BellRing Brands (NYSE:BRBR) Coverage Initiated by Analysts at TD Cowen

Equities researchers at TD Cowen started coverage on shares of BellRing Brands (NYSE:BRBR) in a report issued on Monday, Marketbeat reports. The brokerage set a “buy” rating and a $64.00 price target on the stock. TD Cowen’s price objective would suggest a potential upside of 13.92% from the company’s previous close.

Several other research analysts have also issued reports on the stock. Mizuho increased their price target on shares of BellRing Brands from $57.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, January 18th. Stifel Nicolaus increased their price target on shares of BellRing Brands from $60.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday, February 7th. Morgan Stanley increased their price target on shares of BellRing Brands from $61.00 to $65.00 and gave the stock an “overweight” rating in a research report on Thursday, March 7th. Citigroup initiated coverage on shares of BellRing Brands in a research report on Thursday, February 1st. They issued a “buy” rating and a $67.00 price target for the company. Finally, 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 report on Thursday, February 8th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, BellRing Brands presently has a consensus rating of “Moderate Buy” and an average price target of $57.62.

BellRing Brands Stock Performance

NYSE BRBR opened at $56.18 on Monday. The firm has a 50-day simple moving average of $57.79 and a 200 day simple moving average of $53.47. BellRing Brands has a twelve month low of $34.58 and a twelve month high of $62.76. The stock has a market cap of $7.36 billion, a PE ratio of 45.31, a PEG ratio of 2.05 and a beta of 0.83.

BellRing Brands (NYSE:BRBR) last released its earnings results on Monday, February 5th. The company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.04. BellRing Brands had a net margin of 9.52% and a negative return on equity of 56.67%. The business had revenue of $430.40 million during the quarter, compared to analysts’ expectations of $407.91 million. Research analysts forecast that BellRing Brands will post 1.67 earnings per share for the current fiscal year.

Insider Transactions at BellRing Brands

In other news, Director Elliot Stein, Jr. sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $57.81, for a total transaction of $57,810.00. Following the completion of the sale, the director now owns 24,646 shares of the company’s stock, valued at $1,424,785.26. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.80% of the company’s stock.

Institutional Trading of BellRing Brands

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Louisiana State Employees Retirement System increased its holdings in shares of BellRing Brands by 2.2% in the first quarter. Louisiana State Employees Retirement System now owns 37,700 shares of the company’s stock valued at $2,225,000 after purchasing an additional 800 shares in the last quarter. State of Michigan Retirement System increased its holdings in shares of BellRing Brands by 1.9% in the first quarter. State of Michigan Retirement System now owns 32,145 shares of the company’s stock valued at $1,898,000 after purchasing an additional 600 shares in the last quarter. Hodges Capital Management Inc. acquired a new stake in shares of BellRing Brands in the first quarter valued at approximately $7,415,000. Artemis Investment Management LLP increased its holdings in shares of BellRing Brands by 13.7% in the first quarter. Artemis Investment Management LLP now owns 774,815 shares of the company’s stock valued at $45,720,000 after purchasing an additional 93,505 shares in the last quarter. Finally, Counterpoint Mutual Funds LLC increased its holdings in shares of BellRing Brands by 77.6% in the first quarter. Counterpoint Mutual Funds LLC now owns 9,015 shares of the company’s stock valued at $532,000 after purchasing an additional 3,939 shares in the last quarter. Institutional investors and hedge funds 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.