BellRing Brands (NYSE:BRBR) Price Target Raised to $70.00 at Evercore ISI

BellRing Brands (NYSE:BRBR) had its target price upped by Evercore ISI from $65.00 to $70.00 in a research report sent to investors on Thursday morning, Benzinga reports. The firm currently has an outperform rating on the stock.

Several other brokerages have also weighed in on BRBR. Deutsche Bank Aktiengesellschaft cut 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. Truist Financial increased their price target on shares of BellRing Brands from $50.00 to $60.00 and gave the company a “hold” rating in a research note on Wednesday, October 16th. Barclays boosted their price objective on shares of BellRing Brands from $65.00 to $68.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. JPMorgan Chase & Co. dropped their target price on shares of 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 reissued a “buy” rating and issued a $66.00 price target on shares of BellRing Brands in a research report on Tuesday, August 6th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $65.71.

BellRing Brands Stock Down 1.2 %

NYSE BRBR traded down $0.79 on Thursday, hitting $64.28. 157,876 shares of the stock were exchanged, compared to its average volume of 1,223,869. BellRing Brands has a fifty-two week low of $42.71 and a fifty-two week high of $67.12. The company has a 50-day moving average price of $59.65 and a 200-day moving average price of $57.18. The company has a market cap of $8.38 billion, a PE ratio of 45.19, a PEG ratio of 1.48 and a beta of 0.85.

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

Institutional Trading of BellRing Brands

A number of hedge funds have recently added to or reduced their stakes in the stock. Opal Wealth Advisors LLC purchased a new stake in shares of BellRing Brands during the second quarter worth approximately $28,000. V Square Quantitative Management LLC purchased a new position in BellRing Brands during the 3rd quarter worth $31,000. Quarry LP lifted its stake in shares of BellRing Brands by 65.3% in the 2nd quarter. Quarry LP now owns 957 shares of the company’s stock worth $55,000 after acquiring an additional 378 shares during the period. GAMMA Investing LLC lifted its stake 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 during the period. Finally, Fifth Third Bancorp increased its stake in shares of BellRing Brands by 51.4% during the second quarter. Fifth Third Bancorp now owns 1,102 shares of the company’s stock worth $63,000 after acquiring an additional 374 shares during the period. 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.