BellRing Brands (NYSE:BRBR) Given Hold Rating at Truist Securities

Truist Securities restated their hold rating on shares of BellRing Brands (NYSE:BRBR) in a report released on Wednesday morning, Analyst Price Targets reports. The firm currently has a $30.00 price objective on the stock.

A number of other analysts have also recently weighed in on the stock. The Goldman Sachs Group upped their price target on shares of BellRing Brands from $34.00 to $37.00 and gave the stock a buy rating in a research report on Friday, July 2nd. Morgan Stanley upped their price target on shares of BellRing Brands from $34.00 to $37.00 and gave the stock an overweight rating in a research report on Tuesday, September 21st. Citigroup upped their price target on shares of BellRing Brands from $33.00 to $35.00 and gave the stock a buy rating in a research report on Tuesday, August 10th. Zacks Investment Research cut shares of BellRing Brands from a strong-buy rating to a hold rating in a research report on Monday, October 4th. Finally, Evercore ISI raised shares of BellRing Brands from an in-line rating to an outperform rating in a research report on Monday, August 9th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of Buy and an average target price of $31.14.

BRBR stock opened at $25.94 on Wednesday. The business has a fifty day simple moving average of $31.51 and a 200-day simple moving average of $29.43. BellRing Brands has a 52 week low of $17.90 and a 52 week high of $34.19. The company has a market cap of $1.02 billion, a price-to-earnings ratio of 29.87, a PEG ratio of 0.84 and a beta of 0.92.

BellRing Brands (NYSE:BRBR) last announced its quarterly earnings results on Thursday, August 5th. The company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.08. BellRing Brands had a net margin of 2.35% and a negative return on equity of 1.44%. The firm had revenue of $342.60 million during the quarter, compared to analysts’ expectations of $297.50 million. As a group, equities analysts forecast that BellRing Brands will post 0.94 earnings per share for the current year.

In related news, Chairman Robert V. Vitale purchased 10,300 shares of BellRing Brands stock in a transaction dated Monday, August 9th. The shares were acquired at an average price of $29.10 per share, with a total value of $299,730.00. Following the completion of the transaction, the chairman now owns 10,300 shares of the company’s stock, valued at approximately $299,730. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Craig L. Rosenthal purchased 1,725 shares of BellRing Brands stock in a transaction dated Monday, August 9th. The shares were bought at an average cost of $29.09 per share, for a total transaction of $50,180.25. Following the transaction, the senior vice president now directly owns 25,290 shares of the company’s stock, valued at approximately $735,686.10. The disclosure for this purchase can be found here. Company insiders own 0.20% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. New York State Common Retirement Fund raised its stake in BellRing Brands by 0.8% during the second quarter. New York State Common Retirement Fund now owns 39,916 shares of the company’s stock worth $1,251,000 after acquiring an additional 326 shares during the period. IndexIQ Advisors LLC raised its stake in BellRing Brands by 2.0% during the second quarter. IndexIQ Advisors LLC now owns 17,135 shares of the company’s stock worth $537,000 after acquiring an additional 328 shares during the period. Lazard Asset Management LLC raised its stake in BellRing Brands by 24.8% during the first quarter. Lazard Asset Management LLC now owns 2,196 shares of the company’s stock worth $51,000 after acquiring an additional 437 shares during the period. Truvestments Capital LLC raised its stake in BellRing Brands by 17.1% during the second quarter. Truvestments Capital LLC now owns 4,499 shares of the company’s stock worth $141,000 after acquiring an additional 656 shares during the period. Finally, Legal & General Group Plc raised its stake in BellRing Brands by 8.4% during the second quarter. Legal & General Group Plc now owns 11,439 shares of the company’s stock worth $359,000 after acquiring an additional 886 shares during the period. Hedge funds and other institutional investors own 97.81% of the company’s stock.

About BellRing Brands

BellRing Brands, Inc manufactures and sells nutrition products in the United States and internationally. It offers ready-to-drink (RTD) protein shakes, other RTD beverages, powders, and nutrition bars and supplements. The company provides its products primarily under the Premier Protein, Premier Nutrition, Dymatize, PowerBar, Bell Ring, Joint Juice, and Supreme Protein brands.

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Analyst Recommendations for BellRing Brands (NYSE:BRBR)

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