BellRing Brands (NYSE:BRBR) Stock Price Expected to Rise, Evercore ISI Analyst Says

BellRing Brands (NYSE:BRBR) had its target price raised by Evercore ISI from $70.00 to $78.00 in a research report sent to investors on Wednesday morning,Benzinga reports. They currently have an outperform rating on the stock.

A number of other research firms have also recently commented on BRBR. Needham & Company LLC reaffirmed a “buy” rating and set a $66.00 target price on shares of BellRing Brands in a research note on Tuesday, August 6th. Jefferies Financial Group upped their price objective on BellRing Brands from $61.00 to $84.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Bank of America boosted their target price on shares of BellRing Brands from $75.00 to $82.00 and gave the company a “buy” rating in a research note on Wednesday. Barclays raised their price target on shares of BellRing Brands from $68.00 to $74.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 6th. Finally, Truist Financial upped their target price on shares of BellRing Brands from $60.00 to $75.00 and gave the stock a “hold” rating in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, BellRing Brands currently has a consensus rating of “Moderate Buy” and a consensus target price of $74.27.

BellRing Brands Stock Performance

NYSE:BRBR opened at $78.60 on Wednesday. The stock’s fifty day moving average is $65.65 and its 200 day moving average is $59.34. The firm has a market capitalization of $10.16 billion, a PE ratio of 42.03, a PEG ratio of 2.56 and a beta of 0.84. BellRing Brands has a fifty-two week low of $48.06 and a fifty-two week high of $78.68.

BellRing Brands (NYSE:BRBR) last released its earnings results on Monday, November 18th. The company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.01. BellRing Brands had a net margin of 12.35% and a negative return on equity of 103.89%. The firm had revenue of $555.80 million during the quarter, compared to analyst estimates of $545.00 million. During the same quarter last year, the business earned $0.41 EPS. The business’s revenue was up 17.6% on a year-over-year basis. Equities analysts forecast that BellRing Brands will post 2.17 EPS for the current year.

Hedge Funds Weigh In On BellRing Brands

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Braun Stacey Associates Inc. bought a new stake in shares of BellRing Brands in the 3rd quarter valued at about $18,680,000. Dimensional Fund Advisors LP boosted its stake in BellRing Brands by 3.7% in the second quarter. Dimensional Fund Advisors LP now owns 2,423,483 shares of the company’s stock valued at $138,482,000 after acquiring an additional 86,992 shares in the last quarter. WINTON GROUP Ltd grew its holdings in BellRing Brands by 186.5% in the second quarter. WINTON GROUP Ltd now owns 44,642 shares of the company’s stock worth $2,551,000 after purchasing an additional 29,060 shares during the last quarter. Federated Hermes Inc. increased its position in shares of BellRing Brands by 28.0% during the second quarter. Federated Hermes Inc. now owns 474,168 shares of the company’s stock worth $27,094,000 after purchasing an additional 103,604 shares in the last quarter. Finally, AQR Capital Management LLC lifted its holdings in shares of BellRing Brands by 72.3% during the 2nd quarter. AQR Capital Management LLC now owns 532,359 shares of the company’s stock valued at $30,419,000 after purchasing an additional 223,430 shares during the last quarter. Hedge funds and other institutional investors own 94.97% of the company’s stock.

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.