BellRing Brands (NYSE:BRBR) Given New $83.00 Price Target at Citigroup

BellRing Brands (NYSE:BRBR) had its target price raised by Citigroup from $72.00 to $83.00 in a research report report published on Wednesday,Benzinga reports. Citigroup currently has a buy rating on the stock.

Several other equities analysts have also commented on the stock. Jefferies Financial Group increased their price target on shares of BellRing Brands from $61.00 to $84.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Needham & Company LLC reissued a “buy” rating and issued a $66.00 price target on shares of BellRing Brands in a research report on Tuesday, August 6th. Barclays raised their price objective on BellRing Brands from $68.00 to $74.00 and gave the stock an “overweight” rating in a report on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft boosted their target price on BellRing Brands from $73.00 to $77.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Truist Financial raised their price target on BellRing Brands from $60.00 to $75.00 and gave the stock a “hold” rating in a research note on Wednesday. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $74.27.

BellRing Brands Trading Up 2.8 %

Shares of NYSE:BRBR opened at $78.60 on Wednesday. The company has a market cap of $10.16 billion, a PE ratio of 42.03, a P/E/G ratio of 2.56 and a beta of 0.84. The company’s 50 day moving average is $65.65 and its two-hundred day moving average is $59.34. BellRing Brands has a 52 week low of $48.06 and a 52 week high of $78.68.

BellRing Brands (NYSE:BRBR) last posted its quarterly 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. The company had revenue of $555.80 million for the quarter, compared to analysts’ expectations of $545.00 million. BellRing Brands had a negative return on equity of 103.89% and a net margin of 12.35%. BellRing Brands’s quarterly revenue was up 17.6% on a year-over-year basis. During the same period last year, the firm earned $0.41 earnings per share. As a group, equities research analysts expect that BellRing Brands will post 2.17 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Holocene Advisors LP acquired a new position in BellRing Brands during the 3rd quarter worth approximately $69,998,000. D. E. Shaw & Co. Inc. grew 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 acquiring an additional 847,161 shares during the period. Vanguard Group Inc. raised its position in BellRing Brands by 5.3% in the first quarter. Vanguard Group Inc. now owns 13,978,857 shares of the company’s stock worth $825,172,000 after acquiring an additional 698,121 shares in the last quarter. Squarepoint Ops LLC lifted its holdings in BellRing Brands by 665.2% in the second quarter. Squarepoint Ops LLC now owns 627,361 shares of the company’s stock valued at $35,847,000 after acquiring an additional 545,371 shares during the period. Finally, E. Ohman J or Asset Management AB purchased a new stake in shares of BellRing Brands during the 3rd quarter worth $30,753,000. 94.97% of the stock is owned by hedge funds and other institutional investors.

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.