BellRing Brands (NYSE:BRBR) Shares Gap Up on Better-Than-Expected Earnings

Shares of BellRing Brands, Inc. (NYSE:BRBR) gapped up prior to trading on Tuesday after the company announced better than expected quarterly earnings. The stock had previously closed at $57.18, but opened at $62.50. BellRing Brands shares last traded at $60.37, with a volume of 246,961 shares trading hands.

The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.11. The company had revenue of $494.60 million for the quarter, compared to analyst estimates of $467.22 million. BellRing Brands had a net margin of 9.52% and a negative return on equity of 56.67%. BellRing Brands’s revenue was up 28.3% compared to the same quarter last year. During the same period last year, the company posted $0.24 earnings per share.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on BRBR. Stephens restated an “equal weight” rating and set a $53.00 price objective on shares of BellRing Brands in a research note on Tuesday. Needham & Company LLC restated a “buy” rating and issued a $62.00 price target on shares of BellRing Brands in a report on Tuesday. Barclays lifted their price objective on shares of BellRing Brands from $56.00 to $62.00 and gave the stock an “overweight” rating in a research report on Thursday, February 8th. Stifel Nicolaus raised their target price 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, TD Cowen started coverage on BellRing Brands in a research report on Monday, April 22nd. They set a “buy” rating and a $64.00 price target on the stock. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, BellRing Brands has an average rating of “Moderate Buy” and a consensus price target of $59.08.

Institutional Trading of BellRing Brands

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Rise Advisors LLC acquired a new stake in shares of BellRing Brands during the first quarter worth about $32,000. Parallel Advisors LLC raised its position in BellRing Brands by 153.6% during the 4th quarter. Parallel Advisors LLC now owns 596 shares of the company’s stock worth $33,000 after buying an additional 361 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. acquired a new stake in BellRing Brands during the 1st quarter valued at approximately $37,000. Global Wealth Management Investment Advisory Inc. purchased a new stake in shares of BellRing Brands in the 4th quarter valued at $44,000. Finally, Allworth Financial LP increased its stake in shares of BellRing Brands by 59.2% in the third quarter. Allworth Financial LP now owns 1,008 shares of the company’s stock worth $42,000 after acquiring an additional 375 shares during the period. Institutional investors and hedge funds own 94.97% of the company’s stock.

BellRing Brands Price Performance

The stock has a market cap of $7.65 billion, a PE ratio of 47.13, a PEG ratio of 2.18 and a beta of 0.85. The company’s fifty day moving average is $57.88 and its 200-day moving average is $54.40.

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.