Jefferies Group LLC reiterated their buy rating on shares of Monster Beverage Corporation (NASDAQ:MNST) in a research note released on Monday, May 15th, StockTargetPrices.com reports. The brokerage currently has a $63.00 target price on the stock.
A number of other research analysts have also issued reports on MNST. Susquehanna Bancshares Inc set a $39.00 price target on Monster Beverage Corporation and gave the stock a hold rating in a research report on Sunday, January 15th. Stifel Nicolaus set a $59.00 price objective on Monster Beverage Corporation and gave the stock a buy rating in a research note on Sunday, January 15th. Vetr raised Monster Beverage Corporation from a buy rating to a strong-buy rating and set a $52.49 price objective on the stock in a research note on Monday, January 23rd. Zacks Investment Research downgraded Monster Beverage Corporation from a hold rating to a sell rating in a research note on Tuesday, February 21st. Finally, Cowen and Company reissued an outperform rating and issued a $52.00 price objective on shares of Monster Beverage Corporation in a research note on Tuesday, February 28th. Three investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of Buy and a consensus price target of $56.71.
Shares of Monster Beverage Corporation (NASDAQ:MNST) traded down 1.93% during trading on Monday, reaching $50.31. The company had a trading volume of 3,423,241 shares. Monster Beverage Corporation has a 52-week low of $40.64 and a 52-week high of $55.50. The firm has a 50-day moving average price of $48.80 and a 200-day moving average price of $45.81. The company has a market capitalization of $28.57 billion, a P/E ratio of 40.51 and a beta of 0.91.
Monster Beverage Corporation (NASDAQ:MNST) last announced its quarterly earnings results on Thursday, May 4th. The company reported $0.33 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.01. Monster Beverage Corporation had a return on equity of 23.36% and a net margin of 23.36%. The company had revenue of $742.10 million during the quarter, compared to analyst estimates of $738.54 million. During the same quarter in the previous year, the firm posted $0.79 EPS. The firm’s quarterly revenue was up 9.1% on a year-over-year basis. On average, analysts predict that Monster Beverage Corporation will post $1.48 EPS for the current fiscal year.
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Several hedge funds and other institutional investors have recently modified their holdings of the stock. Commonwealth Bank of Australia increased its position in shares of Monster Beverage Corporation by 31.9% in the third quarter. Commonwealth Bank of Australia now owns 827 shares of the company’s stock worth $122,000 after buying an additional 200 shares in the last quarter. Fuller & Thaler Asset Management Inc. acquired a new position in shares of Monster Beverage Corporation during the third quarter worth $235,000. Lombard Odier Asset Management Europe Ltd purchased a new position in shares of Monster Beverage Corporation during the third quarter worth approximately $259,000. Moore Capital Management LP purchased a new position in shares of Monster Beverage Corporation during the third quarter worth approximately $288,000. Finally, Two Sigma Securities LLC purchased a new position in shares of Monster Beverage Corporation during the third quarter worth approximately $323,000. Institutional investors and hedge funds own 66.03% of the company’s stock.
Monster Beverage Corporation 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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