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

BellRing Brands, Inc. (NYSE:BRBR)’s stock price 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 EPS for the quarter, beating the consensus estimate of $0.34 by $0.11. BellRing Brands had a negative return on equity of 56.67% and a net margin of 9.52%. The business had revenue of $494.60 million for the quarter, compared to the consensus estimate of $467.22 million. During the same quarter in the prior year, the business earned $0.24 earnings per share. BellRing Brands’s revenue for the quarter was up 28.3% on a year-over-year basis.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on BRBR shares. Stifel Nicolaus boosted their price objective on BellRing Brands from $60.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday, February 7th. Morgan Stanley raised their price objective on shares of BellRing Brands from $61.00 to $65.00 and gave the stock an “overweight” rating in a report on Thursday, March 7th. Barclays boosted their target price on shares of BellRing Brands from $56.00 to $62.00 and gave the company an “overweight” rating in a report on Thursday, February 8th. Stephens restated an “equal weight” rating and issued a $53.00 price objective on shares of BellRing Brands in a research report on Tuesday. Finally, Mizuho boosted their price target on shares of BellRing Brands from $57.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, January 18th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, BellRing Brands currently has a consensus rating of “Moderate Buy” and a consensus target price of $59.08.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of BRBR. Illinois Municipal Retirement Fund bought a new position in shares of BellRing Brands in the first quarter worth approximately $1,021,000. Lisanti Capital Growth LLC grew its holdings in BellRing Brands by 4.9% in the 1st quarter. Lisanti Capital Growth LLC now owns 63,510 shares of the company’s stock worth $3,749,000 after acquiring an additional 2,990 shares during the last quarter. SG Americas Securities LLC increased its position in shares of BellRing Brands by 1,007.4% in the first quarter. SG Americas Securities LLC now owns 68,349 shares of the company’s stock valued at $4,035,000 after acquiring an additional 62,177 shares during the period. Empowered Funds LLC raised its stake in shares of BellRing Brands by 17.4% during the first quarter. Empowered Funds LLC now owns 70,415 shares of the company’s stock valued at $4,157,000 after acquiring an additional 10,424 shares during the last quarter. Finally, Quantbot Technologies LP boosted its holdings in shares of BellRing Brands by 112.2% during the first quarter. Quantbot Technologies LP now owns 41,820 shares of the company’s stock worth $2,469,000 after purchasing an additional 22,116 shares during the period. 94.97% of the stock is owned by institutional investors.

BellRing Brands Price Performance

The company has a market capitalization of $7.65 billion, a P/E ratio of 47.13, a PEG ratio of 2.18 and a beta of 0.85. The company has a 50 day moving average of $57.88 and a 200-day moving average of $54.40.

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.