Monster Beverage Corporation (MNST) Given New $62.00 Price Target at Credit Suisse Group

Monster Beverage Corporation (NASDAQ:MNST) had its target price cut by Credit Suisse Group from $64.00 to $62.00 in a research report sent to investors on Thursday. They currently have an outperform rating on the stock.

A number of other analysts have also recently commented on MNST. Stifel Nicolaus reaffirmed a buy rating and set a $61.00 price target (up previously from $57.00) on shares of Monster Beverage Corporation in a research report on Thursday. Jefferies Group LLC lifted their price target on Monster Beverage Corporation from $63.00 to $65.00 and gave the stock a buy rating in a research report on Wednesday, August 9th. BMO Capital Markets reaffirmed an outperform rating and set a $65.00 price target (up previously from $58.00) on shares of Monster Beverage Corporation in a research report on Thursday. Cowen and Company reaffirmed an outperform rating and set a $67.00 price target (up previously from $58.00) on shares of Monster Beverage Corporation in a research report on Thursday. Finally, Zacks Investment Research cut Monster Beverage Corporation from a buy rating to a hold rating in a research report on Thursday, August 10th. Three investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. Monster Beverage Corporation presently has a consensus rating of Buy and an average target price of $58.68.

Shares of Monster Beverage Corporation (MNST) traded up $2.48 during mid-day trading on Thursday, reaching $61.16. The company had a trading volume of 4,589,000 shares, compared to its average volume of 2,210,244. Monster Beverage Corporation has a 1 year low of $40.64 and a 1 year high of $61.33. The stock has a market cap of $34,492.00, a P/E ratio of 41.60, a price-to-earnings-growth ratio of 2.18 and a beta of 0.91.

Monster Beverage Corporation (NASDAQ:MNST) last announced its earnings results on Wednesday, November 8th. The company reported $0.40 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.40. Monster Beverage Corporation had a return on equity of 23.45% and a net margin of 23.92%. The firm had revenue of $909.50 million for the quarter, compared to the consensus estimate of $903.82 million. During the same period in the previous year, the business earned $0.34 EPS. The firm’s revenue for the quarter was up 15.4% on a year-over-year basis. research analysts predict that Monster Beverage Corporation will post 1.48 EPS for the current fiscal year.

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In related news, Director Sydney Selati sold 10,000 shares of the company’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $56.00, for a total value of $560,000.00. Following the completion of the transaction, the director now owns 52,000 shares of the company’s stock, valued at approximately $2,912,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 9.40% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BB&T Investment Services Inc. raised its holdings in Monster Beverage Corporation by 48.0% in the 3rd quarter. BB&T Investment Services Inc. now owns 18,729 shares of the company’s stock worth $1,028,000 after purchasing an additional 6,071 shares during the period. Stifel Financial Corp raised its holdings in Monster Beverage Corporation by 11.2% in the 3rd quarter. Stifel Financial Corp now owns 238,934 shares of the company’s stock worth $13,209,000 after purchasing an additional 24,126 shares during the period. Tredje AP fonden raised its holdings in Monster Beverage Corporation by 36.6% in the 3rd quarter. Tredje AP fonden now owns 39,069 shares of the company’s stock worth $2,159,000 after purchasing an additional 10,470 shares during the period. Westfield Capital Management Co. LP raised its holdings in Monster Beverage Corporation by 10.0% in the 3rd quarter. Westfield Capital Management Co. LP now owns 1,117,209 shares of the company’s stock worth $61,726,000 after purchasing an additional 101,669 shares during the period. Finally, Commerzbank Aktiengesellschaft FI raised its holdings in Monster Beverage Corporation by 12.2% in the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 135,858 shares of the company’s stock worth $7,506,000 after purchasing an additional 14,727 shares during the period. 65.82% of the stock is owned by institutional investors.

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.

Analyst Recommendations for Monster Beverage Corporation (NASDAQ:MNST)

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