Barclays Increases BellRing Brands (NYSE:BRBR) Price Target to $79.00

BellRing Brands (NYSE:BRBR) had its price target raised by research analysts at Barclays from $74.00 to $79.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s price objective would indicate a potential upside of 0.51% from the company’s previous close.

A number of other brokerages also recently issued reports on BRBR. Bank of America raised their price objective on BellRing Brands from $75.00 to $82.00 and gave the stock a “buy” rating in a research report on Wednesday. Citigroup boosted their price target on shares of BellRing Brands from $72.00 to $83.00 and gave the company a “buy” rating in a research note on Wednesday. Jefferies Financial Group increased their price objective on shares of BellRing Brands from $61.00 to $84.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Mizuho boosted their target price on BellRing Brands from $72.00 to $80.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, Evercore ISI raised their price target on BellRing Brands from $70.00 to $78.00 and gave the stock an “outperform” rating in a research report on Wednesday. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $74.27.

BellRing Brands Price Performance

NYSE:BRBR opened at $78.60 on Thursday. The company’s 50-day moving average is $65.65 and its two-hundred day moving average is $59.34. BellRing Brands has a 1-year low of $48.06 and a 1-year high of $78.68. The firm has a market capitalization of $10.16 billion, a price-to-earnings ratio of 42.03, a PEG ratio of 1.63 and a beta of 0.84.

BellRing Brands (NYSE:BRBR) last issued its quarterly earnings data on Monday, November 18th. The company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.01. The company had revenue of $555.80 million during the quarter, compared to analyst estimates of $545.00 million. BellRing Brands had a negative return on equity of 103.89% and a net margin of 12.35%. The firm’s revenue for the quarter was up 17.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.41 earnings per share. As a group, equities analysts anticipate that BellRing Brands will post 2.12 earnings per share for the current fiscal year.

Hedge Funds Weigh In On BellRing Brands

Several large investors have recently bought and sold shares of BRBR. Opal Wealth Advisors LLC purchased a new position in shares of BellRing Brands in the 2nd quarter valued at about $28,000. V Square Quantitative Management LLC acquired a new stake in BellRing Brands during the third quarter worth approximately $31,000. Farther Finance Advisors LLC lifted its position in shares of BellRing Brands by 243.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 669 shares of the company’s stock worth $41,000 after buying an additional 474 shares during the last quarter. Truvestments Capital LLC acquired a new position in shares of BellRing Brands in the 3rd quarter valued at $44,000. Finally, Quarry LP grew its position in shares of BellRing Brands by 65.3% in the 2nd quarter. Quarry LP now owns 957 shares of the company’s stock valued at $55,000 after buying an additional 378 shares during the last quarter. Hedge funds and other 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.