TD Cowen Initiates Coverage on BellRing Brands (NYSE:BRBR)

Stock analysts at TD Cowen assumed coverage on shares of BellRing Brands (NYSE:BRBR) in a note issued to investors on Monday, MarketBeat.com reports. The firm set a “buy” rating and a $64.00 price target on the stock. TD Cowen’s price objective would indicate a potential upside of 13.92% from the stock’s current price.

Several other research firms have also commented on BRBR. Morgan Stanley raised their price objective on BellRing Brands from $61.00 to $65.00 and gave the company an “overweight” rating in a research report on Thursday, March 7th. Truist Financial lowered BellRing Brands from a “buy” rating to a “hold” rating and cut their price objective for the company from $55.00 to $50.00 in a research report on Wednesday, January 3rd. Citigroup started coverage on BellRing Brands in a research report on Thursday, February 1st. They issued a “buy” rating and a $67.00 price objective on the stock. Needham & Company LLC raised their price objective on BellRing Brands from $52.00 to $62.00 and gave the company a “buy” rating in a research report on Tuesday, February 6th. Finally, Stephens reissued an “equal weight” rating and issued a $51.00 price objective on shares of BellRing Brands in a research report on Tuesday, February 6th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $57.62.

BellRing Brands Stock Up 2.0 %

BRBR stock opened at $56.18 on Monday. BellRing Brands has a 52-week low of $34.58 and a 52-week high of $62.76. The stock’s fifty day simple moving average is $57.79 and its 200-day simple moving average is $53.47. The stock has a market capitalization of $7.36 billion, a price-to-earnings ratio of 45.31, a price-to-earnings-growth ratio of 2.05 and a beta of 0.83.

BellRing Brands (NYSE:BRBR) last issued its earnings results on Monday, February 5th. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.04. The business had revenue of $430.40 million for the quarter, compared to analyst estimates of $407.91 million. BellRing Brands had a negative return on equity of 56.67% and a net margin of 9.52%. As a group, analysts anticipate that BellRing Brands will post 1.67 earnings per share for the current fiscal year.

Insider Buying and Selling at BellRing Brands

In other BellRing Brands news, Director Elliot Stein, Jr. sold 1,000 shares of BellRing Brands stock in a transaction that occurred on Wednesday, February 7th. The stock was 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 directly owns 24,646 shares in the company, valued at $1,424,785.26. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On BellRing Brands

A number of hedge funds have recently made changes to their positions in BRBR. Arkadios Wealth Advisors raised its holdings in BellRing Brands by 20.0% during the third quarter. Arkadios Wealth Advisors now owns 8,535 shares of the company’s stock worth $352,000 after purchasing an additional 1,424 shares in the last quarter. SG Americas Securities LLC raised its holdings in BellRing Brands by 400.9% during the third quarter. SG Americas Securities LLC now owns 94,130 shares of the company’s stock worth $3,881,000 after purchasing an additional 75,339 shares in the last quarter. Ziegler Capital Management LLC raised its holdings in BellRing Brands by 0.8% during the third quarter. Ziegler Capital Management LLC now owns 179,065 shares of the company’s stock worth $7,382,000 after purchasing an additional 1,488 shares in the last quarter. Exchange Traded Concepts LLC bought a new stake in BellRing Brands during the third quarter worth approximately $690,000. Finally, Asset Management One Co. Ltd. raised its holdings in BellRing Brands by 41.0% during the third quarter. Asset Management One Co. Ltd. now owns 9,451 shares of the company’s stock worth $390,000 after purchasing an additional 2,746 shares in the last quarter. 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.