Monster Beverage (NASDAQ:MNST) Stock Price Target Lowered at JPMorgan Chase & Co.

Monster Beverage (NASDAQ:MNST) had its target price decreased by investment analysts at JPMorgan Chase & Co. from $49.50 to $49.00 in a report released on Monday, Benzinga reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 5.79% from the company’s previous close.

MNST has been the topic of a number of other reports. The Goldman Sachs Group upped their target price on shares of Monster Beverage from $106.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. Stifel Nicolaus set a $52.00 target price on shares of Monster Beverage in a research report on Thursday. Evercore decreased their price objective on Monster Beverage from $95.00 to $52.00 in a research report on Thursday, October 8th. TD Cowen increased their price target on shares of Monster Beverage from $45.00 to $47.50 and gave the stock a “hold” rating in a report on Wednesday, July 8th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $100.00 price target (up from $98.00) on shares of Monster Beverage in a research note on Monday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $71.86.

Monster Beverage Trading Up 0.3%

MNST stock traded up $0.13 during midday trading on Monday, reaching $46.32. The stock had a trading volume of 1,410,958 shares, compared to its average volume of 11,092,617. The company has a market cap of $90.74 billion, a price-to-earnings ratio of 42.88, a price-to-earnings-growth ratio of 2.91 and a beta of 0.49. Monster Beverage has a 52-week low of $32.94 and a 52-week high of $50.17. The company’s fifty day simple moving average is $44.77 and its 200 day simple moving average is $44.52.

Monster Beverage (NASDAQ:MNST) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. The firm had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.43 billion. Monster Beverage had a net margin of 23.08% and a return on equity of 26.02%. Monster Beverage’s quarterly revenue was up 20.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.26 earnings per share. Sell-side analysts predict that Monster Beverage will post 1.16 EPS for the current year.

Institutional Investors Weigh In On Monster Beverage

A number of hedge funds have recently bought and sold shares of MNST. Johnson Financial Group Inc. bought a new position in shares of Monster Beverage during the second quarter worth about $27,000. Jones Financial Companies Lllp acquired a new stake in shares of Monster Beverage in the second quarter valued at approximately $28,000. Trust Co. of Vermont acquired a new position in Monster Beverage during the 2nd quarter worth $30,000. NBH Bank bought a new position in Monster Beverage in the 2nd quarter valued at about $32,000. Finally, Clearstead Trust LLC bought a new position in shares of Monster Beverage in the second quarter valued at approximately $32,000. Institutional investors and hedge funds own 72.36% of the company’s stock.

About Monster Beverage

Monster Beverage Corporation is a global beverage company focused primarily on the development, marketing, sale and distribution of energy drinks. Its portfolio includes the flagship Monster Energy brand, along with products marketed under brands such as NOS, Full Throttle, Reign, Burn and Mother. The company offers a range of energy drinks in different flavors and formulations, including products positioned for performance, fitness and everyday consumption.

The company traces its origins to Hansen Natural Corporation, which was founded in 1935 and changed its name to Monster Beverage Corporation in 2012 as the Monster Energy brand became increasingly central to its business.