Citigroup started coverage on shares of BellRing Brands (NYSE:BRBR – Free Report) in a research report sent to investors on Thursday morning, MarketBeat reports. The firm issued a buy rating and a $67.00 price objective on the stock.
Other analysts also recently issued research reports about the stock. Morgan Stanley boosted their price objective on shares of BellRing Brands from $43.00 to $53.00 and gave the stock an overweight rating in a research report on Wednesday, November 22nd. DA Davidson initiated coverage on shares of BellRing Brands in a research report on Friday, December 8th. They issued a neutral rating and a $60.00 price target for the company. Stifel Nicolaus upped their price target on shares of BellRing Brands from $54.00 to $60.00 and gave the company a buy rating in a research report on Thursday, January 25th. Truist Financial downgraded shares of BellRing Brands from a buy rating to a hold rating and reduced their price target for the company from $55.00 to $50.00 in a research report on Wednesday, January 3rd. Finally, Evercore ISI upped their price target on shares of BellRing Brands from $47.00 to $53.00 and gave the company an outperform rating in a research report on Wednesday, November 22nd. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $53.23.
BellRing Brands Price Performance
BellRing Brands (NYSE:BRBR – Get Free Report) last announced its quarterly earnings data on Tuesday, November 21st. The company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.01. BellRing Brands had a net margin of 9.93% and a negative return on equity of 49.86%. The firm had revenue of $472.60 million during the quarter, compared to analysts’ expectations of $462.65 million. During the same quarter in the previous year, the business posted $0.31 earnings per share. The business’s quarterly revenue was up 24.6% compared to the same quarter last year. As a group, sell-side analysts expect that BellRing Brands will post 1.63 earnings per share for the current fiscal year.
Institutional Investors Weigh In On BellRing Brands
Hedge funds have recently modified their holdings of the stock. Cutler Group LLC CA acquired a new position in shares of BellRing Brands during the second quarter worth $25,000. Geneos Wealth Management Inc. bought a new stake in BellRing Brands during the first quarter valued at $31,000. Point72 Middle East FZE acquired a new position in shares of BellRing Brands during the fourth quarter valued at $33,000. Allworth Financial LP boosted its holdings in shares of BellRing Brands by 59.2% during the third quarter. Allworth Financial LP now owns 1,008 shares of the company’s stock valued at $42,000 after acquiring an additional 375 shares during the period. Finally, Smithfield Trust Co acquired a new position in shares of BellRing Brands during the second quarter valued at $50,000. 94.90% 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.
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