Monster Beverage (NASDAQ:MNST) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Friday. The brokerage currently has a $75.00 price target on the stock. Zacks Investment Research‘s price objective would indicate a potential upside of 12.83% from the company’s current price.
According to Zacks, “Shares of Monster Beverage have gained 52.7% in the past year, outperforming the 17.9% rally of the industry. Also, earnings estimate for 2018 have moved north over the past 30 days. The company’s strong portfolio and focus on innovation should drive the stock’s performance in the upcoming quarters as well. The deal with Coca-Cola is expected to boost Monster Beverage’s presence in the international energy drinks market while its focus on innovation is likely to drive sales. However, softness in beverage industry, unfavorable currency translations and higher expenses in the United States raise concerns.”
Several other equities analysts have also recently commented on MNST. Royal Bank of Canada reissued a “buy” rating and set a $61.00 target price on shares of Monster Beverage in a research report on Friday, September 22nd. Stifel Nicolaus reissued a “buy” rating and set a $57.00 target price on shares of Monster Beverage in a research report on Saturday, September 23rd. Jefferies Group reissued a “buy” rating and set a $65.00 target price on shares of Monster Beverage in a research report on Friday, October 13th. Citigroup set a $60.00 target price on shares of Monster Beverage and gave the stock a “buy” rating in a research report on Wednesday, October 18th. Finally, Cowen reissued a “buy” rating and set a $58.00 target price on shares of Monster Beverage in a research report on Friday, October 27th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Monster Beverage currently has a consensus rating of “Buy” and a consensus price target of $63.46.
Monster Beverage (NASDAQ:MNST) opened at $66.47 on Friday. Monster Beverage has a 1 year low of $41.02 and a 1 year high of $67.24. The company has a market cap of $37,490.00, a P/E ratio of 48.52, a price-to-earnings-growth ratio of 1.97 and a beta of 0.94.
Monster Beverage (NASDAQ:MNST) last posted its earnings results on Wednesday, November 8th. The company reported $0.40 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.40. Monster Beverage had a net margin of 23.92% and a return on equity of 23.45%. The firm had revenue of $909.50 million for the quarter, compared to analysts’ expectations of $903.82 million. During the same quarter last year, the firm earned $0.34 EPS. The company’s quarterly revenue was up 15.4% compared to the same quarter last year. equities analysts anticipate that Monster Beverage will post 1.48 earnings per share for the current year.
In related news, Vice Chairman Hilton H. Schlosberg sold 13,983 shares of Monster Beverage stock in a transaction that occurred on Tuesday, January 9th. The shares were sold at an average price of $64.53, for a total value of $902,322.99. Following the completion of the transaction, the insider now directly owns 967,456 shares in the company, valued at approximately $62,429,935.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Rodney C. Sacks sold 898 shares of Monster Beverage stock in a transaction that occurred on Thursday, December 28th. The shares were sold at an average price of $64.51, for a total transaction of $57,929.98. The disclosure for this sale can be found here. Insiders sold a total of 268,026 shares of company stock worth $17,179,867 in the last ninety days. 9.40% of the stock is currently owned by insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Skylands Capital LLC purchased a new position in Monster Beverage in the 3rd quarter valued at approximately $276,000. Douglas Lane & Associates LLC grew its stake in Monster Beverage by 31.1% in the 3rd quarter. Douglas Lane & Associates LLC now owns 8,005 shares of the company’s stock valued at $442,000 after buying an additional 1,900 shares in the last quarter. TT International grew its stake in Monster Beverage by 6.2% in the 2nd quarter. TT International now owns 48,157 shares of the company’s stock valued at $2,392,000 after buying an additional 2,818 shares in the last quarter. Castleark Management LLC grew its stake in Monster Beverage by 63.1% in the 2nd quarter. Castleark Management LLC now owns 598,595 shares of the company’s stock valued at $29,738,000 after buying an additional 231,489 shares in the last quarter. Finally, Rathbone Brothers plc grew its stake in Monster Beverage by 21.2% in the 3rd quarter. Rathbone Brothers plc now owns 476,150 shares of the company’s stock valued at $26,307,000 after buying an additional 83,150 shares in the last quarter. Institutional investors and hedge funds own 65.69% of the company’s stock.
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Monster Beverage Company Profile
Monster Beverage Corporation is a holding company. The Company develop, market, sell and distribute alternative beverage category beverages under the brand names of Monster Energy, Monster Rehab, Monster Energy Extra Strength Nitrous Technology, Java Monster, X-Presso Monster, Muscle Monster, Punch Monster, Hansen’s, Hansen’s Natural Cane Soda, Junior Juice, Blue Sky, Hubert’s, Worx Energy and Peace Tea.
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