BellRing Brands (NYSE:BRBR) Upgraded at Zacks Research

BellRing Brands (NYSE:BRBR) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Thursday, Zacks reports.

BRBR has been the subject of a number of other reports. TD Cowen cut their price objective on BellRing Brands from $12.00 to $9.00 and set a “hold” rating for the company in a research report on Tuesday, October 13th. Barclays reduced their target price on BellRing Brands from $14.00 to $12.00 and set an “overweight” rating for the company in a research note on Friday, October 16th. JPMorgan Chase & Co. decreased their target price on BellRing Brands from $18.00 to $15.00 and set an “overweight” rating on the stock in a report on Tuesday, October 27th. BNP Paribas Exane started coverage on BellRing Brands in a research note on Friday, October 9th. They issued an “outperform” rating and a $12.00 price target on the stock. Finally, UBS Group set a $9.50 price target on BellRing Brands in a report on Thursday, October 15th. Ten investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $18.57.

BellRing Brands Price Performance

NYSE BRBR traded up $0.34 during trading on Thursday, reaching $10.58. 4,665,716 shares of the company’s stock were exchanged, compared to its average volume of 3,587,276. The business has a 50 day moving average price of $9.00 and a 200-day moving average price of $12.60. The stock has a market capitalization of $1.23 billion, a P/E ratio of 7.45, a PEG ratio of 4.86 and a beta of 0.47. BellRing Brands has a fifty-two week low of $7.33 and a fifty-two week high of $33.56.

Institutional Investors Weigh In On BellRing Brands

Several hedge funds have recently bought and sold shares of the stock. Diamond Hill Capital Management LLC Investment Advisor bought a new stake in shares of BellRing Brands during the second quarter worth approximately $42,868,000. Amundi increased its stake in shares of BellRing Brands by 106.4% during the first quarter. Amundi now owns 2,255,734 shares of the company’s stock worth $36,295,000 after purchasing an additional 1,162,996 shares during the period. Bank of America Corp DE lifted its holdings in BellRing Brands by 25.0% during the 1st quarter. Bank of America Corp DE now owns 1,248,761 shares of the company’s stock worth $20,093,000 after purchasing an additional 250,144 shares during the last quarter. Gabelli Funds LLC lifted its holdings in BellRing Brands by 13.5% during the 1st quarter. Gabelli Funds LLC now owns 620,225 shares of the company’s stock worth $9,979,000 after purchasing an additional 73,700 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in BellRing Brands by 42.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,265,443 shares of the company’s stock valued at $9,731,000 after purchasing an additional 378,466 shares during the period. 94.97% of the stock is currently owned by institutional investors and hedge funds.

BellRing Brands Company Profile

BellRing Brands, Inc. is a consumer nutrition company focused on convenient, protein-rich products. Its portfolio includes Premier Protein, which offers ready-to-drink shakes, powders and nutrition bars, and Dymatize, which makes sports nutrition products such as protein powders and supplements. The company sells its products primarily in the United States and also serves consumers in international markets. Its products are available through a range of retail and online channels. BellRing became an independent publicly traded company in 2019 after its separation from Post Holdings.