BellRing Brands (NYSE:BRBR) Hits New 52-Week High After Analyst Upgrade

Shares of BellRing Brands, Inc. (NYSE:BRBR) reached a new 52-week high during mid-day trading on Thursday after Barclays raised their price target on the stock from $68.00 to $74.00. Barclays currently has an overweight rating on the stock. BellRing Brands traded as high as $69.25 and last traded at $69.07, with a volume of 61687 shares traded. The stock had previously closed at $68.10.

A number of other equities research analysts have also recently weighed in on BRBR. Bank of America lifted their price objective on BellRing Brands from $67.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Needham & Company LLC reaffirmed a “buy” rating and issued a $66.00 price objective on shares of BellRing Brands in a research note on Tuesday, August 6th. Stephens reaffirmed an “equal weight” rating and issued a $55.00 price objective on shares of BellRing Brands in a research note on Tuesday, August 6th. JPMorgan Chase & Co. lowered their target price on BellRing Brands from $65.00 to $64.00 and set an “overweight” rating for the company in a research note on Wednesday, August 7th. Finally, Evercore ISI boosted their target price on BellRing Brands from $65.00 to $70.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, BellRing Brands has a consensus rating of “Moderate Buy” and a consensus price target of $66.14.

Institutional Trading of BellRing Brands

A number of institutional investors have recently bought and sold shares of BRBR. D. E. Shaw & Co. Inc. lifted its holdings in BellRing Brands by 135.2% during the 2nd 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% in 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 during the last quarter. Squarepoint Ops LLC lifted its holdings in shares of 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 last quarter. E. Ohman J or Asset Management AB purchased a new stake in shares of BellRing Brands in the 3rd quarter valued at about $30,753,000. Finally, Point72 Asset Management L.P. lifted its holdings in shares of BellRing Brands by 23.3% in 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 during the last quarter. 94.97% of the stock is owned by hedge funds and other institutional investors.

BellRing Brands Trading Up 1.5 %

The firm has a market capitalization of $8.93 billion, a PE ratio of 40.78, a P/E/G ratio of 1.56 and a beta of 0.84. The company has a fifty day moving average price of $61.78 and a two-hundred day moving average price of $57.94.

BellRing Brands (NYSE:BRBR) last posted its earnings results on Monday, August 5th. The company reported $0.54 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $515.40 million during the quarter, compared to the consensus estimate of $504.73 million. During the same period in the previous year, the business earned $0.34 EPS. The business’s quarterly revenue was up 15.6% on a year-over-year basis. As a group, equities research analysts predict that BellRing Brands, Inc. will post 1.9 earnings per share for the current year.

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.