BellRing Brands (NYSE:BRBR) Stock Gets Price Target Reduction from JPMorgan Chase & Co.

Key Points

• JPMorgan lowered BellRing Brands’ price target from $18 to $15 while maintaining an “overweight” rating, implying approximately 62.8% upside from the stock’s $9.21 price.
• Analyst sentiment is mixed: BellRing has a consensus “Hold” rating and an average target of $18.57, with recent ratings ranging from “strong sell” to “outperform.”
• Shares have fallen sharply from their 52-week high of $33.56, while the company’s latest quarter showed revenue growth of 4.2% but earnings per share of $0.30, below the $0.37 analyst estimate.

BellRing Brands (NYSE:BRBR - Get Free Report) had its price objective decreased by stock analysts at JPMorgan Chase & Co. from $18.00 to $15.00 in a research note issued on Tuesday, Benzinga reports. The brokerage currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price objective would indicate a potential upside of 62.78% from the company's current price.

Other analysts also recently issued research reports about the company. Zacks Research downgraded BellRing Brands from a "hold" rating to a "strong sell" rating in a research note on Wednesday, October 14th. Weiss Ratings restated a "sell (d)" rating on shares of BellRing Brands in a report on Tuesday, October 6th. BNP Paribas Exane assumed coverage on BellRing Brands in a report on Friday, October 9th. They issued an "outperform" rating and a $12.00 price target for the company. Barclays cut their price objective on BellRing Brands from $14.00 to $12.00 and set an "overweight" rating on the stock in a report on Friday, October 16th. Finally, DA Davidson boosted their price objective on BellRing Brands from $13.00 to $15.00 and gave the company a "buy" rating in a research report on Wednesday, August 5th. Ten analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, BellRing Brands has a consensus rating of "Hold" and an average target price of $18.57.

BellRing Brands Price Performance

Shares of BRBR stock traded down $0.34 during trading hours on Tuesday, reaching $9.21. 1,788,646 shares of the company were exchanged, compared to its average volume of 4,404,075. BellRing Brands has a fifty-two week low of $7.33 and a fifty-two week high of $33.56. The stock's fifty day moving average is $9.26 and its two-hundred day moving average is $13.76. The company has a market cap of $1.07 billion, a price-to-earnings ratio of 6.50, a P/E/G ratio of 4.45 and a beta of 0.43.

BellRing Brands (NYSE:BRBR - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.30 EPS for the quarter, missing analysts' consensus estimates of $0.37 by ($0.07). The firm had revenue of $570.40 million during the quarter, compared to analyst estimates of $548.72 million. BellRing Brands had a negative return on equity of 33.04% and a net margin of 7.28%. BellRing Brands's revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.55 earnings per share. On average, research analysts anticipate that BellRing Brands will post 1.03 earnings per share for the current year.

Hedge Funds Weigh In On BellRing Brands

A number of institutional investors have recently bought and sold shares of BRBR. Iridian Asset Management LLC CT boosted its position in BellRing Brands by 56.0% during the third quarter. Iridian Asset Management LLC CT now owns 444,504 shares of the company's stock worth $3,418,000 after purchasing an additional 159,575 shares during the period. Isthmus Partners LLC lifted its stake in shares of BellRing Brands by 108.5% during the 3rd quarter. Isthmus Partners LLC now owns 284,751 shares of the company's stock worth $2,190,000 after buying an additional 148,182 shares during the last quarter. Counterpoint Mutual Funds LLC boosted its holdings in shares of BellRing Brands by 55.8% during the 3rd quarter. Counterpoint Mutual Funds LLC now owns 1,084,423 shares of the company's stock worth $8,339,000 after buying an additional 388,319 shares during the period. Assenagon Asset Management S.A. boosted its holdings in shares of BellRing Brands by 42.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,265,443 shares of the company's stock worth $9,731,000 after buying an additional 378,466 shares during the period. Finally, State of Alaska Department of Revenue bought a new stake in shares of BellRing Brands during the 3rd quarter worth about $39,000. Institutional investors and hedge funds own 94.97% of the company's stock.

About BellRing Brands

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.

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