Zacks Investment Research upgraded shares of Monster Beverage Corporation (NASDAQ:MNST) from a hold rating to a buy rating in a report published on Monday, July 17th. Zacks Investment Research currently has $58.00 price target on the stock.
According to Zacks, “Product innovation plays a huge role in Monster Beverage's success. The company has several new products lined up for the remaining of 2017 which is expected to boost sales. Again, the deal with Coca-Cola is expected to enhance the company’s foothold in the international energy drinks market. The company’s proven track of innovation and product extensions is expected to drive sales further. Meanwhile, Monster Beverage's shares have outperformed the Zacks categorized Beverages-Soft Drinks industry, year-to-date. While the company has a favorable long-term outlook, we remain concerned because of soft industry trends. Increasing expenses to support top-line growth also add to the worries.”
A number of other equities analysts also recently commented on MNST. Credit Suisse Group set a $59.00 price objective on shares of Monster Beverage Corporation and gave the stock a buy rating in a report on Saturday, May 6th. UBS AG set a $59.00 target price on shares of Monster Beverage Corporation and gave the stock a buy rating in a research report on Wednesday, June 21st. Wells Fargo & Company reiterated a market perform rating and set a $45.00 target price on shares of Monster Beverage Corporation in a research report on Sunday, April 2nd. Jefferies Group LLC reiterated a buy rating and set a $62.00 target price on shares of Monster Beverage Corporation in a research report on Friday, April 28th. Finally, BidaskClub cut shares of Monster Beverage Corporation from a buy rating to a hold rating in a research report on Thursday, July 6th. Three equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. Monster Beverage Corporation has a consensus rating of Buy and a consensus price target of $56.28.
Shares of Monster Beverage Corporation (NASDAQ MNST) traded up 2.48% during trading on Monday, hitting $53.82. 2,744,673 shares of the company’s stock were exchanged. Monster Beverage Corporation has a 1-year low of $40.64 and a 1-year high of $161.74. The stock’s 50 day moving average is $51.84 and its 200 day moving average is $47.82. The firm has a market capitalization of $30.58 billion, a PE ratio of 40.71 and a beta of 0.96.
Monster Beverage Corporation (NASDAQ:MNST) last issued its quarterly earnings results on Tuesday, August 8th. The company reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by $0.01. Monster Beverage Corporation had a net margin of 23.98% and a return on equity of 22.96%. The company had revenue of $907.07 million during the quarter, compared to the consensus estimate of $901.38 million. During the same period last year, the company earned $0.99 earnings per share. Monster Beverage Corporation’s revenue for the quarter was up 9.6% on a year-over-year basis. On average, equities research analysts forecast that Monster Beverage Corporation will post $1.48 earnings per share for the current year.
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A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Federated Investors Inc. PA increased its stake in Monster Beverage Corporation by 36.2% in the fourth quarter. Federated Investors Inc. PA now owns 9,346 shares of the company’s stock worth $414,000 after buying an additional 2,483 shares during the period. Dimensional Fund Advisors LP increased its stake in Monster Beverage Corporation by 204.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 940,414 shares of the company’s stock worth $41,701,000 after buying an additional 631,931 shares during the period. Stifel Financial Corp increased its stake in Monster Beverage Corporation by 210.6% in the first quarter. Stifel Financial Corp now owns 233,660 shares of the company’s stock worth $10,802,000 after buying an additional 158,424 shares during the period. Axiom International Investors LLC DE increased its stake in Monster Beverage Corporation by 18.5% in the first quarter. Axiom International Investors LLC DE now owns 643,414 shares of the company’s stock worth $29,706,000 after buying an additional 100,614 shares during the period. Finally, Boston Advisors LLC increased its stake in Monster Beverage Corporation by 7,367.2% in the first quarter. Boston Advisors LLC now owns 386,653 shares of the company’s stock worth $17,852,000 after buying an additional 381,475 shares during the period. 65.91% of the stock is currently owned by hedge funds and other institutional investors.
About Monster Beverage Corporation
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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