BellRing Brands (NYSE:BRBR) PT Raised to $65.00 at Evercore ISI

BellRing Brands (NYSE:BRBR) had its price objective upped by analysts at Evercore ISI from $60.00 to $65.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Evercore ISI’s price objective indicates a potential upside of 11.63% from the company’s previous close.

A number of other equities research analysts have also recently weighed in on the company. Barclays raised their price target on BellRing Brands from $56.00 to $62.00 and gave the company an “overweight” rating in a report on Thursday, February 8th. Needham & Company LLC reaffirmed a “buy” rating and issued a $62.00 price target on shares of BellRing Brands in a report on Tuesday. Citigroup assumed coverage on shares of BellRing Brands in a report on Thursday, February 1st. They set a “buy” rating and a $67.00 price objective on the stock. Stifel Nicolaus upped their target price on shares of BellRing Brands from $63.00 to $67.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Stephens reissued an “equal weight” rating and issued a $53.00 price target on shares of BellRing Brands in a report on Tuesday. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $61.08.

BellRing Brands Stock Down 0.4 %

BRBR traded down $0.21 during midday trading on Wednesday, reaching $58.23. 306,958 shares of the company’s stock were exchanged, compared to its average volume of 1,210,901. BellRing Brands has a one year low of $34.58 and a one year high of $62.76. The firm has a market capitalization of $7.63 billion, a price-to-earnings ratio of 46.79, a price-to-earnings-growth ratio of 2.18 and a beta of 0.85. The business has a 50-day simple moving average of $57.88 and a two-hundred day simple moving average of $54.40.

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

Hedge Funds Weigh In On BellRing Brands

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in BellRing Brands by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 13,280,736 shares of the company’s stock worth $736,151,000 after acquiring an additional 155,252 shares in the last quarter. FMR LLC grew its position in shares of BellRing Brands by 1.9% in the 3rd quarter. FMR LLC now owns 4,524,052 shares of the company’s stock valued at $186,527,000 after purchasing an additional 84,750 shares during the period. Franklin Resources Inc. increased its stake in BellRing Brands by 60.3% during the 4th quarter. Franklin Resources Inc. now owns 3,666,584 shares of the company’s stock worth $203,239,000 after purchasing an additional 1,379,138 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in BellRing Brands by 0.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,794,535 shares of the company’s stock worth $154,903,000 after buying an additional 9,170 shares during the period. Finally, Invesco Ltd. boosted its holdings in shares of BellRing Brands by 50.9% in the third quarter. Invesco Ltd. now owns 2,687,684 shares of the company’s stock valued at $110,813,000 after buying an additional 906,559 shares during the period. 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.