BellRing Brands (NYSE:BRBR) Receives “Buy” Rating from Needham & Company LLC

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

Several other brokerages also recently commented on BRBR. Deutsche Bank Aktiengesellschaft lowered their price objective on BellRing Brands from $67.00 to $65.00 and set a buy rating for the company in a research note on Thursday, July 25th. Stephens reaffirmed an equal weight rating and set a $53.00 price objective on shares of BellRing Brands in a report on Tuesday, May 7th. Stifel Nicolaus increased their target price on shares of BellRing Brands from $63.00 to $67.00 and gave the company a buy rating in a report on Wednesday, May 8th. Mizuho boosted their price target on shares of BellRing Brands from $60.00 to $68.00 and gave the stock a buy rating in a report on Wednesday, May 8th. Finally, TD Cowen increased their price objective on shares of BellRing Brands from $64.00 to $70.00 and gave the company a buy rating in a research note on Wednesday, May 8th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $62.64.

BellRing Brands Stock Up 2.0 %

Shares of NYSE BRBR opened at $54.97 on Tuesday. The company’s fifty day simple moving average is $55.07 and its 200 day simple moving average is $56.71. BellRing Brands has a 12-month low of $36.69 and a 12-month high of $62.76. The firm has a market cap of $7.17 billion, a PE ratio of 38.17, a P/E/G ratio of 1.50 and a beta of 0.84.

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

Insiders Place Their Bets

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 transaction of $902,250.00. Following the transaction, the chairman now owns 215,054 shares of the company’s stock, valued at approximately $12,935,498.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.80% of the company’s stock.

Institutional Investors Weigh In On BellRing Brands

Institutional investors have recently added to or reduced their stakes in the business. Norges Bank bought a new stake in shares of BellRing Brands in the fourth quarter valued at approximately $91,936,000. Franklin Resources Inc. raised its holdings in BellRing Brands by 60.3% during the 4th quarter. Franklin Resources Inc. now owns 3,666,584 shares of the company’s stock valued at $203,239,000 after acquiring an additional 1,379,138 shares during the period. Vanguard Group Inc. lifted its position in shares of BellRing Brands by 5.3% during 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 in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of BellRing Brands by 87.2% in the first quarter. Principal Financial Group Inc. now owns 1,088,337 shares of the company’s stock worth $64,245,000 after acquiring an additional 506,895 shares during the period. Finally, Assenagon Asset Management S.A. grew its position in shares of 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 valued at $21,290,000 after purchasing an additional 338,903 shares in the last quarter. 94.97% of the stock is owned by hedge funds and other 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.