Truist Financial Increases BellRing Brands (NYSE:BRBR) Price Target to $60.00

BellRing Brands (NYSE:BRBR) had its price objective raised by Truist Financial from $50.00 to $60.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has a “hold” rating on the stock. Truist Financial’s price target suggests a potential downside of 8.55% from the stock’s previous close.

A number of other equities research analysts also recently issued reports on the company. Deutsche Bank Aktiengesellschaft cut their price target 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 restated an “equal weight” rating and set a $55.00 target price on shares of BellRing Brands in a research note on Tuesday, August 6th. Bank of America increased their price objective on shares of BellRing Brands from $67.00 to $75.00 and gave the company a “buy” rating in a report on Tuesday. Needham & Company LLC restated a “buy” rating and set a $66.00 target price on shares of BellRing Brands in a research report on Tuesday, August 6th. Finally, JPMorgan Chase & Co. reduced their price objective on BellRing Brands from $65.00 to $64.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 7th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, BellRing Brands presently has an average rating of “Moderate Buy” and an average target price of $65.36.

BellRing Brands Stock Performance

Shares of BellRing Brands stock opened at $65.61 on Wednesday. The company’s 50 day moving average price is $58.74 and its 200-day moving average price is $56.98. BellRing Brands has a 52-week low of $42.54 and a 52-week high of $67.12. The stock has a market capitalization of $8.56 billion, a price-to-earnings ratio of 45.56, a P/E/G ratio of 1.48 and a beta of 0.85.

BellRing Brands (NYSE:BRBR) last released its earnings results on Monday, August 5th. The company reported $0.54 earnings per share (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 analyst estimates of $504.73 million. BellRing Brands had a net margin of 11.55% and a negative return on equity of 88.30%. The business’s revenue was up 15.6% on a year-over-year basis. During the same period last year, the business earned $0.34 earnings per share. As a group, equities research analysts forecast that BellRing Brands will post 1.9 earnings per share for the current fiscal year.

Hedge Funds Weigh In On BellRing Brands

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Opal Wealth Advisors LLC purchased a new stake in shares of BellRing Brands in the second quarter valued at $28,000. V Square Quantitative Management LLC acquired a new position in BellRing Brands during the 3rd quarter worth $31,000. Rise Advisors LLC bought a new stake in shares of BellRing Brands in the 1st quarter worth about $32,000. Quarry LP increased its holdings in BellRing Brands by 65.3% in the second quarter. Quarry LP now owns 957 shares of the company’s stock valued at $55,000 after buying an additional 378 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in shares of BellRing Brands by 165.3% in the 2nd quarter. GAMMA Investing LLC now owns 987 shares of the company’s stock worth $56,000 after acquiring an additional 615 shares in the last quarter. Hedge funds and other institutional investors 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.