BellRing Brands (NYSE:BRBR) Price Target Increased to $70.00 by Analysts at TD Cowen

BellRing Brands (NYSE:BRBR) had its price target lifted by TD Cowen from $64.00 to $70.00 in a research note issued to investors on Wednesday, Benzinga reports. They currently have a buy rating on the stock.

BRBR has been the subject of several other reports. Citigroup assumed coverage on shares of BellRing Brands in a research report on Thursday, February 1st. They set a buy rating and a $67.00 price target for the company. Morgan Stanley increased their target price on shares of BellRing Brands from $61.00 to $65.00 and gave the stock an overweight rating in a report on Thursday, March 7th. Mizuho increased their target price on shares of BellRing Brands from $60.00 to $68.00 and gave the stock a buy rating in a report on Wednesday. Barclays increased their price target on shares of BellRing Brands from $56.00 to $62.00 and gave the stock an overweight rating in a research note on Thursday, February 8th. Finally, Evercore ISI increased their price target on shares of BellRing Brands from $60.00 to $65.00 and gave the stock an outperform rating in a research note on Wednesday. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $61.83.

BellRing Brands Stock Up 2.0 %

NYSE:BRBR traded up $1.15 during midday trading on Wednesday, hitting $59.23. The company had a trading volume of 1,909,495 shares, compared to its average volume of 1,231,092. BellRing Brands has a 52-week low of $34.58 and a 52-week high of $62.76. The stock’s fifty day moving average price is $57.88 and its 200-day moving average price is $54.43. The company has a market capitalization of $7.76 billion, a PE ratio of 47.77, a P/E/G ratio of 2.18 and a beta of 0.85.

BellRing Brands (NYSE:BRBR) last posted its quarterly earnings results on Monday, May 6th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.11. BellRing Brands had a net margin of 9.52% and a negative return on equity of 56.67%. The business had revenue of $494.60 million during the quarter, compared to analyst estimates of $467.22 million. During the same period in the prior year, the business posted $0.24 earnings per share. The company’s revenue was up 28.3% on a year-over-year basis. As a group, research analysts forecast that BellRing Brands will post 1.67 earnings per share for the current year.

Institutional Investors Weigh In On BellRing Brands

Several institutional investors and hedge funds have recently added to or reduced their stakes in BRBR. Arizona State Retirement System increased its holdings in BellRing Brands by 0.8% in the 3rd quarter. Arizona State Retirement System now owns 37,813 shares of the company’s stock valued at $1,559,000 after acquiring an additional 295 shares during the last quarter. Spire Wealth Management increased its holdings in shares of BellRing Brands by 40.0% in the 4th quarter. Spire Wealth Management now owns 1,050 shares of the company’s stock worth $56,000 after buying an additional 300 shares during the last quarter. Parallel Advisors LLC increased its holdings in shares of BellRing Brands by 153.6% in the 4th quarter. Parallel Advisors LLC now owns 596 shares of the company’s stock worth $33,000 after buying an additional 361 shares during the last quarter. Allworth Financial LP increased its holdings in shares of BellRing Brands by 59.2% in the 3rd quarter. Allworth Financial LP now owns 1,008 shares of the company’s stock worth $42,000 after buying an additional 375 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of BellRing Brands by 0.7% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 68,764 shares of the company’s stock worth $2,835,000 after buying an additional 494 shares during the last quarter. 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.