BellRing Brands (NYSE:BRBR) Given New $82.00 Price Target at Bank of America

BellRing Brands (NYSE:BRBR) had its price objective increased by Bank of America from $75.00 to $82.00 in a research report report published on Wednesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other analysts have also commented on the company. Evercore ISI lifted their price target on BellRing Brands from $65.00 to $70.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Stephens reaffirmed an “equal weight” rating and issued a $55.00 price target on shares of BellRing Brands in a report on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft raised their target price on BellRing Brands from $73.00 to $77.00 and gave the stock a “buy” rating in a research report on Wednesday. DA Davidson reissued a “neutral” rating and issued a $75.00 price objective on shares of BellRing Brands in a report on Tuesday. Finally, Jefferies Financial Group lifted their target price on shares of BellRing Brands from $61.00 to $84.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, BellRing Brands presently has a consensus rating of “Moderate Buy” and a consensus price target of $73.93.

BellRing Brands Trading Up 1.5 %

Shares of BRBR stock opened at $74.38 on Wednesday. The firm has a market capitalization of $9.61 billion, a PE ratio of 44.54, a price-to-earnings-growth ratio of 1.61 and a beta of 0.84. The firm has a fifty day simple moving average of $64.89 and a two-hundred day simple moving average of $59.07. BellRing Brands has a 12 month low of $46.03 and a 12 month high of $75.44.

BellRing Brands (NYSE:BRBR) last announced its quarterly 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. The business had revenue of $555.80 million during the quarter, compared to the consensus estimate of $545.00 million. BellRing Brands had a negative return on equity of 88.30% and a net margin of 11.55%. BellRing Brands’s revenue was up 17.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.41 earnings per share. On average, equities analysts predict that BellRing Brands will post 1.92 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Holocene Advisors LP bought a new stake in shares of BellRing Brands during the third quarter valued at approximately $69,998,000. D. E. Shaw & Co. Inc. boosted its stake in BellRing Brands by 135.2% during the second quarter. D. E. Shaw & Co. Inc. now owns 1,473,940 shares of the company’s stock worth $84,221,000 after acquiring an additional 847,161 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of BellRing Brands by 5.3% during the first quarter. Vanguard Group Inc. now owns 13,978,857 shares of the company’s stock valued at $825,172,000 after purchasing an additional 698,121 shares during the last quarter. Squarepoint Ops LLC boosted its position in shares of BellRing Brands by 665.2% in the 2nd quarter. Squarepoint Ops LLC now owns 627,361 shares of the company’s stock worth $35,847,000 after purchasing an additional 545,371 shares in the last quarter. Finally, E. Ohman J or Asset Management AB purchased a new stake in shares of BellRing Brands in the 3rd quarter worth approximately $30,753,000. Hedge funds and other institutional investors 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.