Brokerages Set BellRing Brands, Inc. (NYSE:BRBR) Target Price at $57.62

BellRing Brands, Inc. (NYSE:BRBR) has been assigned a consensus recommendation of “Moderate Buy” from the twelve brokerages that are covering the stock, Marketbeat reports. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $57.62.

BRBR has been the topic of a number of research reports. Needham & Company LLC boosted their target price on shares of BellRing Brands from $52.00 to $62.00 and gave the stock a “buy” rating in a research report on Tuesday, February 6th. Citigroup began coverage on shares of BellRing Brands in a research report on Thursday, February 1st. They set a “buy” rating and a $67.00 target price on the stock. Mizuho boosted their price target on shares of BellRing Brands from $57.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, January 18th. Stephens reissued an “equal weight” rating and issued a $51.00 price target on shares of BellRing Brands in a report on Tuesday, February 6th. Finally, Barclays boosted their price target on shares of BellRing Brands from $56.00 to $62.00 and gave the company an “overweight” rating in a report on Thursday, February 8th.

BellRing Brands Stock Down 0.6 %

NYSE:BRBR opened at $55.26 on Tuesday. BellRing Brands has a 12 month low of $34.58 and a 12 month high of $62.76. The company’s 50 day moving average is $57.68 and its 200-day moving average is $53.50. The firm has a market cap of $7.24 billion, a price-to-earnings ratio of 44.56, a P/E/G ratio of 2.13 and a beta of 0.83.

BellRing Brands (NYSE:BRBR) last announced its earnings results on Monday, February 5th. The company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.04. BellRing Brands had a net margin of 9.52% and a negative return on equity of 56.67%. The business had revenue of $430.40 million for the quarter, compared to analyst estimates of $407.91 million. Research analysts predict that BellRing Brands will post 1.67 EPS for the current fiscal year.

Insider Activity

In other news, Director Elliot Stein, Jr. sold 1,000 shares of the business’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $57.81, for a total value of $57,810.00. Following the sale, the director now owns 24,646 shares in the company, valued at approximately $1,424,785.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On BellRing Brands

Several institutional investors and hedge funds have recently made changes to their positions in BRBR. Pathstone Family Office LLC acquired a new position in BellRing Brands during the 3rd quarter worth about $697,000. International Assets Investment Management LLC acquired a new position in BellRing Brands during the 4th quarter worth about $5,076,000. Federated Hermes Inc. lifted its position in BellRing Brands by 19.8% during the 3rd quarter. Federated Hermes Inc. now owns 264,718 shares of the company’s stock worth $10,914,000 after buying an additional 43,766 shares in the last quarter. Lord Abbett & CO. LLC lifted its position in BellRing Brands by 273.5% during the 3rd quarter. Lord Abbett & CO. LLC now owns 1,074,396 shares of the company’s stock worth $44,298,000 after buying an additional 786,756 shares in the last quarter. Finally, Boston Partners acquired a new position in BellRing Brands during the 3rd quarter worth about $19,316,000. Institutional investors and hedge funds 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.