BellRing Brands (NYSE:BRBR) Upgraded to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of BellRing Brands (NYSE:BRBRGet Rating) from a sell rating to a hold rating in a report published on Tuesday morning, Zacks.com reports.

According to Zacks, “BellRing Brands, Inc. manufactures and sells nutrition products. The company offers protein shakes, other RTD beverages, powders and nutrition bars and supplements. It offers products under the Premier Protein, Dymatize and PowerBar, as well as Joint Juice and Supreme Protein brands. BellRing Brands, Inc. is based in St. Louis, Missouri. “

Other equities analysts have also recently issued reports about the company. The Goldman Sachs Group reduced their price objective on BellRing Brands from $43.00 to $37.00 and set a buy rating for the company in a report on Wednesday, March 16th. Morgan Stanley reduced their price objective on BellRing Brands from $32.00 to $29.00 and set an overweight rating for the company in a report on Tuesday, April 26th. BMO Capital Markets lifted their price objective on BellRing Brands from $33.00 to $36.00 and gave the stock an outperform rating in a report on Friday, March 11th. Credit Suisse Group reduced their price objective on BellRing Brands from $28.00 to $26.00 and set a neutral rating for the company in a report on Wednesday, March 16th. Finally, Citigroup initiated coverage on BellRing Brands in a report on Monday. They issued a buy rating for the company. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, BellRing Brands presently has an average rating of Buy and a consensus target price of $31.11.

Shares of BRBR stock opened at $23.94 on Tuesday. The stock has a fifty day moving average price of $24.10 and a 200 day moving average price of $25.03. The stock has a market cap of $930.98 million, a PE ratio of 33.25, a P/E/G ratio of 1.47 and a beta of 0.94. BellRing Brands has a 1 year low of $20.36 and a 1 year high of $34.19.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BRBR. Los Angeles Capital Management LLC increased its stake in BellRing Brands by 1.7% in the first quarter. Los Angeles Capital Management LLC now owns 24,637 shares of the company’s stock valued at $569,000 after purchasing an additional 422 shares during the last quarter. Gotham Asset Management LLC increased its stake in BellRing Brands by 6.9% in the third quarter. Gotham Asset Management LLC now owns 7,036 shares of the company’s stock valued at $216,000 after purchasing an additional 457 shares during the last quarter. State Board of Administration of Florida Retirement System increased its stake in BellRing Brands by 5.0% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 10,210 shares of the company’s stock valued at $291,000 after purchasing an additional 485 shares during the last quarter. Legal & General Group Plc increased its stake in BellRing Brands by 3.1% in the fourth quarter. Legal & General Group Plc now owns 19,502 shares of the company’s stock valued at $557,000 after purchasing an additional 594 shares during the last quarter. Finally, IndexIQ Advisors LLC increased its stake in BellRing Brands by 4.4% in the first quarter. IndexIQ Advisors LLC now owns 18,667 shares of the company’s stock valued at $431,000 after purchasing an additional 780 shares during the last quarter.

About BellRing Brands (Get Rating)

BellRing Brands, Inc, together with its subsidiaries, provides various nutrition products in the United States and internationally. It offers ready-to-drink shake and powder protein products primarily under the Premier Protein and Dymatize brands. The company sells its products through club, food, drug, mass, eCommerce, specialty, and convenience channels.

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