BRBR
BellRing Brands, Inc.
stock NYSE

Atkins is hurting the valuation. Revenue has basically fallen off a cliff with them axing multiple skus off shelves.
Their other brands have benefited from growth over the last few years due to secular demand plus high price increases.
Hard to imagine they can lift margins much higher without hurting volume (prices have gotten very expensive). Leaves a big question mark on the terminal growth assumption.
This is impacting all players. Look at Bellring Brands (BRBR)
My DCF has a bear case around $21/share so there could be good alpha once a strategic update is provided to investors.

Atkins is hurting the valuation. Revenue has basically fallen off a cliff with them axing multiple skus off shelves.
Their other brands have benefited from growth over the last few years due to secular demand plus high price increases.
Hard to imagine they can lift margins much higher without hurting volume (prices have gotten very expensive). Leaves a big question mark on the terminal growth assumption.
This is impacting all players. Look at Bellring Brands (BRBR)
My DCF has a bear case around $21/share so there could be good alpha once a strategic update is provided to investors.