BellRing Brands (NYSE:BRBR) Price Target Raised to $90.00

BellRing Brands (NYSE:BRBR) had its target price hoisted by Citigroup from $83.00 to $90.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Several other equities research analysts have also recently commented on the stock. Truist Financial increased their price objective on shares of BellRing Brands from $60.00 to $75.00 and gave the stock a “hold” rating in a research note on Wednesday, November 20th. Bank of America increased their price target on BellRing Brands from $75.00 to $82.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Barclays boosted their price target on BellRing Brands from $74.00 to $79.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. Mizuho raised their target price on shares of BellRing Brands from $72.00 to $80.00 and gave the company an “outperform” rating in a research note on Wednesday, November 20th. Finally, Stifel Nicolaus upped their price target on shares of BellRing Brands from $67.00 to $81.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, BellRing Brands currently has a consensus rating of “Moderate Buy” and a consensus price target of $77.13.

BellRing Brands Stock Performance

NYSE:BRBR opened at $77.36 on Wednesday. The stock has a 50-day simple moving average of $76.03 and a 200 day simple moving average of $65.50. BellRing Brands has a 52-week low of $48.06 and a 52-week high of $80.67. The company has a market cap of $9.96 billion, a PE ratio of 41.37, a PEG ratio of 2.64 and a beta of 0.86.

BellRing Brands (NYSE:BRBR) last issued its quarterly earnings results on Monday, November 18th. The company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.01. The company had revenue of $555.80 million during the quarter, compared to analysts’ expectations of $545.00 million. BellRing Brands had a net margin of 12.35% and a negative return on equity of 103.89%. The business’s quarterly revenue was up 17.6% on a year-over-year basis. During the same period last year, the business earned $0.41 EPS. On average, research analysts predict that BellRing Brands will post 2.16 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wasatch Advisors LP grew its stake in shares of BellRing Brands by 8.0% in the third quarter. Wasatch Advisors LP now owns 6,701,299 shares of the company’s stock valued at $406,903,000 after acquiring an additional 494,669 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of BellRing Brands by 9.3% during the third quarter. Franklin Resources Inc. now owns 4,480,717 shares of the company’s stock worth $285,646,000 after purchasing an additional 380,216 shares during the period. State Street Corp raised its position in shares of BellRing Brands by 1.3% in the third quarter. State Street Corp now owns 3,886,709 shares of the company’s stock valued at $236,001,000 after buying an additional 50,339 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of BellRing Brands by 11.4% in the third quarter. Wellington Management Group LLP now owns 2,756,722 shares of the company’s stock valued at $167,388,000 after buying an additional 281,667 shares during the period. Finally, Point72 Asset Management L.P. grew its position in BellRing Brands by 21.5% during the third quarter. Point72 Asset Management L.P. now owns 2,588,970 shares of the company’s stock worth $157,202,000 after buying an additional 457,796 shares in the last quarter. 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.