BellRing Brands (NYSE:BRBR) Hits New 52-Week High After Analyst Upgrade

BellRing Brands, Inc. (NYSE:BRBR) shares reached a new 52-week high during trading on Thursday after Barclays raised their price target on the stock from $68.00 to $74.00. Barclays currently has an overweight rating on the stock. BellRing Brands traded as high as $69.25 and last traded at $69.07, with a volume of 61687 shares changing hands. The stock had previously closed at $68.10.

Several other research firms have also recently issued reports on BRBR. JPMorgan Chase & Co. dropped their target price on BellRing Brands from $65.00 to $64.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 7th. Needham & Company LLC reiterated a “buy” rating and set a $66.00 target price on shares of BellRing Brands in a research report on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft dropped their target price on BellRing Brands from $67.00 to $65.00 and set a “buy” rating on the stock in a research report on Thursday, July 25th. Bank of America boosted their target price on BellRing Brands from $67.00 to $75.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Finally, Evercore ISI upped their price target on BellRing Brands from $65.00 to $70.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $66.14.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Thrivent Financial for Lutherans lifted its stake in shares of BellRing Brands by 12.8% during the 3rd quarter. Thrivent Financial for Lutherans now owns 94,667 shares of the company’s stock worth $5,749,000 after purchasing an additional 10,720 shares during the period. Natixis Advisors LLC lifted its stake in shares of BellRing Brands by 0.6% during the 3rd quarter. Natixis Advisors LLC now owns 101,475 shares of the company’s stock worth $6,162,000 after purchasing an additional 589 shares during the period. Empowered Funds LLC raised its position in shares of BellRing Brands by 151.4% in the 3rd quarter. Empowered Funds LLC now owns 69,844 shares of the company’s stock worth $4,241,000 after buying an additional 42,059 shares during the period. KBC Group NV raised its position in shares of BellRing Brands by 14.1% in the 3rd quarter. KBC Group NV now owns 3,583 shares of the company’s stock worth $218,000 after buying an additional 443 shares during the period. Finally, Oppenheimer Asset Management Inc. raised its position in shares of BellRing Brands by 17.7% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 49,090 shares of the company’s stock worth $2,981,000 after buying an additional 7,388 shares during the period. Hedge funds and other institutional investors own 94.97% of the company’s stock.

BellRing Brands Trading Up 1.5 %

The firm has a market capitalization of $8.93 billion, a PE ratio of 40.78, a price-to-earnings-growth ratio of 1.56 and a beta of 0.84. The firm has a 50-day moving average of $61.78 and a two-hundred day moving average of $57.94.

BellRing Brands (NYSE:BRBR) last issued its earnings results on Monday, August 5th. The company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.10. The business had revenue of $515.40 million for the quarter, compared to analyst estimates of $504.73 million. BellRing Brands had a negative return on equity of 88.30% and a net margin of 11.55%. The business’s quarterly revenue was up 15.6% on a year-over-year basis. During the same period last year, the company posted $0.34 EPS. Equities research analysts expect that BellRing Brands, Inc. will post 1.9 earnings per share for the current fiscal year.

About BellRing Brands

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.