BellRing Brands (NYSE:BRBR) Upgraded to “Strong-Buy” at DA Davidson

BellRing Brands (NYSE:BRBR) was upgraded by DA Davidson to a “strong-buy” rating in a report issued on Monday,Zacks.com reports.

Several other equities research analysts also recently commented on BRBR. Jefferies Financial Group decreased their target price on shares of BellRing Brands from $38.00 to $28.00 and set a “buy” rating for the company in a research report on Monday, March 16th. TD Cowen dropped their price target on shares of BellRing Brands from $17.00 to $11.00 and set a “hold” rating on the stock in a research report on Wednesday, May 6th. Stifel Nicolaus cut their price target on BellRing Brands from $34.00 to $14.00 and set a “buy” rating for the company in a research note on Wednesday, May 6th. Barclays decreased their price objective on BellRing Brands from $22.00 to $13.00 and set an “overweight” rating for the company in a report on Wednesday, May 6th. Finally, JPMorgan Chase & Co. lowered their price objective on BellRing Brands from $21.00 to $13.00 and set an “overweight” rating for the company in a research note on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $22.47.

BellRing Brands Trading Up 4.2%

NYSE BRBR traded up $0.56 during mid-day trading on Monday, hitting $14.01. The company’s stock had a trading volume of 2,137,742 shares, compared to its average volume of 4,727,769. The firm has a market capitalization of $1.63 billion, a price-to-earnings ratio of 10.81, a PEG ratio of 6.83 and a beta of 0.45. The company’s 50 day simple moving average is $10.70 and its 200 day simple moving average is $17.21. BellRing Brands has a twelve month low of $7.82 and a twelve month high of $59.10.

BellRing Brands (NYSE:BRBR) last released its quarterly earnings data on Tuesday, May 5th. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.17). BellRing Brands had a negative return on equity of 44.06% and a net margin of 6.78%.The business had revenue of $598.70 million for the quarter, compared to analyst estimates of $608.88 million. During the same quarter in the previous year, the company posted $0.53 EPS. The business’s quarterly revenue was up 1.8% on a year-over-year basis. As a group, research analysts forecast that BellRing Brands will post 1.22 EPS for the current year.

Insider Activity

In other news, Director David Isaiah Finkelstein bought 4,000 shares of the stock in a transaction dated Wednesday, May 13th. The stock was bought at an average price of $9.23 per share, for a total transaction of $36,920.00. Following the completion of the acquisition, the director directly owned 13,326 shares in the company, valued at approximately $122,998.98. This trade represents a 42.89% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Danske Bank A S bought a new stake in BellRing Brands in the 3rd quarter worth about $29,000. Larson Financial Group LLC lifted its position in shares of BellRing Brands by 128.7% during the 4th quarter. Larson Financial Group LLC now owns 931 shares of the company’s stock worth $25,000 after buying an additional 524 shares in the last quarter. IFP Advisors Inc lifted its position in shares of BellRing Brands by 124.3% during the 3rd quarter. IFP Advisors Inc now owns 1,034 shares of the company’s stock worth $38,000 after buying an additional 573 shares in the last quarter. CI Investments Inc. lifted its position in shares of BellRing Brands by 439.1% during the 3rd quarter. CI Investments Inc. now owns 1,159 shares of the company’s stock worth $42,000 after buying an additional 944 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in shares of BellRing Brands by 42.6% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,248 shares of the company’s stock worth $72,000 after buying an additional 373 shares during the last quarter. 94.97% of the stock is currently owned by hedge funds and other institutional investors.

BellRing Brands Company Profile

BellRing Brands, Inc is a consumer packaged goods company specializing in high‐protein, better‐for‐you nutrition products. Formed in March 2020 as a spin‐off from Post Holdings, the company focuses on delivering convenient protein solutions to health‐conscious consumers through a portfolio of well‐known and emerging brands.

The company’s product offerings include ready‐to‐drink protein shakes, protein powders, nutrition bars and other performance nutrition items. BellRing Brands’ flagship brands include Premier Protein, a line of shakes and bars designed for everyday protein supplementation, as well as Dymatize and PowerBar, which cater to athletes and active individuals seeking advanced sports nutrition formulas.

BellRing Brands markets its products primarily across North America, leveraging relationships with major retailers, wholesale clubs and e-commerce platforms to reach consumers in the United States and Canada.