BellRing Brands (NYSE:BRBR) Shares Up 11.1% – Still a Buy?

BellRing Brands Inc. (NYSE:BRBR) shares rose 11.1% during mid-day trading on Wednesday. The company traded as high as $10.45 and last traded at $10.47. 711,824 shares were traded during trading, a decline of 84% from the average daily volume of 4,359,354 shares. The stock had previously closed at $9.42.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. BNP Paribas Exane initiated coverage on shares of BellRing Brands in a research report on Friday, October 9th. They issued an “outperform” rating and a $12.00 price target for the company. Barclays lowered their price objective on shares of BellRing Brands from $14.00 to $12.00 and set an “overweight” rating on the stock in a research report on Friday, October 16th. JPMorgan Chase & Co. dropped their price objective on shares of BellRing Brands from $18.00 to $15.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 27th. TD Cowen reduced their target price on shares of BellRing Brands from $12.00 to $9.00 and set a “hold” rating for the company in a report on Tuesday, October 13th. Finally, UBS Group set a $9.50 target price on shares of BellRing Brands in a research note on Thursday, October 15th. Ten investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, BellRing Brands currently has an average rating of “Hold” and a consensus price target of $18.57.

BellRing Brands Price Performance

The company has a 50 day moving average price of $9.09 and a 200 day moving average price of $13.25. The firm has a market cap of $1.20 billion, a PE ratio of 7.25, a PEG ratio of 4.49 and a beta of 0.47.

BellRing Brands (NYSE:BRBR) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.07). The firm had revenue of $570.40 million during the quarter, compared to analyst estimates of $548.72 million. BellRing Brands had a net margin of 7.28% and a negative return on equity of 33.04%. The business’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.55 earnings per share. On average, equities analysts anticipate that BellRing Brands Inc. will post 1.02 earnings per share for the current fiscal year.

Institutional Investors Weigh In On BellRing Brands

A number of institutional investors have recently added to or reduced their stakes in the business. Parallel Advisors LLC grew its holdings in BellRing Brands by 52.2% during the first quarter. Parallel Advisors LLC now owns 3,232 shares of the company’s stock worth $52,000 after acquiring an additional 1,109 shares during the period. IFP Advisors Inc increased its holdings 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 valued at $51,000 after purchasing an additional 2,914 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of BellRing Brands by 67.5% in 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 lifted its stake in shares of BellRing Brands by 336.0% in the third 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 during the period. Finally, Nykredit A S acquired a new stake in shares of BellRing Brands in the second quarter valued at about $65,000. Hedge funds and other institutional investors own 94.97% of the company’s stock.

BellRing Brands Company Profile

BellRing Brands, Inc is a consumer nutrition company that develops, markets and sells protein-focused products. Its portfolio is led by Premier Protein, which offers ready-to-drink protein shakes, protein bars, powders and other nutrition products, and Dymatize, a sports nutrition brand known for protein powders, supplements and related products.

The company sells its products through a range of retail and e-commerce channels, including grocery, mass retail, club, drug and specialty nutrition outlets.