Citigroup Forecasts Strong Price Appreciation for BellRing Brands (NYSE:BRBR) Stock

BellRing Brands (NYSE:BRBR) had its price objective upped by Citigroup from $83.00 to $90.00 in a research note published on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

Several other brokerages have also recently issued reports on BRBR. Stifel Nicolaus lifted their target price on shares of BellRing Brands from $67.00 to $81.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. DA Davidson restated a “neutral” rating and issued a $75.00 price objective on shares of BellRing Brands in a report on Tuesday, November 19th. Evercore ISI increased their target price on BellRing Brands from $70.00 to $78.00 and gave the company an “outperform” rating in a research note on Wednesday, November 20th. Bank of America upped their price target on BellRing Brands from $75.00 to $82.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. Finally, TD Cowen lifted their price objective on BellRing Brands from $83.00 to $86.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $77.13.

BellRing Brands Stock Performance

BRBR stock opened at $78.21 on Wednesday. The firm has a 50 day moving average price of $75.90 and a 200-day moving average price of $65.31. BellRing Brands has a 52-week low of $48.06 and a 52-week high of $80.06. The firm has a market capitalization of $10.07 billion, a price-to-earnings ratio of 41.82, a PEG ratio of 2.57 and a beta of 0.86.

BellRing Brands (NYSE:BRBR) last released its earnings results on Monday, November 18th. The company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.50 by $0.01. BellRing Brands had a negative return on equity of 103.89% and a net margin of 12.35%. The business had revenue of $555.80 million for the quarter, compared to the consensus estimate of $545.00 million. During the same period in the previous year, the company posted $0.41 earnings per share. The company’s revenue for the quarter was up 17.6% compared to the same quarter last year. As a group, sell-side analysts forecast that BellRing Brands will post 2.16 earnings per share for the current fiscal year.

Hedge Funds Weigh In On BellRing Brands

Institutional investors and hedge funds have recently made changes to their positions in the business. V Square Quantitative Management LLC purchased a new stake in BellRing Brands during the third quarter valued at approximately $31,000. Farther Finance Advisors LLC increased its stake in shares of 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 purchasing an additional 474 shares in the last quarter. UMB Bank n.a. raised its holdings in BellRing Brands by 69.4% in the 4th quarter. UMB Bank n.a. now owns 571 shares of the company’s stock worth $43,000 after purchasing an additional 234 shares during the period. Truvestments Capital LLC bought a new position in BellRing Brands in the 3rd quarter worth $44,000. Finally, E Fund Management Hong Kong Co. Ltd. purchased a new position in BellRing Brands during the fourth quarter valued at $52,000. Hedge funds and other institutional investors 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.