BellRing Brands (NYSE:BRBR) Shares Gap Up on Analyst Upgrade

Key Points

• BellRing Brands shares opened higher after JPMorgan raised its price target from $13 to $17 and maintained an overweight rating. The stock opened at $13.88 versus a prior close of $13.07.
• Analyst sentiment remains mixed: BellRing has a consensus “Hold” rating and a consensus price target of $20.97, based on one Strong Buy, eight Buys, nine Holds and one Sell.
• The company’s latest quarterly results fell short of expectations, with EPS of $0.14 versus the $0.31 estimate and revenue of $598.7 million versus $608.9 million expected, although revenue increased 1.8% year over year.

BellRing Brands Inc. (NYSE:BRBR - Get Free Report)'s stock price gapped up prior to trading on Tuesday after JPMorgan Chase & Co. raised their price target on the stock from $13.00 to $17.00. The stock had previously closed at $13.07, but opened at $13.88. JPMorgan Chase & Co. currently has an overweight rating on the stock. BellRing Brands shares last traded at $13.6970, with a volume of 257,015 shares traded.

BRBR has been the topic of a number of other research reports. Sanford C. Bernstein lowered BellRing Brands from an "outperform" rating to a "market perform" rating and decreased their price objective for the company from $35.00 to $11.00 in a report on Wednesday, May 6th. DA Davidson raised shares of BellRing Brands to a "strong-buy" rating in a research note on Monday, July 6th. Barclays upped their target price on shares of BellRing Brands from $13.00 to $14.00 and gave the stock an "overweight" rating in a report on Tuesday, July 21st. TD Cowen decreased their price target on shares of BellRing Brands from $17.00 to $11.00 and set a "hold" rating on the stock in a research note on Wednesday, May 6th. Finally, UBS Group raised their price target on shares of BellRing Brands from $12.00 to $13.50 and gave the stock a "neutral" rating in a research note on Thursday, July 16th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $20.97.

Insider Buying and Selling at BellRing Brands

In other news, Director David Isaiah Finkelstein acquired 4,000 shares of the company's stock in a transaction that occurred on Wednesday, May 13th. The stock was purchased at an average price of $9.23 per share, with a total value of $36,920.00. Following the completion of the acquisition, the director owned 13,326 shares of the company's stock, valued at $122,998.98. This trade represents a 42.89% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.50% of the company's stock.

Institutional Trading of BellRing Brands

Several hedge funds have recently made changes to their positions in the company. Larson Financial Group LLC increased its stake in BellRing Brands by 128.7% during the fourth quarter. Larson Financial Group LLC now owns 931 shares of the company's stock worth $25,000 after acquiring an additional 524 shares during the last quarter. Danske Bank A S purchased a new stake in BellRing Brands in the 3rd quarter valued at about $29,000. IFP Advisors Inc lifted its position in BellRing Brands by 124.3% in the third quarter. IFP Advisors Inc now owns 1,034 shares of the company's stock valued at $38,000 after buying an additional 573 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its stake in BellRing Brands by 333.6% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,856 shares of the company's stock worth $50,000 after buying an additional 1,428 shares during the period. Finally, Signaturefd LLC increased its position in shares of BellRing Brands by 578.9% during the fourth quarter. Signaturefd LLC now owns 1,901 shares of the company's stock valued at $51,000 after acquiring an additional 1,621 shares during the last quarter. Hedge funds and other institutional investors own 94.97% of the company's stock.

BellRing Brands Stock Performance

The business's 50 day moving average price is $10.75 and its 200-day moving average price is $15.47. The firm has a market capitalization of $1.62 billion, a PE ratio of 10.77, a P/E/G ratio of 6.34 and a beta of 0.45.

BellRing Brands (NYSE:BRBR - Get Free Report) last posted its earnings results on Tuesday, May 5th. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.17). BellRing Brands had a net margin of 6.78% and a negative return on equity of 44.06%. The company had revenue of $598.70 million during the quarter, compared to analyst estimates of $608.88 million. During the same quarter last year, the business posted $0.53 EPS. The firm's revenue for the quarter was up 1.8% on a year-over-year basis. As a group, analysts anticipate that BellRing Brands Inc. will post 1.23 earnings per share for the current year.

BellRing Brands Company Profile

BellRing Brands, Inc is a consumer packaged goods company specializing in high‐protein, better‐for‐you nutrition products. Formed in March 2020 as a spin‐off from Post Holdings, the company focuses on delivering convenient protein solutions to health‐conscious consumers through a portfolio of well‐known and emerging brands.

The company's product offerings include ready‐to‐drink protein shakes, protein powders, nutrition bars and other performance nutrition items. BellRing Brands' flagship brands include Premier Protein, a line of shakes and bars designed for everyday protein supplementation, as well as Dymatize and PowerBar, which cater to athletes and active individuals seeking advanced sports nutrition formulas.

BellRing Brands markets its products primarily across North America, leveraging relationships with major retailers, wholesale clubs and e-commerce platforms to reach consumers in the United States and Canada.

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