BellRing Brands (NYSE:BRBR) Reaches New 1-Year High – Here’s What Happened

BellRing Brands, Inc. (NYSE:BRBR) hit a new 52-week high during trading on Thursday . The stock traded as high as $62.78 and last traded at $62.75, with a volume of 671366 shares. The stock had previously closed at $62.10.

Wall Street Analysts Forecast Growth

BRBR has been the topic of a number of research analyst reports. Stephens restated an “equal weight” rating and issued a $55.00 price target on shares of BellRing Brands in a research note on Tuesday, August 6th. Barclays raised their target price on shares of BellRing Brands from $65.00 to $68.00 and gave the company an “overweight” rating in a research report on Friday. Deutsche Bank Aktiengesellschaft lowered their price target on shares of BellRing Brands from $67.00 to $65.00 and set a “buy” rating for the company in a report on Thursday, July 25th. 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 report on Wednesday, August 7th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $66.00 target price on shares of BellRing Brands in a report on Tuesday, August 6th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $62.86.

BellRing Brands Price Performance

The company’s 50-day moving average price is $57.74 and its two-hundred day moving average price is $56.81. The company has a market capitalization of $8.17 billion, a price-to-earnings ratio of 37.84, a PEG ratio of 1.48 and a beta of 0.85.

BellRing Brands (NYSE:BRBR) last issued its quarterly earnings results on Monday, August 5th. The company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates 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 88.30% and a net margin of 11.55%. The business’s revenue was up 15.6% compared to the same quarter last year. During the same period last year, the business posted $0.34 EPS. On average, equities research analysts expect that BellRing Brands, Inc. will post 1.9 EPS for the current fiscal year.

Hedge Funds Weigh In On BellRing Brands

Institutional investors have recently added to or reduced their stakes in the business. Neo Ivy Capital Management bought a new position in BellRing Brands during the fourth quarter worth $119,000. Vanguard Group Inc. grew its stake in BellRing Brands by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 13,280,736 shares of the company’s stock valued at $736,151,000 after acquiring an additional 155,252 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in BellRing Brands in the fourth quarter valued at approximately $3,331,000. NBC Securities Inc. increased its holdings in shares of BellRing Brands by 435.2% during the first quarter. NBC Securities Inc. now owns 1,932 shares of the company’s stock valued at $114,000 after acquiring an additional 1,571 shares in the last quarter. Finally, First Hawaiian Bank acquired a new position in shares of BellRing Brands during the first quarter worth approximately $375,000. 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.