Citigroup Forecasts Strong Price Appreciation for BellRing Brands (NYSE:BRBR) Stock

BellRing Brands (NYSE:BRBR) had its price objective upped by analysts at Citigroup from $72.00 to $83.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s price objective would suggest a potential upside of 8.44% from the company’s current price.

Other research analysts have also recently issued research reports about the company. Jefferies Financial Group lifted their target price on BellRing Brands from $61.00 to $84.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Needham & Company LLC reaffirmed a “buy” rating and set a $66.00 target price on shares of BellRing Brands in a research report on Tuesday, August 6th. Truist Financial boosted their price target on shares of BellRing Brands from $60.00 to $75.00 and gave the stock a “hold” rating in a research report on Wednesday. JPMorgan Chase & Co. decreased their target price on BellRing Brands from $65.00 to $64.00 and set an “overweight” rating for the company in a research note on Wednesday, August 7th. Finally, Stephens restated an “equal weight” rating and issued a $55.00 price target on shares of BellRing Brands in a report on Tuesday, August 6th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $74.27.

BellRing Brands Stock Performance

Shares of BellRing Brands stock opened at $76.54 on Wednesday. The stock has a market cap of $9.89 billion, a PE ratio of 40.93, a PEG ratio of 1.63 and a beta of 0.84. BellRing Brands has a 52-week low of $48.06 and a 52-week high of $76.68. The firm has a 50-day moving average of $65.25 and a 200-day moving average of $59.19.

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 negative return on equity of 103.89% and a net margin of 12.35%. The company had revenue of $555.80 million for the quarter, compared to analyst estimates of $545.00 million. During the same period in the prior year, the firm posted $0.41 EPS. BellRing Brands’s quarterly revenue was up 17.6% on a year-over-year basis. Equities research analysts predict that BellRing Brands will post 2.12 earnings per share for the current fiscal year.

Institutional Investors Weigh In On BellRing Brands

Institutional investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. raised its position in BellRing Brands by 73.0% in the first quarter. Russell Investments Group Ltd. now owns 57,154 shares of the company’s stock worth $3,374,000 after acquiring an additional 24,126 shares during the period. Vanguard Group Inc. grew its stake in BellRing Brands by 5.3% in the 1st quarter. Vanguard Group Inc. now owns 13,978,857 shares of the company’s stock worth $825,172,000 after buying an additional 698,121 shares in the last quarter. Acadian Asset Management LLC increased its position in shares of BellRing Brands by 12.7% during the 1st quarter. Acadian Asset Management LLC now owns 8,105 shares of the company’s stock valued at $478,000 after purchasing an additional 914 shares during the last quarter. O Shaughnessy Asset Management LLC grew its holdings in shares of BellRing Brands by 96.5% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 15,516 shares of the company’s stock valued at $916,000 after purchasing an additional 7,620 shares during the last quarter. Finally, Bessemer Group Inc. increased its holdings in shares of BellRing Brands by 3.8% in the first quarter. Bessemer Group Inc. now owns 7,459 shares of the company’s stock worth $440,000 after buying an additional 276 shares during the period. 94.97% of the stock is owned by institutional investors.

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.