JFrog stock rises as Cantor Fitzgerald maintains Overweight rating after strong Q2
In a recent transaction, Robert Vitale, a director at BellRing Brands, Inc. (NYSE:BRBR), sold 28,453 shares of the company's common stock. The shares were sold at a weighted average price of $76.91 each, totaling approximately $2.19 million. This sale was conducted to cover tax obligations related to the vesting of performance-based and time-based restricted stock units previously granted to Vitale. The transaction comes as BellRing's stock has shown remarkable strength, with a 43% gain over the past six months. According to InvestingPro data, the company maintains a healthy financial position with a current ratio of 3.35, indicating strong liquidity.
Following this transaction, Vitale retains direct ownership of 1,110,004 shares. Additionally, through indirect holdings, Vitale's 2020 Family Trust holds 132,483 shares, while his spouse's 2020 Family Trust holds 166,021 shares. The sales were executed in multiple transactions, with prices ranging from $76.67 to $77.38 per share. With a market capitalization of nearly $10 billion and 13 analysts recently revising earnings estimates upward, InvestingPro subscribers can access detailed analysis and 12 additional investment tips for BRBR.
In other recent news, BellRing Brands has been the subject of several analysts' reviews. Mizuho (NYSE:MFG) Securities raised its target price for BellRing Brands to $85, maintaining an Outperform rating, following the company's strong first-quarter earnings. The company's Premier shakes and Dymatize sales growth, particularly in international markets, were highlighted as key performance indicators.
Concurrently, Stifel analysts increased the price target for BellRing Brands to $83, keeping a Buy rating. The adjustment came after the company's robust first-quarter performance, with revenue and EBITDA surpassing expectations, leading the company to raise its full-year forecasts for both the top and bottom lines.
However, Jefferies reduced the price target for BellRing Brands to $86, while retaining a Buy rating, citing strong consumption trends and upcoming demand drivers. Meanwhile, DA Davidson kept a Neutral rating on BellRing Brands, maintaining a price target of $90, expressing caution regarding the stock's potential for further gains despite the company's strong start to the fiscal year.
These are all recent developments that provide investors with valuable insights into the performance and potential of BellRing Brands.
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