BellRing Brands (NYSE:BRBR) Price Target Raised to $68.00 at Barclays

BellRing Brands (NYSE:BRBR) had its target price upped by Barclays from $65.00 to $68.00 in a report released on Friday morning, Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other analysts have also weighed in on BRBR. Deutsche Bank Aktiengesellschaft lowered their target price 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. Needham & Company LLC restated a buy rating and issued a $66.00 target price on shares of BellRing Brands in a research note on Tuesday, August 6th. Stephens restated an equal weight rating and issued a $55.00 target price on shares of BellRing Brands in a research note on Tuesday, August 6th. Finally, JPMorgan Chase & Co. decreased their price target on BellRing Brands from $65.00 to $64.00 and set an overweight rating on the stock in a report on Wednesday, August 7th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of $62.86.

BellRing Brands Price Performance

BellRing Brands stock opened at $63.19 on Friday. The stock has a fifty day moving average price of $57.74 and a two-hundred day moving average price of $56.78. BellRing Brands has a 52-week low of $41.50 and a 52-week high of $63.85. The firm has a market capitalization of $8.24 billion, a P/E ratio of 43.88, a P/E/G ratio of 1.48 and a beta of 0.85.

BellRing Brands (NYSE:BRBR) last announced its earnings results on Monday, August 5th. The company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.10. BellRing Brands had a negative return on equity of 88.30% and a net margin of 11.55%. The company had revenue of $515.40 million during the quarter, compared to analyst estimates of $504.73 million. During the same period last year, the company posted $0.34 earnings per share. The firm’s quarterly revenue was up 15.6% compared to the same quarter last year. On average, equities research analysts predict that BellRing Brands will post 1.9 EPS 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. D. E. Shaw & Co. Inc. boosted its holdings in BellRing Brands by 135.2% during the second quarter. D. E. Shaw & Co. Inc. now owns 1,473,940 shares of the company’s stock worth $84,221,000 after buying an additional 847,161 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of BellRing Brands by 5.3% during 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 in the last quarter. Squarepoint Ops LLC lifted its holdings in shares of BellRing Brands by 665.2% during 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 in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of BellRing Brands by 87.2% during the 1st 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, Point72 Asset Management L.P. lifted its holdings in shares of BellRing Brands by 23.3% during the 2nd quarter. Point72 Asset Management L.P. now owns 2,131,174 shares of the company’s stock valued at $121,775,000 after purchasing an additional 402,666 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.