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

BellRing Brands, Inc. (NYSE:BRBR) shares hit a new 52-week high on Monday after Stephens raised their price target on the stock from $61.00 to $75.00. Stephens currently has an equal weight rating on the stock. BellRing Brands traded as high as $79.83 and last traded at $79.40, with a volume of 33830 shares. The stock had previously closed at $78.60.

A number of other research analysts also recently issued reports on BRBR. JPMorgan Chase & Co. reduced their price target on BellRing Brands from $65.00 to $64.00 and set an “overweight” rating on the stock in a report on Wednesday, August 7th. Bank of America boosted their target price on BellRing Brands from $75.00 to $82.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. DA Davidson reaffirmed a “neutral” rating and issued a $75.00 price target on shares of BellRing Brands in a research note on Tuesday, November 19th. Evercore ISI boosted their price objective on shares of BellRing Brands from $70.00 to $78.00 and gave the company an “outperform” rating in a research report on Wednesday, November 20th. Finally, Stifel Nicolaus raised their target price on shares of BellRing Brands from $67.00 to $81.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $75.60.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Chartwell Investment Partners LLC increased its position in BellRing Brands by 0.8% during the third quarter. Chartwell Investment Partners LLC now owns 22,928 shares of the company’s stock valued at $1,393,000 after acquiring an additional 181 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its position in shares of BellRing Brands by 2.4% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 10,375 shares of the company’s stock valued at $540,000 after purchasing an additional 242 shares during the last quarter. Hanseatic Management Services Inc. increased its position in shares of BellRing Brands by 1.8% during the 2nd quarter. Hanseatic Management Services Inc. now owns 14,484 shares of the company’s stock valued at $828,000 after purchasing an additional 263 shares during the last quarter. Bessemer Group Inc. lifted its stake in shares of BellRing Brands by 3.8% in the 1st quarter. Bessemer Group Inc. now owns 7,459 shares of the company’s stock worth $440,000 after purchasing an additional 276 shares during the period. Finally, Fifth Third Bancorp boosted its holdings in shares of BellRing Brands by 51.4% in the second quarter. Fifth Third Bancorp now owns 1,102 shares of the company’s stock worth $63,000 after buying an additional 374 shares during the last quarter. 94.97% of the stock is owned by hedge funds and other institutional investors.

BellRing Brands Price Performance

The company has a market capitalization of $10.00 billion, a P/E ratio of 41.80, a price-to-earnings-growth ratio of 2.64 and a beta of 0.84. The firm’s 50-day moving average is $65.65 and its 200-day moving average is $59.35.

BellRing Brands (NYSE:BRBR) last issued its quarterly earnings results on Monday, November 18th. The company reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.01. BellRing Brands had a negative return on equity of 103.89% and a net margin of 12.35%. The business had revenue of $555.80 million during the quarter, compared to analysts’ expectations of $545.00 million. During the same quarter in the prior year, the business posted $0.41 earnings per share. The business’s quarterly revenue was up 17.6% on a year-over-year basis. As a group, analysts forecast that BellRing Brands, Inc. will post 2.16 EPS for the current fiscal 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.