BellRing Brands (NYSE:BRBR – Free Report) had its price target hoisted by Barclays from $56.00 to $62.00 in a report published on Thursday morning, Benzinga reports. The firm currently has an overweight rating on the stock.
Other equities research analysts also recently issued reports about the stock. Evercore ISI raised their target price on shares of BellRing Brands from $47.00 to $53.00 and gave the company an outperform rating in a research note on Wednesday, November 22nd. DA Davidson started coverage on shares of BellRing Brands in a research report on Friday, December 8th. They issued a neutral rating and a $60.00 target price for the company. Needham & Company LLC raised their price target on shares of BellRing Brands from $52.00 to $62.00 and gave the stock a buy rating in a research report on Tuesday. Stephens reissued an equal weight rating and issued a $51.00 price objective on shares of BellRing Brands in a report on Tuesday. Finally, Morgan Stanley raised their target price on shares of BellRing Brands from $43.00 to $53.00 and gave the stock an overweight rating in a report on Wednesday, November 22nd. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus target price of $56.08.
BellRing Brands Trading Up 0.4 %
BellRing Brands (NYSE:BRBR – Get Free Report) last released its quarterly earnings data on Tuesday, November 21st. The company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.40 by $0.01. BellRing Brands had a negative return on equity of 56.67% and a net margin of 9.52%. The company had revenue of $472.60 million during the quarter, compared to the consensus estimate of $462.65 million. During the same quarter in the prior year, the firm posted $0.31 EPS. The firm’s revenue for the quarter was up 24.6% compared to the same quarter last year. On average, equities research analysts predict that BellRing Brands will post 1.6 EPS for the current fiscal year.
Insider Activity at BellRing Brands
In related news, Director Elliot Stein, Jr. sold 1,000 shares of the stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $57.81, for a total value of $57,810.00. Following the completion of the transaction, the director now owns 24,646 shares of the company’s stock, valued at approximately $1,424,785.26. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.80% of the stock is currently owned by insiders.
Hedge Funds Weigh In On BellRing Brands
A number of institutional investors and hedge funds have recently bought and sold shares of BRBR. Geneos Wealth Management Inc. bought a new stake in shares of BellRing Brands during the first quarter worth about $31,000. Point72 Middle East FZE acquired a new stake in BellRing Brands during the 4th quarter worth approximately $33,000. Allworth Financial LP grew its holdings in BellRing Brands by 59.2% during the 3rd quarter. Allworth Financial LP now owns 1,008 shares of the company’s stock worth $42,000 after acquiring an additional 375 shares during the last quarter. Global Wealth Management Investment Advisory Inc. acquired a new position in BellRing Brands in the 4th quarter valued at approximately $44,000. Finally, Smithfield Trust Co bought a new position in shares of BellRing Brands during the second quarter valued at $50,000. Institutional investors and hedge funds own 94.90% of the company’s stock.
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.
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