BellRing Brands (NYSE:BRBR) Stock Falls 5.2% Following Analyst Downgrade

BellRing Brands Inc. (NYSE:BRBR)’s share price dropped 5.2% on Tuesday after JPMorgan Chase & Co. lowered their price target on the stock from $18.00 to $15.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. BellRing Brands traded as low as $9.06 and last traded at $9.0590. Approximately 706,927 shares were traded during trading, a decline of 84% from the average session volume of 4,398,681 shares. The stock had previously closed at $9.56.

BRBR has been the topic of a number of other research reports. DA Davidson increased their price objective on BellRing Brands from $13.00 to $15.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Barclays dropped their price target on shares of BellRing Brands from $14.00 to $12.00 and set an “overweight” rating on the stock in a research note on Friday, October 16th. BNP Paribas Exane started coverage on shares of BellRing Brands in a report on Friday, October 9th. They set an “outperform” rating and a $12.00 price objective on the stock. Stifel Nicolaus boosted their price objective on shares of BellRing Brands from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Wednesday, July 22nd. Finally, Stephens reaffirmed an “overweight” rating and issued a $20.00 target price on shares of BellRing Brands in a research report on Thursday, July 9th. Ten analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $18.57.

Hedge Funds Weigh In On BellRing Brands

Institutional investors have recently added to or reduced their stakes in the stock. Vise Technologies Inc. purchased a new position in BellRing Brands in the 3rd quarter valued at $96,000. State of Wyoming purchased a new position in BellRing Brands during the 3rd quarter worth $51,000. D.A. Davidson & CO. purchased a new position in BellRing Brands during the 3rd quarter worth $275,000. Iridian Asset Management LLC CT increased its stake in shares of BellRing Brands by 56.0% during the third quarter. Iridian Asset Management LLC CT now owns 444,504 shares of the company’s stock worth $3,418,000 after acquiring an additional 159,575 shares during the period. Finally, Isthmus Partners LLC raised its holdings in BellRing Brands by 108.5% during the third quarter. Isthmus Partners LLC now owns 284,751 shares of the company’s stock worth $2,190,000 after purchasing an additional 148,182 shares in the last quarter. Institutional investors and hedge funds own 94.97% of the company’s stock.

BellRing Brands Stock Down 0.1%

The stock has a market capitalization of $1.08 billion, a PE ratio of 6.56, a PEG ratio of 4.45 and a beta of 0.43. The firm’s fifty day moving average is $9.20 and its 200-day moving average is $13.54.

BellRing Brands (NYSE:BRBR) last released its earnings results 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 business had revenue of $570.40 million for the quarter, compared to analyst estimates of $548.72 million. BellRing Brands had a negative return on equity of 33.04% and a net margin of 7.28%. The business’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.55 EPS. On average, analysts expect that BellRing Brands Inc. will post 1.03 EPS for the current year.

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.