BellRing Brands (NYSE:BRBR) Shares Gap Up on Strong Earnings

BellRing Brands, Inc. (NYSE:BRBR) shares gapped up prior to trading on Tuesday after the company announced better than expected quarterly earnings. The stock had previously closed at $57.18, but opened at $62.50. BellRing Brands shares last traded at $60.37, with a volume of 246,961 shares trading hands.

The company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.11. BellRing Brands had a net margin of 9.52% and a negative return on equity of 56.67%. The company had revenue of $494.60 million for the quarter, compared to analyst estimates of $467.22 million. During the same period in the previous year, the business posted $0.24 earnings per share. BellRing Brands’s quarterly revenue was up 28.3% on a year-over-year basis.

Wall Street Analyst Weigh In

BRBR has been the topic of several analyst reports. Stifel Nicolaus lifted their target price on BellRing Brands from $63.00 to $67.00 and gave the company a “buy” rating in a research note on Wednesday. Morgan Stanley boosted their price objective on shares of BellRing Brands from $61.00 to $65.00 and gave the company an “overweight” rating in a research note on Thursday, March 7th. Barclays raised their target price on shares of BellRing Brands from $56.00 to $62.00 and gave the stock an “overweight” rating in a research note on Thursday, February 8th. Citigroup initiated coverage on shares of BellRing Brands in a research note on Thursday, February 1st. They set a “buy” rating and a $67.00 price target on the stock. Finally, Mizuho raised their price objective on shares of BellRing Brands from $60.00 to $68.00 and gave the company a “buy” rating in a research report on Wednesday. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, BellRing Brands currently has an average rating of “Moderate Buy” and an average price target of $61.58.

Institutional Trading of BellRing Brands

Several large investors have recently bought and sold shares of the company. Pathstone Family Office LLC purchased a new stake in shares of BellRing Brands in the 3rd quarter worth about $697,000. International Assets Investment Management LLC acquired a new stake in shares of BellRing Brands in the fourth quarter valued at approximately $5,076,000. Federated Hermes Inc. increased its stake in shares of BellRing Brands by 19.8% during the 3rd quarter. Federated Hermes Inc. now owns 264,718 shares of the company’s stock worth $10,914,000 after purchasing an additional 43,766 shares in the last quarter. Lord Abbett & CO. LLC raised its position in shares of BellRing Brands by 273.5% during the 3rd quarter. Lord Abbett & CO. LLC now owns 1,074,396 shares of the company’s stock worth $44,298,000 after purchasing an additional 786,756 shares during the last quarter. Finally, Boston Partners purchased a new stake in BellRing Brands in the 3rd quarter valued at approximately $19,316,000. Institutional investors and hedge funds own 94.97% of the company’s stock.

BellRing Brands Stock Performance

The business has a fifty day simple moving average of $57.88 and a 200 day simple moving average of $54.40. The stock has a market cap of $7.61 billion, a price-to-earnings ratio of 46.85, a PEG ratio of 2.18 and a beta of 0.85.

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.