BellRing Brands (NYSE:BRBR) Stock Jumps 6.3% – Should You Buy?

BellRing Brands Inc. (NYSE:BRBR)’s stock price rose 6.3% on Tuesday. The stock traded as high as $10.19 and last traded at $10.2240. 608,208 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 4,342,598 shares. The stock had previously closed at $9.62.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. DA Davidson boosted their price target on BellRing Brands from $13.00 to $15.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of BellRing Brands in a report on Tuesday, October 6th. JPMorgan Chase & Co. dropped their price target on shares of BellRing Brands from $18.00 to $15.00 and set an “overweight” rating for the company in a research report on Tuesday, October 27th. Barclays cut their price target on BellRing Brands from $14.00 to $12.00 and set an “overweight” rating for the company in a research note on Friday, October 16th. Finally, UBS Group set a $9.50 price target on BellRing Brands in a research report on Thursday, October 15th. Ten research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $18.57.

BellRing Brands Price Performance

The stock’s 50 day simple moving average is $9.02 and its two-hundred day simple moving average is $12.93. The stock has a market capitalization of $1.20 billion, a PE ratio of 7.27, a PEG ratio of 4.86 and a beta of 0.47.

Institutional Investors Weigh In On BellRing Brands

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Parallel Advisors LLC raised its holdings in shares of BellRing Brands by 52.2% during the first quarter. Parallel Advisors LLC now owns 3,232 shares of the company’s stock valued at $52,000 after acquiring an additional 1,109 shares in the last quarter. IFP Advisors Inc lifted its position in shares of BellRing Brands by 279.4% in the 2nd quarter. IFP Advisors Inc now owns 3,957 shares of the company’s stock worth $51,000 after purchasing an additional 2,914 shares during the period. EverSource Wealth Advisors LLC boosted its stake in shares of BellRing Brands by 67.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 4,488 shares of the company’s stock valued at $72,000 after purchasing an additional 1,809 shares in the last quarter. Versant Capital Management Inc boosted its stake in shares of BellRing Brands by 336.0% during the 3rd quarter. Versant Capital Management Inc now owns 4,643 shares of the company’s stock valued at $36,000 after purchasing an additional 3,578 shares in the last quarter. Finally, Nykredit A S purchased a new position in shares of BellRing Brands during the second quarter valued at about $65,000. Institutional investors own 94.97% of the company’s stock.

BellRing Brands Company Profile

BellRing Brands, Inc. is a consumer nutrition company focused on convenient, protein-rich products. Its portfolio includes Premier Protein, which offers ready-to-drink shakes, powders and nutrition bars, and Dymatize, which makes sports nutrition products such as protein powders and supplements. The company sells its products primarily in the United States and also serves consumers in international markets. Its products are available through a range of retail and online channels. BellRing became an independent publicly traded company in 2019 after its separation from Post Holdings.