on Wednesday. DA Davidson reaffirmed a “neutral” rating and set a $75.00 price target on shares of BellRing Brands in a research report on Tuesday. Finally, JPMorgan Chase & Co. decreased 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 report on Wednesday, August 7th. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $74.27.

BellRing Brands Stock Up 2.8 %

Shares of BRBR opened at $78.60 on Wednesday. BellRing Brands has a twelve month low of $48.06 and a twelve month high of $78.68. The stock has a market capitalization of $10.16 billion, a P/E ratio of 42.03, a P/E/G ratio of 1.63 and a beta of 0.84. The company has a 50 day moving average of $65.65 and a 200-day moving average of $59.34.

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

Hedge Funds Weigh In On BellRing Brands

Institutional investors and hedge funds have recently made changes to their positions in the company. Opal Wealth Advisors LLC bought a new stake in BellRing Brands in the 2nd quarter valued at $28,000. V Square Quantitative Management LLC bought a new position in BellRing Brands during the 3rd quarter worth $31,000. Farther Finance Advisors LLC lifted its holdings in shares of BellRing Brands by 243.1% during the third quarter. Farther Finance Advisors LLC now owns 669 shares of the company’s stock worth $41,000 after buying an additional 474 shares in the last quarter. Truvestments Capital LLC bought a new stake in shares of BellRing Brands in the third quarter valued at about $44,000. Finally, Quarry LP grew its stake in shares of BellRing Brands by 65.3% in the second quarter. Quarry LP now owns 957 shares of the company’s stock valued at $55,000 after acquiring an additional 378 shares in the last quarter. Institutional investors and hedge funds 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.