BellRing Brands (NYSE:BRBR) Given New $79.00 Price Target at Barclays

BellRing Brands (NYSE:BRBR) had its price objective boosted by Barclays from $74.00 to $79.00 in a report issued on Thursday morning,Benzinga reports. Barclays currently has an overweight rating on the stock.

A number of other research firms have also recently weighed in on BRBR. Citigroup increased their price objective on shares of BellRing Brands from $72.00 to $83.00 and gave the stock a “buy” rating in a report on Wednesday. Truist Financial lifted their price target on BellRing Brands from $60.00 to $75.00 and gave the company a “hold” rating in a report on Wednesday. JPMorgan Chase & Co. lowered their target price on BellRing Brands from $65.00 to $64.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 7th. Bank of America boosted their price target on BellRing Brands from $75.00 to $82.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on BellRing Brands from $73.00 to $77.00 and gave the stock a “buy” rating in a report on Wednesday. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $74.27.

BellRing Brands Stock Up 1.4 %

NYSE:BRBR traded up $1.06 during trading hours on Thursday, reaching $77.55. 140,077 shares of the stock were exchanged, compared to its average volume of 1,205,949. The firm has a 50 day simple moving average of $65.25 and a 200-day simple moving average of $59.19. BellRing Brands has a 52 week low of $48.06 and a 52 week high of $77.90. The stock has a market capitalization of $10.02 billion, a P/E ratio of 40.93, a P/E/G ratio of 1.63 and a beta of 0.84.

BellRing Brands (NYSE:BRBR) last issued its earnings results on Monday, November 18th. The company reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.01. The company had revenue of $555.80 million during the quarter, compared to the consensus estimate of $545.00 million. BellRing Brands had a negative return on equity of 103.89% and a net margin of 12.35%. BellRing Brands’s quarterly revenue was up 17.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.41 earnings per share. As a group, analysts expect that BellRing Brands will post 2.12 earnings per share for the current year.

Institutional Trading of BellRing Brands

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Opal Wealth Advisors LLC acquired a new stake in BellRing Brands in the 2nd quarter worth approximately $28,000. V Square Quantitative Management LLC acquired a new position in BellRing Brands in the 3rd quarter valued at $31,000. Farther Finance Advisors LLC raised its holdings in BellRing Brands by 243.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 669 shares of the company’s stock worth $41,000 after acquiring an additional 474 shares during the period. Truvestments Capital LLC acquired a new position in BellRing Brands during the 3rd quarter worth $44,000. Finally, Quarry LP grew its position in shares of BellRing Brands by 65.3% in the second quarter. Quarry LP now owns 957 shares of the company’s stock valued at $55,000 after purchasing an additional 378 shares during 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.