BellRing Brands, the Consumer Defensive sector company, was revisited by a Wall Street analyst today. Analyst Robert Moskow from TD Cowen maintained a Hold rating on the stock and has a $11.00 price target.
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Robert Moskow has given his Hold rating due to a combination of factors tied to BellRing’s recent performance and market dynamics. The company missed second-quarter expectations, cut its long-term EBITDA outlook significantly, and saw margins compress as higher freight and protein costs, heavier promotions, and an inventory write-down weighed on profitability, even as volume growth was largely offset by weaker price/mix.
Moskow also sees a challenging path forward for pricing and market share defense in a highly competitive ready-to-drink shake category. While promotions have helped expand distribution and share, they have hurt underlying, non-promotional volume and may need to continue even as BellRing is likely to raise prices in line with peers, creating meaningful risk to volumes and earnings and justifying a reduced $11 price target and a neutral stance.
According to TipRanks, Moskow is an analyst with an average return of -0.6% and a 43.13% success rate. Moskow covers the Consumer Defensive sector, focusing on stocks such as JM Smucker, Once Upon a Farm, PBC, and Monster Beverage.