BellRing Brands (NYSE:BRBR) Hits New 1-Year Low on Analyst Downgrade

BellRing Brands Inc. (NYSE:BRBR)’s stock price reached a new 52-week low on Monday after Stifel Nicolaus lowered their price target on the stock from $66.00 to $56.00. Stifel Nicolaus currently has a buy rating on the stock. BellRing Brands traded as low as $31.05 and last traded at $31.19, with a volume of 698269 shares trading hands. The stock had previously closed at $33.05.

A number of other analysts have also commented on the company. JPMorgan Chase & Co. cut their price target on BellRing Brands from $52.00 to $45.00 and set an “overweight” rating on the stock in a report on Thursday, October 9th. Barclays cut their target price on BellRing Brands from $75.00 to $50.00 and set an “overweight” rating on the stock in a research note on Thursday, August 7th. Zacks Research cut BellRing Brands from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 1st. Morgan Stanley cut their price objective on shares of BellRing Brands from $78.00 to $58.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 6th. Finally, Evercore ISI cut their price objective on shares of BellRing Brands from $82.00 to $64.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 6th. Fourteen analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $61.56.

Insiders Place Their Bets

In other BellRing Brands news, CEO Darcy Horn Davenport sold 1,600 shares of the company’s stock in a transaction on Friday, August 1st. The shares were sold at an average price of $54.18, for a total transaction of $86,688.00. Following the sale, the chief executive officer directly owned 193,978 shares of the company’s stock, valued at approximately $10,509,728.04. This represents a 0.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Craig L. Rosenthal bought 2,600 shares of the company’s stock in a transaction dated Wednesday, August 6th. The stock was purchased at an average cost of $37.29 per share, for a total transaction of $96,954.00. Following the completion of the acquisition, the insider owned 33,475 shares in the company, valued at $1,248,282.75. This trade represents a 8.42% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 6,616 shares of company stock valued at $65,995,248. 1.07% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On BellRing Brands

A number of large investors have recently added to or reduced their stakes in BRBR. Maseco LLP bought a new stake in BellRing Brands in the 2nd quarter valued at $25,000. Farther Finance Advisors LLC raised its position in shares of BellRing Brands by 132.6% in the third quarter. Farther Finance Advisors LLC now owns 735 shares of the company’s stock valued at $27,000 after purchasing an additional 419 shares during the period. TCTC Holdings LLC raised its position in shares of BellRing Brands by 87.6% in the first quarter. TCTC Holdings LLC now owns 407 shares of the company’s stock valued at $30,000 after purchasing an additional 190 shares during the period. First Horizon Advisors Inc. raised its position in shares of BellRing Brands by 283.3% in the first quarter. First Horizon Advisors Inc. now owns 460 shares of the company’s stock valued at $34,000 after purchasing an additional 340 shares during the period. Finally, Smartleaf Asset Management LLC raised its position in shares of BellRing Brands by 149.8% in 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 Stock Performance

The stock has a market capitalization of $4.02 billion, a P/E ratio of 18.21, a PEG ratio of 1.61 and a beta of 0.75. The company’s fifty day simple moving average is $36.80 and its two-hundred day simple moving average is $52.18.

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 firm had revenue of $282.40 million for the quarter. BellRing Brands had a net margin of 10.26% and a negative return on equity of 123.43%. On average, research analysts predict that BellRing Brands Inc. will post 2.23 earnings per share for the current fiscal year.

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

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.