BellRing Brands (NYSE:BRBR) Sets New 1-Year Low Following Analyst Downgrade

BellRing Brands Inc. (NYSE:BRBR) shares reached a new 52-week low during mid-day trading on Wednesday after Morgan Stanley lowered their price target on the stock from $58.00 to $43.00. Morgan Stanley currently has an overweight rating on the stock. BellRing Brands traded as low as $27.52 and last traded at $27.6390, with a volume of 4735866 shares trading hands. The stock had previously closed at $28.27.

Other equities analysts also recently issued reports about the company. Sanford C. Bernstein assumed coverage on BellRing Brands in a research report on Thursday, October 23rd. They set an “outperform” rating and a $46.00 target price on the stock. Mizuho lowered their price objective on BellRing Brands from $75.00 to $45.00 and set an “outperform” rating on the stock in a research report on Monday, August 18th. Stifel Nicolaus decreased their target price on shares of BellRing Brands from $66.00 to $56.00 and set a “buy” rating on the stock in a research note on Friday, October 24th. JPMorgan Chase & Co. dropped their price target on shares of BellRing Brands from $52.00 to $45.00 and set an “overweight” rating for the company in a research report on Thursday, October 9th. Finally, Zacks Research cut shares of BellRing Brands from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 1st. Fourteen equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, BellRing Brands has a consensus rating of “Moderate Buy” and a consensus price target of $60.63.

Institutional Trading of BellRing Brands

A number of large investors have recently added to or reduced their stakes in the company. Maseco LLP purchased a new position in shares of BellRing Brands in the second quarter valued at $25,000. Farther Finance Advisors LLC raised its position in shares of BellRing Brands by 132.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 735 shares of the company’s stock valued at $27,000 after buying an additional 419 shares in the last quarter. TCTC Holdings LLC lifted its holdings in shares of BellRing Brands by 87.6% in the 1st quarter. TCTC Holdings LLC now owns 407 shares of the company’s stock valued at $30,000 after acquiring an additional 190 shares during the last quarter. Pilgrim Partners Asia Pte Ltd purchased a new position in BellRing Brands in the third quarter worth about $35,000. Finally, Smartleaf Asset Management LLC raised its position in BellRing Brands by 149.8% during the first quarter. Smartleaf Asset Management LLC now owns 517 shares of the company’s stock valued at $38,000 after purchasing an additional 310 shares during the period. Institutional investors own 94.97% of the company’s stock.

BellRing Brands Price Performance

The firm has a market capitalization of $3.48 billion, a PE ratio of 15.79, a P/E/G ratio of 1.57 and a beta of 0.70. The business has a 50-day simple moving average of $34.17 and a 200-day simple moving average of $48.40.

BellRing Brands (NYSE:BRBR) last released its quarterly earnings results on Monday, February 28th. The company reported $0.22 earnings per share for the quarter. The company had revenue of $282.40 million for the quarter. BellRing Brands had a negative return on equity of 123.43% and a net margin of 10.26%. On average, research analysts expect that BellRing Brands Inc. will post 2.23 earnings per share for the current year.

BellRing Brands announced that its board has initiated a stock buyback program on Tuesday, September 2nd that permits the company to repurchase $400.00 million in shares. This repurchase authorization permits the company to buy up to 7.7% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.

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.