BellRing Brands Inc. (NYSE:BRBR – Get Free Report) reached a new 52-week low during trading on Thursday . The stock traded as low as $7.82 and last traded at $8.0050, with a volume of 2556302 shares trading hands. The stock had previously closed at $8.44.
Analysts Set New Price Targets
A number of research firms have weighed in on BRBR. TD Cowen upped their price target on shares of BellRing Brands from $11.00 to $12.00 and gave the stock a “hold” rating in a research report on Wednesday, August 5th. Stephens restated an “overweight” rating and issued a $20.00 price target on shares of BellRing Brands in a research report on Thursday, July 9th. JPMorgan Chase & Co. raised their price objective on BellRing Brands from $13.00 to $17.00 and gave the company an “overweight” rating in a research note on Tuesday, July 28th. Stifel Nicolaus lifted their price target on shares of BellRing Brands from $14.00 to $15.00 and gave the stock a “buy” rating in a research note on Wednesday, July 22nd. Finally, Zacks Research upgraded BellRing Brands from a “strong sell” rating to a “hold” rating in a research note on Monday, July 6th. Nine equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $19.82.
Read Our Latest Report on BellRing Brands
BellRing Brands Trading Down 7.0%
BellRing Brands (NYSE:BRBR – Get Free Report) last issued its quarterly earnings data 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). The company had revenue of $570.40 million during the quarter, compared to analyst estimates of $548.72 million. BellRing Brands had a net margin of 7.28% and a negative return on equity of 33.04%. The business’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period last year, the firm earned $0.55 EPS. As a group, research analysts forecast that BellRing Brands Inc. will post 1.03 EPS for the current fiscal year.
Institutional Inflows and Outflows
Institutional investors have recently bought and sold shares of the business. Diamond Hill Capital Management LLC Investment Advisor purchased a new stake in shares of BellRing Brands in the second quarter valued at about $42,868,000. Amundi grew its stake in shares of BellRing Brands by 106.4% in the 1st quarter. Amundi now owns 2,255,734 shares of the company’s stock valued at $36,295,000 after buying an additional 1,162,996 shares during the period. River Road Asset Management LLC acquired a new stake in shares of BellRing Brands during the 4th quarter worth approximately $56,465,000. BNP Paribas Financial Markets increased its holdings in shares of BellRing Brands by 125.3% during the 4th quarter. BNP Paribas Financial Markets now owns 1,964,321 shares of the company’s stock worth $52,506,000 after buying an additional 1,092,328 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its position in shares of BellRing Brands by 0.4% during the 1st quarter. Assenagon Asset Management S.A. now owns 1,342,471 shares of the company’s stock valued at $21,600,000 after buying an additional 5,671 shares during the period. 94.97% of the stock is owned by hedge funds and other institutional investors.
BellRing Brands Company Profile
BellRing Brands, Inc is a consumer packaged goods company focused on convenient nutrition products, particularly those designed to provide protein and support active lifestyles. Its portfolio is anchored by Premier Protein and Dymatize, which serve consumers through ready-to-drink shakes, protein powders, bars and related nutritional products.
Premier Protein offers protein shakes, powders and bars sold through grocery stores, mass retailers, club stores, drugstores, e-commerce platforms and other channels.
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