BellRing Brands (NYSE:BRBR) Shares Climb 7.7% – Here’s Why

BellRing Brands Inc. (NYSE:BRBR)’s share price traded up 7.7% on Thursday. The stock traded as high as $9.73 and last traded at $9.8450. 465,625 shares traded hands during mid-day trading, a decline of 89% from the average daily volume of 4,415,759 shares. The stock had previously closed at $9.14.

Analysts Set New Price Targets

BRBR has been the topic of a number of research analyst reports. UBS Group set a $9.50 target price on BellRing Brands in a research report on Thursday, October 15th. DA Davidson upped their price target on BellRing Brands from $13.00 to $15.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Weiss Ratings reiterated a “sell (d)” rating on shares of BellRing Brands in a report on Tuesday, October 6th. JPMorgan Chase & Co. raised their price objective on BellRing Brands from $13.00 to $17.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 28th. Finally, BNP Paribas Exane initiated coverage on BellRing Brands in a research report on Friday, October 9th. They set an “outperform” rating and a $12.00 price objective for the company. Ten equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $18.70.

BellRing Brands Price Performance

The firm has a market capitalization of $1.11 billion, a price-to-earnings ratio of 6.72, a PEG ratio of 4.54 and a beta of 0.43. The stock has a 50 day moving average price of $9.26 and a two-hundred day moving average price of $11.03.

BellRing Brands (NYSE:BRBR) last posted its earnings results on Tuesday, August 4th. The company reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.07). BellRing Brands had a negative return on equity of 33.04% and a net margin of 7.28%. The firm had revenue of $570.40 million for the quarter, compared to analyst estimates of $548.72 million. During the same period in the previous year, the company posted $0.55 EPS. BellRing Brands’s revenue was up 4.2% on a year-over-year basis. As a group, research analysts expect that BellRing Brands Inc. will post 1.03 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Diamond Hill Capital Management LLC Investment Advisor purchased a new stake in shares of BellRing Brands during the 2nd quarter worth $42,868,000. Amundi grew its stake in shares of BellRing Brands by 106.4% during the first quarter. Amundi now owns 2,255,734 shares of the company’s stock worth $36,295,000 after purchasing an additional 1,162,996 shares in the last quarter. Pacer Advisors Inc. grew its stake in shares of BellRing Brands by 2,125.3% during the first quarter. Pacer Advisors Inc. now owns 590,362 shares of the company’s stock worth $9,499,000 after purchasing an additional 563,833 shares in the last quarter. Steamboat Capital Partners LLC acquired a new position in shares of BellRing Brands during the second quarter worth $5,118,000. Finally, Counterpoint Mutual Funds LLC grew its stake in shares of BellRing Brands by 55.8% during the third quarter. Counterpoint Mutual Funds LLC now owns 1,084,423 shares of the company’s stock worth $8,339,000 after purchasing an additional 388,319 shares in the last quarter. 94.97% of the stock is currently owned by hedge funds and other institutional investors.

BellRing Brands Company Profile

BellRing Brands, Inc is a consumer nutrition company that develops, markets and sells protein-focused products. Its portfolio is led by Premier Protein, which offers ready-to-drink protein shakes, protein bars, powders and other nutrition products, and Dymatize, a sports nutrition brand known for protein powders, supplements and related products.

The company sells its products through a range of retail and e-commerce channels, including grocery, mass retail, club, drug and specialty nutrition outlets.