Bank of America Raises BellRing Brands (NYSE:BRBR) Price Target to $82.00

BellRing Brands (NYSE:BRBR) had its price objective hoisted by analysts at Bank of America from $75.00 to $82.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Bank of America‘s price target would suggest a potential upside of 11.90% from the company’s previous close.

A number of other equities analysts have also recently weighed in on the company. Truist Financial upped their price target on BellRing Brands from $50.00 to $60.00 and gave the stock a “hold” rating in a report on Wednesday, October 16th. Jefferies Financial Group boosted their price target on BellRing Brands from $61.00 to $84.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Barclays lifted their price objective on BellRing Brands from $68.00 to $74.00 and gave the stock an “overweight” rating in a report on Wednesday, November 6th. Stephens reaffirmed an “equal weight” rating and issued a $55.00 price target on shares of BellRing Brands in a report on Tuesday, August 6th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of BellRing Brands from $73.00 to $77.00 and gave the stock a “buy” rating in a report on Wednesday. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, BellRing Brands currently has a consensus rating of “Moderate Buy” and an average target price of $69.60.

BellRing Brands Stock Performance

Shares of BRBR stock opened at $73.28 on Wednesday. The firm has a market capitalization of $9.47 billion, a price-to-earnings ratio of 43.88, a price-to-earnings-growth ratio of 1.61 and a beta of 0.84. The company has a 50 day moving average price of $64.56 and a 200 day moving average price of $58.96. BellRing Brands has a one year low of $44.37 and a one year high of $74.00.

BellRing Brands (NYSE:BRBR) last issued its earnings results on Monday, November 18th. The company reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.01. BellRing Brands had a negative return on equity of 88.30% and a net margin of 11.55%. 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 previous year, the business earned $0.41 EPS. The company’s revenue for the quarter was up 17.6% on a year-over-year basis. As a group, equities analysts forecast that BellRing Brands will post 1.92 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of BRBR. Vanguard Group Inc. lifted its stake in BellRing Brands by 5.3% in the first quarter. Vanguard Group Inc. now owns 13,978,857 shares of the company’s stock valued at $825,172,000 after acquiring an additional 698,121 shares during the last quarter. Wasatch Advisors LP boosted its holdings in BellRing Brands by 8.0% during the third quarter. Wasatch Advisors LP now owns 6,701,299 shares of the company’s stock valued at $406,903,000 after acquiring an additional 494,669 shares during the period. State Street Corp lifted its holdings in shares of BellRing Brands by 1.3% during the third quarter. State Street Corp now owns 3,886,709 shares of the company’s stock worth $236,001,000 after buying an additional 50,339 shares during the last quarter. Wellington Management Group LLP increased its stake in BellRing Brands by 11.4% during the third quarter. Wellington Management Group LLP now owns 2,756,722 shares of the company’s stock valued at $167,388,000 after acquiring an additional 281,667 shares during the period. Finally, Point72 Asset Management L.P. raised its holdings in BellRing Brands by 21.5% in the 3rd quarter. Point72 Asset Management L.P. now owns 2,588,970 shares of the company’s stock valued at $157,202,000 after acquiring an additional 457,796 shares in the last quarter. 94.97% of the stock is owned by institutional investors and hedge funds.

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.