BellRing Brands (NYSE:BRBR) Reaches New 52-Week High After Strong Earnings

Shares of BellRing Brands, Inc. (NYSE:BRBR) reached a new 52-week high during mid-day trading on Tuesday after the company announced better than expected quarterly earnings. The stock traded as high as $74.00 and last traded at $73.72, with a volume of 66432 shares traded. The stock had previously closed at $73.40.

The company reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.01. The firm had revenue of $555.80 million during the quarter, compared to analysts’ expectations of $545.00 million. BellRing Brands had a net margin of 11.55% and a negative return on equity of 88.30%. The company’s revenue for the quarter was up 17.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.41 earnings per share.

Analysts Set New Price Targets

Several research firms have recently issued reports on BRBR. Barclays lifted their price objective on shares of BellRing Brands from $68.00 to $74.00 and gave the company an “overweight” rating in a research report on Wednesday, November 6th. Truist Financial lifted their target price on BellRing Brands from $50.00 to $60.00 and gave the stock a “hold” rating in a report on Wednesday, October 16th. Jefferies Financial Group upped their price target on shares of BellRing Brands from $61.00 to $84.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Stephens reiterated an “equal weight” rating and issued a $55.00 target price on shares of BellRing Brands in a research note on Tuesday, August 6th. Finally, Bank of America raised their target price on shares of BellRing Brands from $67.00 to $75.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $67.33.

Institutional Trading of BellRing Brands

Institutional investors and hedge funds have recently made changes to their positions in the business. Opal Wealth Advisors LLC purchased a new stake in BellRing Brands in the 2nd quarter worth $28,000. V Square Quantitative Management LLC acquired a new stake in shares of BellRing Brands in the third quarter valued at about $31,000. Farther Finance Advisors LLC increased its stake in shares of BellRing Brands by 243.1% during the third 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. Truvestments Capital LLC acquired a new position in shares of BellRing Brands during the 3rd quarter worth about $44,000. Finally, Quarry LP lifted its stake in BellRing Brands by 65.3% in the 2nd quarter. Quarry LP now owns 957 shares of the company’s stock valued at $55,000 after buying an additional 378 shares in the last quarter. 94.97% of the stock is currently owned by hedge funds and other institutional investors.

BellRing Brands Stock Performance

The stock has a market capitalization of $9.25 billion, a PE ratio of 42.86, a price-to-earnings-growth ratio of 1.61 and a beta of 0.84. The stock’s 50 day moving average is $64.24 and its two-hundred day moving average is $58.85.

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.