BellRing Brands (NYSE:BRBR) Price Target Cut to $64.00 by Analysts at Evercore ISI

Key Points

• Analysts at Evercore ISI lowered their price target for BellRing Brands from $82.00 to $64.00, while maintaining an "outperform" rating on the stock, indicating a potential upside of 68.97% from the current price.
• Other major analysts have also adjusted their price targets for BellRing Brands, with Citigroup lowering theirs from $90.00 to $80.00, and UBS Group from $71.00 to $63.00, showing a trend of reduced expectations for the stock.
• BellRing Brands' stock recently experienced a surge of 4.7%, with current trading around $37.88, significantly lower than its 12-month high of $80.67, reflecting increased volatility and shifting investor sentiment.

BellRing Brands (NYSE:BRBR - Get Free Report) had its price target cut by research analysts at Evercore ISI from $82.00 to $64.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an "outperform" rating on the stock. Evercore ISI's price target indicates a potential upside of 68.97% from the company's current price.

Other equities analysts also recently issued reports about the stock. Citigroup cut their price objective on shares of BellRing Brands from $90.00 to $80.00 and set a "buy" rating on the stock in a report on Wednesday, May 7th. UBS Group cut their price objective on shares of BellRing Brands from $71.00 to $63.00 and set a "neutral" rating on the stock in a report on Thursday, July 17th. Truist Financial cut their price target on shares of BellRing Brands from $60.00 to $40.00 and set a "hold" rating on the stock in a report on Wednesday. Stephens raised shares of BellRing Brands from an "equal weight" rating to an "overweight" rating and set a $50.00 price target on the stock in a report on Wednesday. Finally, Mizuho cut their price target on shares of BellRing Brands from $85.00 to $75.00 and set an "outperform" rating on the stock in a report on Wednesday, May 28th. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $72.13.

BellRing Brands Stock Up 4.7%

Shares of BRBR opened at $37.88 on Wednesday. BellRing Brands has a 12-month low of $34.02 and a 12-month high of $80.67. The business's fifty day moving average is $58.03 and its 200 day moving average is $67.22. The stock has a market cap of $4.81 billion, a P/E ratio of 21.66, a P/E/G ratio of 1.74 and a beta of 0.72.

BellRing Brands (NYSE:BRBR - Get Free Report) last issued its earnings results on Monday, August 4th. The company reported $0.55 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.49 by $0.06. The company had revenue of $547.50 million for the quarter, compared to analysts' expectations of $530.76 million. BellRing Brands had a negative return on equity of 139.86% and a net margin of 10.26%. BellRing Brands's quarterly revenue was up 6.2% compared to the same quarter last year. During the same period last year, the business earned $0.54 EPS. On average, analysts expect that BellRing Brands will post 2.23 EPS for the current year.

Insider Transactions at BellRing Brands

In related news, CEO Darcy Horn Davenport sold 1,600 shares of the business's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $54.18, for a total value of $86,688.00. Following the sale, the chief executive officer directly owned 193,978 shares in the company, valued at approximately $10,509,728.04. The trade was a 0.82% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last quarter, insiders sold 14,400 shares of company stock valued at $836,224. Insiders own 1.07% of the company's stock.

Institutional Investors Weigh In On BellRing Brands

Several hedge funds and other institutional investors have recently modified their holdings of BRBR. William Blair Investment Management LLC bought a new stake in shares of BellRing Brands during the second quarter valued at about $124,777,000. Axiom Investors LLC DE boosted its stake in BellRing Brands by 418.1% in the first quarter. Axiom Investors LLC DE now owns 2,248,924 shares of the company's stock worth $167,455,000 after buying an additional 1,814,811 shares in the last quarter. AQR Capital Management LLC boosted its stake in BellRing Brands by 284.2% in the fourth quarter. AQR Capital Management LLC now owns 2,278,508 shares of the company's stock worth $171,663,000 after buying an additional 1,685,525 shares in the last quarter. Junto Capital Management LP purchased a new stake in BellRing Brands in the first quarter worth approximately $97,725,000. Finally, Invesco Ltd. boosted its stake in shares of BellRing Brands by 35.7% during the fourth quarter. Invesco Ltd. now owns 4,266,375 shares of the company's stock valued at $321,429,000 after purchasing an additional 1,121,691 shares during the period. 94.97% of the stock is currently owned by institutional investors.

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.

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