BellRing Brands (NYSE:BRBR) Earns Buy Rating from Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of BellRing Brands (NYSE:BRBR) in a research note released on Tuesday morning, Benzinga reports. They currently have a $66.00 price objective on the stock.

A number of other research analysts also recently issued reports on the stock. Stifel Nicolaus raised their price target on shares of BellRing Brands from $63.00 to $67.00 and gave the stock a buy rating in a research report on Wednesday, May 8th. Barclays upped their target price on BellRing Brands from $62.00 to $65.00 and gave the company an overweight rating in a report on Thursday, May 9th. Deutsche Bank Aktiengesellschaft cut their price target on BellRing Brands from $67.00 to $65.00 and set a buy rating on the stock in a report on Thursday, July 25th. JPMorgan Chase & Co. upped their price objective on BellRing Brands from $64.00 to $65.00 and gave the stock an overweight rating in a research note on Friday, July 19th. Finally, Mizuho raised their target price on BellRing Brands from $60.00 to $68.00 and gave the company a buy rating in a research note on Wednesday, May 8th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of $62.64.

BellRing Brands Price Performance

Shares of BRBR stock opened at $54.97 on Tuesday. The firm has a fifty day moving average of $55.07 and a two-hundred day moving average of $56.71. The firm has a market cap of $7.17 billion, a P/E ratio of 38.17, a P/E/G ratio of 1.50 and a beta of 0.84. BellRing Brands has a 1-year low of $36.69 and a 1-year high of $62.76.

BellRing Brands (NYSE:BRBR) last posted its quarterly earnings results on Monday, August 5th. The company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.10. BellRing Brands had a negative return on equity of 70.95% and a net margin of 10.39%. The business had revenue of $515.40 million during the quarter, compared to the consensus estimate of $504.73 million. During the same period last year, the firm earned $0.34 earnings per share. The company’s revenue for the quarter was up 15.6% compared to the same quarter last year. On average, sell-side analysts expect that BellRing Brands will post 1.8 EPS for the current year.

Insider Activity

In other news, Chairman Robert V. Vitale sold 15,000 shares of the company’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $60.15, for a total value of $902,250.00. Following the completion of the sale, the chairman now owns 215,054 shares in the company, valued at $12,935,498.10. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in BRBR. Norges Bank purchased a new position in BellRing Brands in the 4th quarter worth about $91,936,000. Franklin Resources Inc. grew its position in BellRing Brands by 60.3% during the fourth quarter. Franklin Resources Inc. now owns 3,666,584 shares of the company’s stock valued at $203,239,000 after purchasing an additional 1,379,138 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of 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 during the last quarter. Principal Financial Group Inc. increased its position in BellRing Brands by 87.2% in the 1st quarter. Principal Financial Group Inc. now owns 1,088,337 shares of the company’s stock worth $64,245,000 after purchasing an additional 506,895 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in BellRing Brands by 1,006.0% in the second quarter. Assenagon Asset Management S.A. now owns 372,590 shares of the company’s stock worth $21,290,000 after buying an additional 338,903 shares during the last quarter. Institutional investors and hedge funds own 94.97% of the company’s stock.

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.