BellRing Brands (NYSE:BRBR) Shares Gap Up After Strong Earnings

BellRing Brands, Inc. (NYSE:BRBR)’s share price gapped up prior to trading on Tuesday after the company announced better than expected quarterly earnings. The stock had previously closed at $57.18, but opened at $62.50. BellRing Brands shares last traded at $60.37, with a volume of 246,961 shares trading hands.

The company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.34 by $0.11. The firm had revenue of $494.60 million for the quarter, compared to analysts’ expectations of $467.22 million. BellRing Brands had a negative return on equity of 56.67% and a net margin of 9.52%. The firm’s quarterly revenue was up 28.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.24 earnings per share.

Analysts Set New Price Targets

Several brokerages have recently weighed in on BRBR. Needham & Company LLC restated a “buy” rating and issued a $62.00 price objective on shares of BellRing Brands in a report on Tuesday. Evercore ISI upped their price target on shares of BellRing Brands from $60.00 to $65.00 and gave the company an “outperform” rating in a report on Wednesday. Stephens reaffirmed an “equal weight” rating and issued a $53.00 price objective on shares of BellRing Brands in a research note on Tuesday. TD Cowen increased their target price on shares of BellRing Brands from $64.00 to $70.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Barclays lifted their price target on shares of BellRing Brands from $56.00 to $62.00 and gave the stock an “overweight” rating in a research report on Thursday, February 8th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, BellRing Brands has an average rating of “Moderate Buy” and a consensus target price of $61.58.

Hedge Funds Weigh In On BellRing Brands

Several institutional investors and hedge funds have recently added to or reduced their stakes in BRBR. Entropy Technologies LP acquired a new stake in shares of BellRing Brands in the first quarter worth $1,106,000. Advisors Preferred LLC purchased a new stake in BellRing Brands in the 1st quarter worth about $6,779,000. ProShare Advisors LLC boosted its position in BellRing Brands by 4.7% during the 1st quarter. ProShare Advisors LLC now owns 30,109 shares of the company’s stock worth $1,777,000 after acquiring an additional 1,341 shares during the period. Russell Investments Group Ltd. grew its stake in BellRing Brands by 73.0% during the 1st quarter. Russell Investments Group Ltd. now owns 57,154 shares of the company’s stock valued at $3,374,000 after acquiring an additional 24,126 shares in the last quarter. Finally, Qsemble Capital Management LP increased its holdings in shares of BellRing Brands by 218.2% in the 1st quarter. Qsemble Capital Management LP now owns 20,057 shares of the company’s stock valued at $1,184,000 after purchasing an additional 13,754 shares during the period. 94.97% of the stock is currently owned by hedge funds and other institutional investors.

BellRing Brands Stock Down 0.6 %

The firm has a market capitalization of $7.61 billion, a PE ratio of 46.85, a price-to-earnings-growth ratio of 2.18 and a beta of 0.85. The business’s 50-day moving average price is $57.88 and its 200-day moving average price is $54.40.

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.