BellRing Brands (NYSE:BRBR) Upgraded by Zacks Research to “Hold” Rating

Zacks Research upgraded shares of BellRing Brands (NYSE:BRBR) from a strong sell rating to a hold rating in a report published on Monday morning,Zacks.com reports.

Several other research analysts have also issued reports on BRBR. UBS Group reissued a “neutral” rating and set a $34.00 target price on shares of BellRing Brands in a research note on Friday, November 28th. Sanford C. Bernstein assumed coverage on BellRing Brands in a research note on Thursday, October 23rd. They issued an “outperform” rating and a $46.00 price objective for the company. DA Davidson set a $38.00 target price on BellRing Brands in a report on Thursday, November 20th. Mizuho decreased their price target on shares of BellRing Brands from $45.00 to $40.00 and set an “outperform” rating for the company in a research note on Monday, November 24th. Finally, Deutsche Bank Aktiengesellschaft set a $62.00 price objective on shares of BellRing Brands in a report on Monday, December 15th. Eleven investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, BellRing Brands presently has an average rating of “Moderate Buy” and a consensus target price of $44.00.

BellRing Brands Stock Down 2.4%

BRBR opened at $26.66 on Monday. BellRing Brands has a twelve month low of $22.45 and a twelve month high of $80.67. The company has a fifty day moving average of $30.09 and a 200-day moving average of $39.92. The stock has a market cap of $3.19 billion, a PE ratio of 15.87, a price-to-earnings-growth ratio of 3.65 and a beta of 0.67.

BellRing Brands (NYSE:BRBR) last released its earnings results on Tuesday, November 18th. The company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.03). BellRing Brands had a net margin of 9.33% and a negative return on equity of 95.87%. The firm had revenue of $648.20 million during the quarter, compared to analyst estimates of $633.21 million. During the same quarter in the previous year, the firm earned $0.51 EPS. BellRing Brands’s quarterly revenue was up 16.6% on a year-over-year basis. Sell-side analysts anticipate that BellRing Brands will post 2.23 EPS for the current fiscal year.

BellRing Brands declared that its board has approved a stock buyback program on Tuesday, September 2nd that permits the company to buyback $400.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 7.7% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Insider Activity

In related news, insider Douglas J. Cornille sold 3,970 shares of the stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $30.93, for a total transaction of $122,792.10. Following the completion of the sale, the insider directly owned 54,812 shares of the company’s stock, valued at approximately $1,695,335.16. This trade represents a 6.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Maseco LLP bought a new stake in shares of BellRing Brands during the 2nd quarter worth $25,000. Farther Finance Advisors LLC increased its holdings in BellRing Brands by 132.6% during the third quarter. Farther Finance Advisors LLC now owns 735 shares of the company’s stock worth $27,000 after buying an additional 419 shares during the last quarter. Danske Bank A S bought a new stake in BellRing Brands in the third quarter worth about $29,000. Pilgrim Partners Asia Pte Ltd purchased a new position in BellRing Brands in the third quarter valued at about $35,000. Finally, IFP Advisors Inc grew 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 valued at $38,000 after acquiring an additional 573 shares during the period. Institutional investors own 94.97% of the company’s stock.

About BellRing Brands

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.