BellRing Brands (NYSE:BRBR) Stock Rating Reaffirmed by Needham & Company LLC

BellRing Brands (NYSE:BRBR)‘s stock had its “buy” rating restated by equities research analysts at Needham & Company LLC in a research note issued on Tuesday, Benzinga reports. They presently have a $62.00 price objective on the stock. Needham & Company LLC’s target price points to a potential upside of 8.43% from the company’s previous close.

Several other brokerages also recently issued reports on BRBR. Mizuho raised their price target on BellRing Brands from $57.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, January 18th. Barclays upped their price target on BellRing Brands from $56.00 to $62.00 and gave the stock an “overweight” rating in a report on Thursday, February 8th. Stephens reaffirmed an “equal weight” rating and set a $51.00 target price on shares of BellRing Brands in a research report on Tuesday, February 6th. Stifel Nicolaus upped their price objective on shares of BellRing Brands from $60.00 to $63.00 and gave the company a “buy” rating in a research report on Wednesday, February 7th. Finally, TD Cowen started coverage on BellRing Brands in a research report on Monday, April 22nd. They set a “buy” rating and a $64.00 target price on the stock. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, BellRing Brands has a consensus rating of “Moderate Buy” and a consensus target price of $58.92.

BellRing Brands Stock Performance

Shares of BRBR stock opened at $57.18 on Tuesday. The stock’s 50 day simple moving average is $57.83 and its 200 day simple moving average is $54.29. BellRing Brands has a twelve month low of $34.58 and a twelve month high of $62.76. The company has a market capitalization of $7.49 billion, a price-to-earnings ratio of 46.11, a PEG ratio of 2.18 and a beta of 0.85.

BellRing Brands (NYSE:BRBR) last released its quarterly earnings results on Monday, May 6th. The company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.11. BellRing Brands had a net margin of 9.52% and a negative return on equity of 56.67%. The company had revenue of $494.60 million for the quarter, compared to analyst estimates of $467.22 million. During the same quarter last year, the firm posted $0.24 earnings per share. The company’s quarterly revenue was up 28.3% compared to the same quarter last year. On average, analysts forecast that BellRing Brands will post 1.67 EPS for the current fiscal year.

Insider Buying and Selling

In other BellRing Brands news, Director Elliot Stein, Jr. sold 1,000 shares of the company’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $57.81, for a total value of $57,810.00. Following the sale, the director now directly owns 24,646 shares in the company, valued at $1,424,785.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On BellRing Brands

Several institutional investors have recently added to or reduced their stakes in BRBR. Rise Advisors LLC acquired a new position in BellRing Brands in the first quarter worth $32,000. Parallel Advisors LLC grew its holdings in BellRing Brands by 153.6% during the 4th quarter. Parallel Advisors LLC now owns 596 shares of the company’s stock worth $33,000 after acquiring an additional 361 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. acquired a new stake in BellRing Brands in the 1st quarter valued at about $37,000. Global Wealth Management Investment Advisory Inc. bought a new position in shares of BellRing Brands in the fourth quarter worth about $44,000. Finally, Allworth Financial LP lifted its position in shares of BellRing Brands by 59.2% during the third quarter. Allworth Financial LP now owns 1,008 shares of the company’s stock worth $42,000 after purchasing an additional 375 shares in the last quarter. 94.97% of the stock is owned by 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.