TD Cowen Initiates Coverage on BellRing Brands (NYSE:BRBR)

Equities research analysts at TD Cowen assumed coverage on shares of BellRing Brands (NYSE:BRBR - Get Free Report) in a research report issued to clients and investors on Monday, Marketbeat.com reports. The firm set a "buy" rating and a $64.00 price target on the stock. TD Cowen's target price points to a potential upside of 16.13% from the company's previous close.

Several other research firms have also issued reports on BRBR. Citigroup began coverage on shares of BellRing Brands in a research report on Thursday, February 1st. They issued a "buy" rating and a $67.00 price target on the stock. Truist Financial cut shares of BellRing Brands from a "buy" rating to a "hold" rating and reduced their price objective for the company from $55.00 to $50.00 in a research note on Wednesday, January 3rd. Barclays boosted their price objective on shares of BellRing Brands from $56.00 to $62.00 and gave the company an "overweight" rating in a research note on Thursday, February 8th. Stifel Nicolaus boosted their price objective on shares of BellRing Brands from $60.00 to $63.00 and gave the company a "buy" rating in a research note on Wednesday, February 7th. Finally, Mizuho boosted their price objective on shares of BellRing Brands from $57.00 to $60.00 and gave the company a "buy" rating in a research note on Thursday, January 18th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, BellRing Brands presently has a consensus rating of "Moderate Buy" and a consensus target price of $57.62.

BellRing Brands Stock Performance

BRBR stock traded up $1.13 during mid-day trading on Monday, hitting $55.11. The company had a trading volume of 994,753 shares, compared to its average volume of 1,228,641. The firm has a market cap of $7.22 billion, a PE ratio of 44.44, a price-to-earnings-growth ratio of 2.05 and a beta of 0.83. BellRing Brands has a 12 month low of $34.58 and a 12 month high of $62.76. The stock's fifty day moving average price is $57.84 and its two-hundred day moving average price is $53.37.

BellRing Brands (NYSE:BRBR - Get Free Report) last announced its quarterly earnings data on Monday, February 5th. The company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.39 by $0.04. BellRing Brands had a net margin of 9.52% and a negative return on equity of 56.67%. The business had revenue of $430.40 million for the quarter, compared to analyst estimates of $407.91 million. Equities analysts anticipate that BellRing Brands will post 1.67 earnings per share for the current year.

Insider Transactions at BellRing Brands

In related news, Director Elliot Stein, Jr. sold 1,000 shares of the company's stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $57.81, for a total transaction of $57,810.00. Following the completion of the sale, the director now directly owns 24,646 shares in the company, valued at approximately $1,424,785.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.80% of the company's stock.

Institutional Investors Weigh In On BellRing Brands

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Arkadios Wealth Advisors raised its holdings in BellRing Brands by 20.0% in the 3rd quarter. Arkadios Wealth Advisors now owns 8,535 shares of the company's stock worth $352,000 after purchasing an additional 1,424 shares in the last quarter. SG Americas Securities LLC raised its holdings in BellRing Brands by 400.9% in the 3rd quarter. SG Americas Securities LLC now owns 94,130 shares of the company's stock worth $3,881,000 after purchasing an additional 75,339 shares in the last quarter. Ziegler Capital Management LLC raised its holdings in BellRing Brands by 0.8% in the 3rd quarter. Ziegler Capital Management LLC now owns 179,065 shares of the company's stock worth $7,382,000 after purchasing an additional 1,488 shares in the last quarter. Exchange Traded Concepts LLC bought a new position in BellRing Brands in the 3rd quarter worth $690,000. Finally, Asset Management One Co. Ltd. raised its holdings in BellRing Brands by 41.0% in the 3rd quarter. Asset Management One Co. Ltd. now owns 9,451 shares of the company's stock worth $390,000 after purchasing an additional 2,746 shares in the last quarter. 94.97% of the stock is currently owned by institutional investors.

BellRing Brands Company Profile

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.