BellRing Brands (NYSE:BRBR) Share Price Crosses Below 50 Day Moving Average – Here’s Why

BellRing Brands Inc. (NYSE:BRBR) shares passed below its 50-day moving average during trading on Thursday. The stock has a 50-day moving average of $9.16 and traded as low as $8.94. BellRing Brands shares last traded at $9.0430, with a volume of 2,901,505 shares traded.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. BNP Paribas Exane initiated coverage on shares of BellRing Brands in a research note on Friday, October 9th. They set an “outperform” rating and a $12.00 price target for the company. JPMorgan Chase & Co. decreased their target price on shares of BellRing Brands from $18.00 to $15.00 and set an “overweight” rating for the company in a research report on Tuesday. Weiss Ratings restated a “sell (d)” rating on shares of BellRing Brands in a report on Tuesday, October 6th. TD Cowen lowered their target price on shares of BellRing Brands from $12.00 to $9.00 and set a “hold” rating on the stock in a report on Tuesday, October 13th. Finally, Stephens reaffirmed an “overweight” rating and issued a $20.00 price target on shares of BellRing Brands in a research report on Thursday, July 9th. Ten research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, BellRing Brands presently has an average rating of “Hold” and an average price target of $18.57.

BellRing Brands Price Performance

The firm has a market cap of $1.06 billion, a P/E ratio of 6.44, a P/E/G ratio of 4.30 and a beta of 0.43. The company has a fifty day moving average of $9.14 and a 200-day moving average of $13.39.

BellRing Brands (NYSE:BRBR) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.07). The company had revenue of $570.40 million for the quarter, compared to the consensus estimate of $548.72 million. BellRing Brands had a net margin of 7.28% and a negative return on equity of 33.04%. BellRing Brands’s revenue was up 4.2% on a year-over-year basis. During the same quarter last year, the business posted $0.55 earnings per share. On average, sell-side analysts expect that BellRing Brands Inc. will post 1.02 EPS for the current fiscal year.

Institutional Investors Weigh In On BellRing Brands

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Diamond Hill Capital Management LLC Investment Advisor purchased a new position in BellRing Brands in the second quarter valued at about $42,868,000. Amundi increased its stake in shares of BellRing Brands by 106.4% during the 1st 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 last quarter. Bank of America Corp DE increased its stake in shares of 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 raised its holdings in shares of BellRing Brands by 13.5% in 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 period. Finally, Assenagon Asset Management S.A. raised its holdings in shares of 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 worth $9,731,000 after purchasing an additional 378,466 shares during the period. Hedge funds and other institutional investors own 94.97% of the company’s stock.

About BellRing Brands

BellRing Brands, Inc is a consumer nutrition company that develops, markets and sells protein-focused products. Its portfolio is led by Premier Protein, which offers ready-to-drink protein shakes, protein bars, powders and other nutrition products, and Dymatize, a sports nutrition brand known for protein powders, supplements and related products.

The company sells its products through a range of retail and e-commerce channels, including grocery, mass retail, club, drug and specialty nutrition outlets.