TD Cowen Raises BellRing Brands (NYSE:BRBR) Price Target to $70.00

BellRing Brands (NYSE:BRBR) had its price objective lifted by TD Cowen from $64.00 to $70.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the stock. TD Cowen’s target price would indicate a potential upside of 19.97% from the stock’s current price.

Other equities analysts have also recently issued research reports about the stock. Citigroup began 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. Barclays boosted their target price on BellRing Brands from $56.00 to $62.00 and gave the stock an “overweight” rating in a research note on Thursday, February 8th. Morgan Stanley lifted their price objective on BellRing Brands from $61.00 to $65.00 and gave the company an “overweight” rating in a research note on Thursday, March 7th. Stifel Nicolaus boosted their price objective on BellRing Brands from $63.00 to $67.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Mizuho lifted their price target on shares of BellRing Brands from $60.00 to $68.00 and gave the stock a “buy” rating in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $61.58.

BellRing Brands Stock Down 0.2 %

BRBR stock traded down $0.09 during mid-day trading on Wednesday, hitting $58.35. 590,336 shares of the company were exchanged, compared to its average volume of 1,213,937. BellRing Brands has a 12-month low of $34.58 and a 12-month high of $62.76. The firm has a market capitalization of $7.64 billion, a P/E ratio of 47.10, a PEG ratio of 2.18 and a beta of 0.85. The business has a fifty day simple moving average of $57.88 and a 200-day simple moving average of $54.40.

BellRing Brands (NYSE:BRBR) last released its quarterly earnings results on Monday, May 6th. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.11. The company had revenue of $494.60 million for the quarter, compared to analysts’ expectations of $467.22 million. BellRing Brands had a negative return on equity of 56.67% and a net margin of 9.52%. The firm’s revenue was up 28.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.24 earnings per share. Research analysts predict that BellRing Brands will post 1.67 EPS for the current year.

Institutional Investors Weigh In On BellRing Brands

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Norges Bank acquired a new stake in shares of BellRing Brands in the fourth quarter valued at approximately $91,936,000. Franklin Resources Inc. boosted 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 during the period. Invesco Ltd. grew its position in BellRing Brands by 50.9% during the 3rd quarter. Invesco Ltd. now owns 2,687,684 shares of the company’s stock worth $110,813,000 after purchasing an additional 906,559 shares during the last quarter. Lord Abbett & CO. LLC increased its stake in BellRing Brands by 273.5% in the third quarter. Lord Abbett & CO. LLC now owns 1,074,396 shares of the company’s stock valued at $44,298,000 after purchasing an additional 786,756 shares during the period. Finally, American Century Companies Inc. acquired a new position in BellRing Brands in the third quarter valued at $23,552,000. 94.97% of the stock is owned by hedge funds and other institutional investors.

BellRing Brands Company Profile

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.